There are plenty of things to take into consideration in times of crisis and cash is certainly one of the first things that come to mind.
We understand how overwhelming this is, but rest assure it will bring a lot of visibility to your current situation and help you make informed decisions. That itself will make you feel better.
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These 5 points are just a start to get you going.
Prepare cash flow projections for 12 months.
Identify date when you can run out of cash and understand your what if scenarios.
Evaluate possible inflows from open invoices, SBA Loans, Employee Tax Credit, etc.
Evaluate your profit and loss expenses line by line and remove/modify unnecessary expenses like unused subscriptions, rent, insurance, mobile phone plans, etc.
Talk to your banker or lending institution for loan payment deferment options.
Contact us for a free no commitment 30 min. consultation. Click the following link to schedule yours today!