Business uncertainty - time to secure a cash buffer?

8 July 2020 Andy Ryder View all News

When speaking to clients over recent weeks, ‘uncertainty’ is the one word that has summed up the difficulties they have all been facing more than any other.  And for many, accessing a government supported CBILS loan is providing a much needed cash buffer.

It has been an unprecedented time for all of us, with the situation fluid and the environment for doing business changing day by day. Trying to look forward and assess what the future landscape will be has been almost impossible for business owners; when will travel restrictions end?, what is the safe distance in workplaces?, when will schools return? , what will government support look like in 3 months?, will there be a second wave?.....

To respond to this constantly evolving situation, flexibility is required. Having the resources to adapt and meet the current circumstances, and your best predictions of the most likely future scenarios, is more important than ever.

Of course, one of the most important resources to support this flexibility is cash. A well-funded business has the ability to ride short term blips, reshape their business model or to meet increased working capital requirements. The availability of this cash headroom can mean businesses not only surviving but thriving against their competition. With change comes threat but also opportunity.

Coronavirus Business Interruption Loan Scheme

We are advising many of our clients to consider obtaining that all important cash buffer through accessing a government supported CBILS loan. These are on very attractive terms (no arrangement fees, no early repayment penalties and the government paying the interest for the first 12 months).

They therefore represent an opportunity to put your business in a great position to emerge strongly from the current uncertainties.

With the loans only currently expected to be available until the end of September, why not talk to us today as to whether a CBILS loan could help your business?


Please do get in touch with your normal Shorts contact to talk things through

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