During these unprecedented times cash flow is more important than ever for small businesses. Whilst there are reliefs available for businesses do you know if you will need to borrow cash in the immediate future? Could you provide evidence to HMRC to support your need for a time to pay arrangement? Is there technology that could support your business through this time?
Many business owners have sleepless nights worrying about cash- this couldn’t be more relevant in the current climate. Fluidly combines artificial intelligence with financial modelling to produce a forecast that’s always up to date.
Linking Fluidly to your cloud based accounting product produce cashflow forecasts in minutes, not hours and understand if you are going to require additional cash within the next 90 days. These cashflows could also prove invaluable when applying for the Coronavirus Business Interruption Loan Scheme or liaising with HMRC over time to pay arrangements.
Fluidly are currently offering a free access to their Lite version- this could prove an invaluable tool for small business owners over the coming weeks.
If you are worried about your businesses cash flow and require further advice please do not hesitate to contact your usual UHY representative.