Most businesses are facing a tricky path navigating the unique current economic circumstances and are trying to find the best solutions to make sound investment decisions, to grow, to raise money, or find a safe pathway through a change period.
For many, one of the most pressing business concerns is cash management. With usual payment sources facing unprecedented pressures themselves, money coming into a business can be reduced or delayed, resulting in tough decisions needing to be made about costs and expenses.
This is the time to approach the situation calmly, and to concentrate on what is truly within your control. In fact, it is always the time to approach cash management in this way. Should be business as usual as they say. While payments from clients may be outside your control, you can certainly focus on your day to day running of your business and what can be made to work for the immediate future.
But which path do you take? The myriad of options can be confusing, ranging from potential VAT and rent referrals to business interruption loans – not to mention various approaches to wages and employee support. How do you prioritise actions in today’s shifting landscape?
It vital that the Finance function takes an active role in ensuring current cash strategies meet immediate business goals – especially regarding revised forecasting, debt management, regular monitoring of the business’s cash position and clear communication with clients and suppliers.
At Fusion Recruitment we have the resources to supply the right – experienced – people in this situation, who can advise you in your unique circumstances and create models to help your current cash management. For either a growth or turnaround situation, it is so important to make the right financial decisions at the right time.
If you would like to discuss cash management strategies and how we can supply resource to help on a project or ongoing basis, please email Adam, Head of Fusion Recruitment at adamb@fusionrec.co.uk for advice.
