Will your business survive the Coronavirus?
The Coronavirus is causing great concern globally. But, like SARS and the Bird Flu, I am confident our health organisations will come up with a cure to this highly infectious virus.
From an economic perspective however the cause for concern is also a global scale. Many big and small businesses are quickly running out of stock and supplies due to the closures of manufacturing plants and delays to shipments from China and throughout Asia.
The economic ramifications from Coronavirus will no doubt be around for many months even years after the virus is cured.
Have you got enough cash to survive the next 90 days?
What are the problems?
Many businesses are and will be feeling the pain of Coronavirus for months if not years to come.
It’s all about supply of product for many industries. The problems are far reaching and will have massive ramifications for the Australian economy.
Problems include:
Delays in shipments of finished goods
Shipments held up in quarantine
Manufacturers closed
Manufacturing & delivery wait times extended
Uncertainty of when supply can be made
Increase cost for goods
Consumer sentiment and fear
Increase unemployment locally
Delays in major projects being started
Loyal clients now doing business with competitors
Loss or delays in sales which impact Cash Flow
Finance commitments not being met
Late payments to suppliers caused by late customer payments
Statutory obligations not being met
Who’s at Risk?
Given product and material supplies are key for many sectors the impacts are far reaching.
Product and Material supplies issues will effect:
Construction and Maintenance
Medical and Allied Health
Retail Trade
Wholesale Trade incl. Import and Export
Online retail
Government services
Major Projects
Printing Industry
Residential & Commercial Property development
Mining
Consumer & Business sentiment and fear will impact:
Tourism
Hospitality & Food Services
Commercial Property leasing
Retail trade
Cash is King!
How to survive Coronavirus.
The problem for our economy and business is the delayed impacts the coronavirus has. Now supplies and stock are running out, sales are in decline and for some have stopped completely.
Business cash flow is being tested and stretched!
There is great uncertainty for the global economy as well Australian local economy and what happens if this virus isn’t stopped in the next 90 days.
I know getting into debt can be scary for a lot of businesses BUT if it’s done correctly you can build your cash reserves whilst leveraging the use of someone else’s (banks) money,
As a business you must focus on preserving as much of your cash as you can, which can help buy you time.
This is a frequently asked question?
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
Review expenses
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This is a frequently asked question?
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
This is a frequently asked question?
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
How to survive Coronavirus.
Cash Flow Forecast the next 90 days in your business.
The next 90 days is critical for all businesses impacted by Coronavirus. You need to understand what cash resources you have now and what they look like in the next 90 days if you are to survive.
A cash flow forecast will enable you to understand the financial implications of the business decisions you make, before you make them.
2.This is a frequently asked question?
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
This is a frequently asked question?
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
This is a frequently asked question?
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
6 Common business problems I help solve
There are many reasons why business owners need finance. Here are the most common reasons people engage my services for.
1. Managing Cash Flow problems
It can be a vicious cycle and one that is the major problem for all businesses, both big and small. It’s why you are awake at 2 am worried about what your’re going to do. I help business owners understand what caused the issue, stop it from happening again and finding the cash flow solutions to help you get a good nights sleep.
2. Growing business that needs cash
It all begins with an idea. The more you explore that its a good thing the more you realise that idea needs money to get started. Something that you don’t have. What I can do is help you find the money to fund growth externally to your business or with a Cash Flow forecast see how you can fund growth internally or in concurrently with external finance.
3. Change is being forced on you
It’s inevitable that at some point in your businesses external forces, that you can’t control, will create a change event. For example Corona-virus and the impact this has on importers, exporters and retail + wholesale sectors. I can help you understand the financial impacts before they happen or solutions to problems if they are already on your door step.
4. Problems with existing bank
Sometimes banks do funny things; like wanting to give you money when you don’t need it, but nowhere to be seen when you do. Like a relationship sometimes they run their course. I help businesses improve their bank relationship to ensure they when you need help they are there. If not I find you the right bank that will be there when you need them.
5. Cash Flow forecasting
Understanding where your cash flow for the next 90 days is critical. It allows you to know exactly where you need to focus and spend your time. Cash Flow forecasts help you make better business decisions by understanding the financial impact of these before they happen. Every business should have a cash flow forecast for the next 90 days.
6. Stressed and just need help
Dealing with lenders is time consuming, daunting, frustrating and simply stressful. I know how the finance ‘game’ is played. I’ve spent 20 years playing it for SMEs. Why? Because I am good at it and everyone needs someone fighting in their corner. Let me take the stress of finance off your hands, I get the results and you concentrate on running your business.
I specialise in these solutions:
Equipment Finance
Upgrade broken equipment
Buy new or used equipment for business growth
Replace old technology with new for better efficiency and productivity
Commercial Property Loans for:
SMSF (Self- Managed Superfund)
Owner Occupiers and Investors
Refinances and purchases
Trade Finance
Working capital for Wholesale trade
Domestic distributors and re-sellers
Retail Trade
Pay suppliers on their terms, manage import risks and
up to 6 months to pay back
Debtor (Invoice) Finance
Access cash from your unpaid invoices
Grow your business confidently knowing you have access to working capital
Unsecured Small Business Loans
Suitable for small businesses who have good, steady cash flow but don’t have property security
Pay ATO debts
Business Term Loans and Business Overdrafts
Working capital facilities
Invest in growing your business but taking time to payback
Purchase property, plant and equipment using property as security
