The leisure and tourism industry takes another knock!
So, you’ve made it through the summer, kids are going back to school, the governments eat out scheme has ended and everything will start to go back to the new normal, but is there enough money in the bank to last till next summer, now we won’t be getting the Christmas Parties and the crazy New Year’s celebrations?
With the introduction of COVID-19 safe practises bars and restaurants are unable to take bookings for Christmas parties. No more than 6 people at a table from a maximum of 2 households is the current code of practice. This may change in the coming months but surely not to the extent of an office party.
Food for thought… How many companies can afford to pay for a Christmas party?
Considering lockdown being relaxed slightly, you need to be looking at your bank balances as they should be looking better than they have for a while. Let’s not forget all those suppliers who are on accounts and are going to be billing you at the end of September.
With everything returning to the ‘new normal’ comes outstanding bills and the likes of the VAT returns becoming payable again, we need to take stock of our sustainability.
As the holidays approach and everything goes on the ‘go slow’ again, we would urge you to speak to one of our associates to complete a ‘business budgeting assessment’.
By completing a ‘business budgeting assessment’, together we can assess the viability and sustainability of your business. It is essential that you understand the financials of your business, with a view of assessing if your business is in a solvent position.
If you and we believe that your business can be made sustainable, we will do all we can to help, guide and support you with money management and budgeting; our common goal, the successful future of your business.
If, together we believe your business to be in an insolvent state, a voluntary liquidation maybe recommended; essential pressing the reset button and writing off your business debt. Achieving a voluntary liquidation will be easier for you to accomplish if you have some money in the business bank account to start with.
Either way, company money worries, then contact us now for a journey of free advice, support, and guidance.
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