Have you Assessed the Financial Viability of your Business Post Jobkeeper?
On 28th March 2021 Job Keeper supplements will come to an end but the repercussions from the pandemic are still very relevant.
We advise all businesses review their balance sheets to ensure they can sustain a future potential lockdown or any downturn in the economy that may put their business into an unplanned decline.
Some questions you should be asking yourself include:
- Does the business need to retain greater cash reserves for the unexpected? And if so, does it have this readily available?
- Are the Debtors genuinely recoverable?
- Are any expenses able to be reduced or eliminated?
- Is there a plan in place to deal with any deferred debts?
- Have you signed any personal guarantees and if so, do you hold a register of those guarantees?
- Have you done a medical health check on your business structure and assets?