The full economic impact of the coronavirus crisis and how quickly we return to pre-covid levels of economic activity is difficult to predict. The Government seems keen to learn from the lessons of the 2008 financial crisis when measures to protect banks’ deposit holders led to a lack of vital liquidity for businesses.
We have been approved by the British Business Bank as a new accredited lender to provide loans through the Coronavirus Business Interruption Loan Scheme (CBILS). We are currently accepting applications from existing borrowers only.
Minimising and/or deferring business costs is critical during periods of reduced business activity. In this short blog we take a look at 8 tips that might help a business mitigate costs and improve cash flow.