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Managing cashflow during COVID-19

 

How startups and SMEs can streamline Coronavirus Business Interruption Loan Scheme applications

The coronavirus is providing a challenging environment for many small businesses. Now more than ever, it’s important to be on top of your cash flow.   Launched by the Government in response to the COVID-19 pandemic, the Coronavirus Business Interruption Loan Scheme allows companies with a turnover up to £45m to borrow up to £5m with the first 12 months interest free, with repayment terms up to 6 years.

There's likely to be overwhelming response of businesses applying, so it's best to prepare in advance all the documentation needed to apply.  Here's a handy-to-do list to streamline the process!
 

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R&D tax credits as an alternative form of short term cashflow, and how we can speed up this process. 

Many businesses are facing a cashflow crunch. Thrust into the spotlight with a disease pandemic on the loose, is one scheme that set up before the virus outbreak that could be considered by the tech community one of the most valuable schemes around, the R&D Tax Credits Scheme.

R&D Tax Credits could be the "unsung hero" for many eligible tech startups and innovative businesses that invest in Research and Development and who may not be able to gain access to loans via the Coronavirus Business Interruption Loan Scheme. We navigate you through the scheme and take you through the steps needed to make your claim quickly, and get much needed cash. 
 

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A handy to-do list of things they would need to pull together including the reports such as the Income Statement and Balance Sheet, naturally bookkeeping needs to be up-to-date.  

With the passage of the Coronavirus Business Interruption Loan Scheme (CBILS), the small business world has been buzzing with news of money set aside for CBILS loans. If your business is in need of help to get through the coronavirus crisis, these loans may be a great option for you. But before you head to the British Business Bank website and start filling out forms, know that there are a number of to-do's you will need to pull together. We've compiled the essential list, just for you. 
 

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