SmartCompany

Develop a cashflow plan

Financial coach, accountant and Healthy Business Finance owner Stacey Price says businesses losing access to JobKeeper should try to stay positive about losing access to the wage subsidies because, after all, it means business is picking up again.

“Speak to your accountant and work out a cashflow plan together,” Price tells SmartCompany.

“What does the next three-to-six months look like? What income do you know will come in the door, and how can you make that work for you?

“Yes, some hard business decisions will likely need to be made, but make them business decisions and not emotional decisions.”

Don’t forget to be upfront with staff either, particularly if losing access to JobKeeper is going to have ramifications for their employment.