Preparing for Brexit: where will you get cash if you need it?

With both Brexit and Covid, cashflow for most businesses has been stretched - and may continue to be for some time to come.

At some point the government's coronavirus support measures - including furlough and tax deferrals - will end. Businesses will need to fund the full cost of employees, pay taxes due, and start making repayments for any loans they have availed themselves of.

The economic consequences of Brexit are unclear and will depend on the free trade agreements that the UK can negotiate with the EU and other key trading partners. These may not be fully in place when the transition period ends on 31 December 2020. Businesses therefore need to plan ahead and think about how they could deal with further economic uncertainty which might affect sales, the collection of debtors or inventory levels. You may need more cash to hand to ensure you can continue to make payments on time and meet your contractual obligations.

Key considerations

• What money do you need?
• Why is it needed?
• When do you need it?
• Where will you get in from?

Complete a cashflow forecast

To help SMEs, there is a free template on our Preparing for Brexit website page here. If you would like some assistance in preparing a full cashflow forecast or need any other help or advice, please do get in touch.