COVID-19 – Leveraging Government Support to weather the storm

As a self-employed business operator, any type of disruption to your service offering not only impacts your business, but your livelihood.

Over the past week, there has been an abundance of posts and blogs outlining the initiatives being offered by the Canadian Federal Government to support Canadian workers and businesses during the COVID-19 crisis. The initiatives will help absorb part of the economic hardships, but to ensure you have a clear picture of your business’ working capital, we recommend projecting your short-term cash flow using a cash flow forecast.

A 13 week rolling cash flow forecast can help companies with limited financial resources by providing a snapshot of your upcoming cash flow needs so you can build a plan:

  • When do you think funding from the Canadian Government will be processed?
  • What impact will the tax payment deferral programs have?
  • What cash flow needs will your business have in the meantime?

Building a 13 week cash flow forecast will be the financial foundation of your business. To help, 20/20 Analytics Service has attached a link to a template for your use.

Download Template

If you’re looking for guidance on how to take advantage of the cash flow forecast, please contact us, we’re here to help!

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