With the lockdown restrictions now easing and Government support
reducing, consider taking action now to improve your cash flow
which could be essential to your business.
The Corporate Insolvency and Governance Act 2020 (CIGA) which
came into force on 26 June 2020 assisted struggling businesses
through the downturn from Covid-19. This allowed some temporary
measures to be in place such as extensions to the time periods for
the filing of the various documents at Companies House, including
company accounts. CIGA is part of the Government's
unprecedented action to support businesses through this global
crisis.
- Review your cash flow
Extensions of time and periods of grace have been granted to
customers by suppliers during Covid. However as the position is
changing, consider whether your business can continue to support
your customers to the detriment of its own cash flow.
