Available funding and its effects

The crisis we are currently experiencing and all of the challenges we will have to overcome together are exceptional and affect all of our society. We all have to show flexibility to adapt to this economic situation and come up with the best solutions so that our companies can continue operating. That is the new reality confronting them.

However, we are beginning to see light at the end of the tunnel, and governments are gradually beginning to plan for the reopening of businesses. This comes as good news!!

The time has now come for companies to think about restarting their operations. For the start-up, all companies must bring together the resources they need to begin production, provide products and services their customers need and plan for the implementation of health measures. So be ready and begin your planning. Which employees will be called back to work? What communication strategy will you use to reach your clients, etc?

But the major question you should ask yourselves is what financial resources will the company need to operate in the short and medium term and when will they be available and accessible?

It is essential that you plan a cash flow strategy, which includes an assessment of your cash position, planning of working capital requirements, an update of your sales forecasts, and an update of your supply and expenditure forecasts.

Several developments have taken place during this slowdown such as moratoria on loans, new debt, employee layoffs and cuts to inventory. To be ready for the resumption, you will have to address these factors.

To help you gain a picture of your cash position, SADC sent you a cashflow movement table a few days ago, which will help you see more clearly what situation your company will actually be in when you begin operation. Take advantage of this downtime to immediately plan for the resumption of operations and use this tool. It will give you a better perspective of your various needs and, of course, your cash position.

The Gatineau Valley SADC is there to help you and lend you a hand with this exercise. Please feel free to contact one of our two advisers, Julie Bénard at (819) 449-1551 This email address is being protected from spambots. You need JavaScript enabled to view it. or Nathalie Patry at (819) 449-1551 This email address is being protected from spambots. You need JavaScript enabled to view it.. They will be pleased to advise you and help you through the process.

Looking forward to hearing from you!!!

The situation is changing from day to day. Watch for regular information from the Gatineau Valley SADC!!!