It is not unusual for businesses to have a quiet period at some stage in a year. This can cause concern and cash flow difficulties. You may have a seasonal business, or you may have chosen to have a shutdown period. You may be in an industry that is affected by other businesses shut downs. Whatever the reason, the bills keep coming in and staff still need to be paid.
It is important that you understand the reason behind these times and plan ahead to mitigate cashflow problems. If you can plan for this, it will reduce the stress that it puts on you and your business.
A good cash flow forecast, and historic data will help you plan ahead. Historic data should show the peaks and troughs in your cashflow and help you make informed decisions.
Budgeting for these times will allow you to take time to either work on the business, tidy, plan or spend time doing something for yourself. It may just be a time to stop and breathe. Put the time to good use, put systems in place to make the busy times more efficient or upskill and do some training with your team.
If you want to ensure that you have up to date and accurate information to enable you to make informed business decisions and have peace of mind to take time off to do the things you love, contact us.