Where Will You Get More Cash, If You Need It?

As 31 October approaches, there is a strong possibility that the UK is heading towards a No-Deal Brexit and all that this might entail.

While there is still no certainty around what Brexit will mean, businesses that sell to and buy from the EU need to have contingency plans in place that are sufficiently flexible to cope with a variety of possible outcomes.

We have collated a series of 5 short articles which cover the areas that should be considered and provided useful links for further reading.

In this first article we ask:

Where will you get more cash, if you need it?

Assess how much working capital you need.

Consider how you would access additional funds, if needed.

The consequences of a no deal Brexit are unclear. Nevertheless, it is always prudent for businesses to plan ahead and think about how they would deal with economic uncertainty, which inevitably occurs from time to time. Economic uncertainty might affect sales, the collection of debtors or inventory levels. Businesses may need more cash at hand so they can make sure they continue to make payments on time.

More complex port procedures could mean businesses need to be prepared to carry more inventory, tying up additional working capital.

Useful links:

Find potential sources of finance in the Business finance guide.

Contact Mitchells regarding our complete Funding Advisory service.