How a cashflow forecast can save your business from going into administration

In today’s demonstration of why a cashflow forecast can change your business or your life, I want about talk about real life examples of how a cashflow forecast can save your business from going into administration.

Transcript

In today’s demonstration of why a cashflow forecast can change your business or your life, I want about talk about real life examples of how a cashflow forecast can help your business avoid going into administration.

Now under the insolvency laws in, businesses can access what is called the “Safe Harbour” provisions to buy themselves some time to fix the financial problems of the business without putting their personal assets such as their house at risk.

Now in order to access these Safe Harbour provisions, you must be implementing or developing one or more courses of action that are reasonably likely to produce a better outcome for the company and creditors in a reasonable time frame.

And a cashflow forecast is a key part of this.

If you are suffering financial difficulties, and you don’t have a cashflow forecast, and you continue to trade, you may be putting your personal assets such as your house at risk.

And I have personally seen these safe harbour business laws work. I’ve seen businesses use the provisions of the safe harbour laws, put their forecasts and projections in place, work through their financial difficulties and come out the other side. Giving a better outcome for the company and the creditors. A win-win for everyone.

And that is just another example of how a cashflow forecast can change your business or your life.

Now if you want some implement a cashflow forecast that may potentially change your business or your life, contact me below.

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Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

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