Ted Tzafaroglou | April 2020
As businesses begin to re-open after the Covid19 epidemic, management will encounter several challenges. Employee retention, equipment start up, marketing, and restructuring physical location to continue Covid19 mitigation practices are amongst the operational challenges. Key to addressing all of these and more is having access to working capital. Lenders are going to require a business to demonstrate the need for working capital, the amount of working capital required, and how the working capital can be repaid and/or collateralized. Please consider the following to hit the ground running.
Gather and organize historical financial information.
Be up to date with current financial information.
Develop a written plan to re-open.
Prepare cash flow and other financial forecasts to support the plan to re-open.
NECP is ready to assist Companies manage through the Covid19 crisis AND to develop a path forward as the crisis conditions ease. Let’s make sure that your to do list is complete. Please reach out to NECP for a discussion today. Tom Desmond is available at 617-480-8146 tdesmond@neconsultingpartners.com Ted Tzafaroglou is available at 734-377-1053 ttzafa@neconsultingpartners.com