The value of cash flow forecasting, management accounts and revised business plans is set to come into stark relief as businesses look to rebuild and recover following the easing of lockdown.
In recognition of the importance of these and other accountancy services to the recovery and a swift return to prosperity, the Government has announced funding of £1,000 to £5,000 to assist SMEs in England with the cost of professional advice relating to the recovery.
This could include:
- Management accounting
- Cash flow forecasts
- Creation of a new business plan
- Advice on credit control.
Applications for the funding are set to be administered by the 38 Local Enterprise Partnerships (LEPs) across England. The full list of LEPs can be found by clicking here.
If you are based in England, please contact your local LEP for details of how to apply for the funding, which is set to be available in the coming months.
Businesses based in Wales can find more information about the funding available here.