In addition to keeping tabs on the Government interventions discussed above, ASATA members are encouraged to take the following actions to preserve their cash flow in the short term:
- Consider our employment FAQ for options such as short time and temporary lay-offs. This is the single biggest cost saving measure you can employ now.
- In extreme cases, consider whether you shouldn’t close your business temporarily.
- Apply for the Temporary Employer Relief Scheme. In order to do this, you will have to create a turnaround strategy and implementation plan. You should start that immediately.
- Speak to your banks regarding debt relief measures and short-term financing options.
- Speak to your landlords regarding deferred payment of leases.