Tracy Ewen, managing director of IGF Invoice Finance, warns SMEs of the risks to their cashflow as a result of the snow that has today blanketed the UK.
How will the cold snap affect your sales this week?
“As the UK today receives is first nationwide covering of snow, and with sub-zero temperatures set to persist throughout the week, firms that rely on the transportation networks to move their goods, staff and invoices around may well find that their cashflow drops into the red. During the adverse weather, many company signatories will choose to work from home rather than braving the ice and cold. This may mean that office processes, such as payments, will encounter delays.
The biggest danger is that companies won’t be prepared for this shortage. Unlike over Christmas and the school holidays, cashflow shortages in February will come as a bolt from the blue, giving small businesses an unexpected headache if they haven’t taken action to cover any shortfall.”