This is what your promoted consultancy could look like
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This is what your promoted consultancy could look like

You already know the good news. If your company is affected by the Corona crisis, the Federal Office of Economics and Export Control (BAFA) will subsidize your business management consulting services with up to 4,000 euros under the program „Promotion of entrepreneurial know-how“.

As an external consultant, we can provide you with a wide range of assistance during the corona crisis.

  • Identification of new business areas,
  • Conversion and digitalisation of your business or
  • Support in securing your liquidity status.

Of the numerous questions that reach us every day, the most urgent problem is the issue of generating and securing liquidity. We help you with the factual analysis of your business management data and provide you with tips and assistance in dealing with the crisis.

This is what our liquidity consulting services could look like for you

Analysis of the current business situation

We review existing planning and controlling tools and evaluate existing reports based on the 2018-2020 data, which gives us an understanding of the seasonality and specifics of your business model.

However, we also go for the sore spot if, for example, a sound liquidity plan or accounting system is missing.

We check business management data such as open items, incoming and outgoing payments, the current account balances and current account lines.

These are exemplary guiding questions:

  1. When do you expect which payment from which customer?
  2. What are your fixed costs and when are they due?
  3. What is your current liquidity situation?
  4. Have you used all available credit lines?

Your liquidity tool

We develop a liquidity tool with you and for you. The recorded data will be incorporated and tested there. Data from financial accounting and payroll accounting are taken into account. This allows you to gain a clear overview of your situation, anomalies, potentials and perspectives.

This planning draft is discussed with you, checked for plausibility and, if necessary, readjusted.

Workshop for your new liquidity tool

In the course of a telephone or video conference (after the crisis, we would also be happy to meet with you in person at your premises again), we can discuss and test the future usage of the liquidity tool together afterwards.

The advantage is that you will have a reliable tool at your disposal in the future to maintain an overview of your liquidity situation with the greatest possible planning security. Planning difficulties can be identified at an earlier stage and suitable measures can be initiated.

Taking short-term measures

Together we discuss and develop measures to defuse current liquidity gaps. In the current corona crisis, these include, for example, emergency aid from the federal states, the introduction of short-time work compensation, potentially an expansion of existing credit lines and possible applications for deferral and reduction.

Deferrals of fixed costs such as value-added tax, wage tax, and social security contributions can help on a short-term basis by postponing payment deadlines.

Prepare long-term measures

You receive a liquidity strategy with a wide planning horizon. This enables you to define your liquidity needs and, after careful discussion, submit any credit applications.

Further measures

Certainly, crisis management also includes the analysis of your business processes. Possible increases in efficiency could be shown, the process framework could be documented or we could consider measures to be well prepared in a future crisis (keyword: digitalization).

 

Please contact us if you need help

No costs will be charged for consulting under this program up to a consulting value of 4,000 euros.

Please contact us at BAFA-kso@ecovis.com or on 02173-399 47 289.

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Lars Rinkewitz
Lars Rinkewitz
Tel.: +49 211-90 86 70
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