Sofema Online(SOL) www.sofemaonline.com offers survival guidance for your business.

 

Share Status with Financial Providers – No surprises

Banks very quickly become nervous, so ensure regular dialogue with your lender always provides the earliest possible warning so that the best outcomes can be achieved.

Always preserve cash, and to reduce pressure on cash funds, consider delaying capital investment where possible to obtain long-term finance, also to consider asset sales and leasebacks.

If your business is struggling financially, then do take advice at the earliest possible time in order to avoid unnecessary risks related to insolvency. Also consider that there is the potential for charges of wrongful or even fraudulent trading.

Tax & Liabilities

Ensure that you take advantage of all available reliefs in addition to trying to minimise or delay your tax expense wherever possible; however, note that if you are likely to not be able to meet all tax obligations to discuss at the earliest possible, it may be possible to agree on extended payment terms.

Deferring payments to suppliers may not be welcome by the supplier and may incur late payment penalties; however, if it generates essential cash to maintain the business, it is worth considering.

Considering Business Overheads

Methodically review all overheads to ensure that each expense is necessary and that you are achieving optimum value (not the same as cheapest), but if possible, avoid cutting any marketing expenditure.

If it is possible to outsource your HR function, ensuring that you have access to good advice as well as support for redundancy tribunals

Aviation Leadership & Management Skills Development Diploma

Are Leaders Born or Made?

Behavioral theorists believe that people can become leaders through the process of teaching, learning, and observation. Leadership is a set of skills that can be learned by training, perception, practice, and experience over time. Leadership learning is a lifetime activity.

 

Sofema Aviation Services and Sofema Online - provide Classroom, Webinar, & Self-paced Regulatory & Vocational Training. Have questions about our programs, need more information, or want to learn about our exclusive special offers? We’re here to help! Reach out to us at team@sassofia.com, and one of our friendly experts will get back to you promptly. Let us guide you in finding the perfect training solution tailored to your needs!