Keeping Your Business in Good Health During COVID-19: Part 4


With COVID regulations changing every day, you never know when you’ll be under another lockdown, when the cost of your inventory will rise, or when there will be an emergency that will require cash ASAP. To ensure your business can run with the least amount of interruption, you need to build a safety net into your business plan that allows you to put some money away every month.

Parts One, Two and Three of our “Keeping Your Business in Good Health During COVID 19” discuss how you can avoid penalties, save your business money, and get a business loan fast. In Part Four, we share our top tips for prepare your business for whatever comes next!

Prepare your business cash flow forecast for the year

What is a business cash flow forecast? 
  • Your business cash flows take into consideration all the money that went in and out of your business over the last year.
  • Based on your past performance, a cash flow forecast projects how much income you will make and what your expenses will look like in the coming year.
Why should you prepare a cash flow forecast?
  • Your business cash flow forecast helps you assess whether you will have enough cash to cover your business expenses this year.
  • It will also help you identify opportunities to reduce unnecessary costs and put some money aside for an emergency fund.
  • Finally, your cash flow forecast will help you plan for the future. Based on that, you can decide how much additional financing you need. Once you’ve done your forecast, we can help you find the right business loan and navigate the process of getting your loan. Just click here to apply.

Don’t know how to prepare a cash flow forecast for your business? We’ve put together some simple tips to help guide you on how to build one.

Plan for your taxes in advance

Why is this important?
  • Just like how your cash flow forecast projects your financial health in the coming year, being aware of your tax dues in advance based on what they were in the previous year helps you plan better.
  • Projecting your earnings for this year based on past earnings will also help you calculate how much tax you will owe to the tax authorities this year.
Why is planning your taxes beneficial? 
  • Once you know how much you may earn and how much you may owe, you can start saving up or even pay your dues in advance.
  • This ensures you pay your dues on time, avoiding any penalties associated with late tax payments, and continue to be in good credit standing with the lenders.
  • Lenders will require your tax documents to ensure you run your business responsibly and that you will be able to repay the loan.


Preparing your business cash flow forecast and anticipating your loan dues may sound like simple things to do. It is small practices like these that help you avoid penalties and identify red flags in your finances before they become big problems. They also help you grow the savings that you may use in an emergency.

Having such preparedness also conveys to lenders that you are a creditworthy business, and you base your decisions on facts rather than whim. If you’re getting your finances in order for post-lockdown, consider applying for a loan with CreditEnable. Our process is 100% digital, and we match you with a specialised SME loan product within minutes based on the information you provide us.


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