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IATP Covid-19 Various Tips
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3/24/2020 at 3:38:04 PM GMT
Posts: 9
IATP Covid-19 Various Tips

 

 

CASH FLOW

 

Review your forecasting and models according to different scenarios,

 

Do you have any loans you can pause easily,

 

Speak to all your lenders to establish how you can pause other loans or finance,

 

Review all spending and cease anything other than essential immediately,

 

Contact your landlord to negotiate a short term reduction or holiday in the rent,

 

Review any support being offered by your local administration or government,


STAFF

 

Consider staff cost reduction whilst remaining compliant,

 

Review staff options if you must close down and what contracts require. A good consultant or lawyer will be able to explore options with  you,

 

Can/should you ask staff to take holiday or unpaid leave (Monitor local information on this issue).


INSURANCE

 

Understand how your business insurance will work if your business is closed.

 

Check your policy or speak with your broker to see if you have Business Interruption coverage in you policy.


CUSTOMERS

 

 

Look at measures to protect your customers. Look to the CDC and WHO as good guides.

 

Review your Terms and Conditions, including cancellation and refund policies to ensure they are up to date.

 

If you have memberships, review the conditions of membership and how you will put them on hold.

 

Consider if you need to change how to treat school or group bookings.

 

Consider social media messaging to your clients.

 

 



Donna Morgan
IATP Administrative Assistant


Last edited Tuesday, March 24, 2020
3/25/2020 at 5:10:42 PM GMT
Posts: 1
This is great! Thank you for the information. We look forward to posting more information for our members soon.


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