The chancellor, Rishi Sunak, has announced that there will be no new support schemes to support people through the coronavirus pandemic and that it is now time for the government to ‘look forward’.

This news is a blow to the approximately 3 million people who have missed out on any support such as company directors, freelancers and the recently self-employed. Mr Sunak told the House of Commons Treasury Committee:” Now we have to look forward. There wouldn’t now be the opportunity to have new schemes.” In the same statement Mr Sunak also defended his plans to pay a £1,000 bonus to employers who keep staff on, despite admitting that much of the money would be wasted on jobs that would have been kept in any case.

The 3 million who fall into this group are unhappy that, as taxpayers, they have been excluded from accessing income support during the crisis. Mr Sunak has pointed out that there have been schemes such as the bounce back loans made available and that a line had to be drawn somewhere.

The economic outlook in this country and globally looks challenging, even with news that the Chinese economy has bounced back to show 3.2% growth in the second quarter. There are difficult times ahead with businesses having to restructure and there are likely to be significant job losses across all sectors.

Now, more than ever, businesses should be looking at where they can be more efficient. Where can time and effort be saved, and productivity increased? It is crucial that businesses build up their cash flow to ensure stability in the coming months.

One area that many businesses struggle with is ensuring they are paid on time for their work or goods provided. This can have a detrimental effect on the business and leave it unable to accurately forecast cash flow, plan for the future, explore new markets or invest to scale up their current offer.

A huge amount of time can be wasted by staff and business owners chasing unpaid invoices when their time and talents should be employed in the operational side of the business. Staff are often not skilled in this area and many business owners are reluctant to chase money for fear of alienating clients or putting the opportunity of future work at risk.

This is where it makes sense to partner with an experienced agency who can work alongside your business and offer a white label solution to this problem. Daniels Silverman have been offering credit management and control to companies from blue chip to SME for 25 years. We work alongside your business and act as part of it, contacting your clients with friendly reminders when invoices are due. We put your reputation at the heart of everything we do and understand that your client relationship are important. The cost of being paid should never be the loss of a good client.

We are experienced, friendly and ethical and our team of staff are all highly trained and proactive, leaving you and your staff to do what you do best, focus on your business.

If you would like to free up your time, be able to confidently forecast your cash flow and focus on guiding your business through the challenging times ahead, why not contact us to see how our white label solution could support you to do so?

We have agents standing by to speak to you via the website https://www.danielssilverman.co.uk/ or you can call us on 0800 953 3631 We look forward to hearing from you and seeing how we can help.