Unforeseen challenges are part and parcel of entrepreneurship – whether they be economic changes, energy crises or natural disasters: the important thing is to stay calm and take the right steps.
As the business development agency for the Steinfurt district, we’re here to support you with our experience, expertise and a strong network.
On this page, you’ll find quick help, clear points of contact and practical support services to help you emerge stronger from any situation.
Ensure liquidity – before the situation becomes critical
Unexpected drops in revenue or rising costs can quickly put companies under pressure. It’s important to act early: get a clear overview of your finances, prioritise your expenditure and speak to your bank or financing partners in good time.
What exactly should you do?
- Assess your liquidity position: record your bank and cash balances. Enter outstanding receivables and payables on a day-by-day basis.
- Record upcoming customer orders: Record the resulting income and expenditure, together with other expenditure, over a 90-day period.
- Renegotiate payment terms: Agree longer payment terms with suppliers and shorter terms with customers; arrange instalment payments where appropriate.
- Cut costs: Immediately stop or postpone any expenditure not essential to business operations.
- Secure short-term financing:
→ Discuss bridging loans, overdraft facilities or guarantees with your main bank.
→ Check funding schemes such as the NRW.BANK Universal Loan. - Seek advice at an early stage: Contact funding advisers, the business development agency or Wirtschafts-Senioren Osnabrück.
Contact person at Wirtschafts-Senioren: Michael Schmitt, +49 175 5213165, m.schmitt@wirtschaftssenioren-os.de
