BUSINESS
Recovery
EIGHT WAYS TO HELP YOUR THERAPY BUSINESS SURVIVE IN A PANDEMIC
W
Jonathan Amponsah provides some sound financial advice…
E now know that although the lockdown is being slowly lifted there are still plenty of small businesses that will remain closed or at best will operate at a reduced capacity. Given social distancing many therapists must be wondering how their business can survive. In this article, I will explore ways to help your business keep going, plus add links to some free templates, tools, white papers and resources to help you save time, reduce your stress and navigate through the crisis.
Make looking after yourself a priority. Personally,
(tax, rent, staff, agreeing longer payments terms
I’ve found the following people, who’ve done
with suppliers etc.) and where you can make
extraordinary things in the face of adversity,
more money (new business ideas, speeding up
inspiring: Norman Cousins – ‘Anatomy of an
customer payments etc.) and then review your
illness’, Viktor Frankl – ‘A man’s search for
tangible assets – is there any way to leverage
meaning’
those?
2. FINANCIAL SURVIVAL ACTION PLANNER
mind financial action planner’ here:
You will need an action planner that covers
contains a Financial Survival Checklist and the
1. LOOK AFTER YOURSELF
the government and how it
The current crisis has made a profound impact and will continue to affect our physical, emotional and mental wellbeing. Some of the help from the Government (furlough and grants) is coming through now. Hopefully these will go a long away to helping avoid total collapse and will ensure the economy gets back up and running. I hope your skills as therapists will mean you are better equipped than most to weather the emotional storm.
areas in your business to review, as well as a checklist on all the support from applies to you. I suggest creating
To save time, you can download the ‘Peace of www.thetaxguys.co.uk/client-area/ This Government Stimulus Planner. Grab it and work through it with your accountant.
3. APPLYING FOR GOVERNMENT HELP
a spread sheet
Ask your accountant about
and listing all the
what help is available to
grants, loans and
you. Make a list of the
deferred payment
options and then work
options available
through them to see
to you. Then
where you qualify.
look at where you
For example, if you’re
can save money
sole trader/freelancer there is a grant available. It’s important to understand your own financials and the rules of the scheme before applying. If you are eligible, you’ll have received a letter from the government. This scheme opened on the 13 May 2020 and you need to register for an online account and prepare to file the claim. It’s worth getting help from your accountant as you need to get your paperwork right – not just on the claim, but on your tax returns too. Similarly, if you run a limited company (including one-man band companies) there is help available. These keep changing, so please watch out for the dates and deadlines. You will find both action planners and furlough paperwork templates here:
www.thetaxguys.
co.uk/client-area/
20
holistic therapist 2020
holistictherapistmagazine.com
