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Reply To: Morning, We are a heavy manufacturing business that has not operated during lock down.  We have reduced a lot of our expenses, including our own wage to almost minimum wage, our staff reduce to a 80% working week when we return. We have arranged with some suppliers to spread payments over 3 months, have reduced rent for March.  But this is not enough and we are forecasting we will not have enough income to pay our expenses, due to the shut down period.  We have forecast it has set us back 3/4 months We have approached our bank regarding the Business Finance Guarantee scheme to help with the loss of income over the lock down to cover the expenses we are occurring while in lock down. Our bank has informed us they would lean money but it would be secured against our family home first. The thought of losing our family home is hard to bare; We have worked hard to have a small mortgage making a lot of personal scarifies to achieve this.  The scheme seems to me is a wolf in sheep clothing. How are other business managing cash flow without loaning money?How are you paying the occurring expenses while not generating any income while in lockdown?What should we pay first? What steps should we be taking?  We have approached our accountant, their advice was1.      Contact your bank2.      Reduce staff How do we get good honest advice to what we need to be looking at?  Thanks

A couple of further thoughts, which you may already have looked into. It’s not clear from your comments but I assume you will have applied for (and received?) the wage subsidy. Also, if you are in a tax paying position for the year ending 31 March 2020, your situation seems to be such that you may defer the business’ income tax payment due on 7 May without suffering penalties or interest, and the same should also be the case if you have GST due on 7 May.