Determine your financial position

Go to secondary navigation
Disaster recovery toolkit

DETERMINE YOUR FINANCIAL POSITION

Once you have reconstructed and reviewed your financial statements, we suggest that you determine the financial position of your business. This is important as:

  • there may be substantial outgoings to pay before you can restart, therefore you will need to assess how to fund these outgoings and whether you can afford it
  • there may be a significant period before you can restart trading and therefore you may have to rely on existing sources of cash until that time
  • it can assist in determining insurance claims, such as business interruption insurance
  • it will be a key factor in determining which direction you can take your business in the future.

State of business finances checklist (PDF, see page 10)