Business Decalogue against COVID-19

Eduardo Flores presents in Mi Director Financiero recommendations for companies on how to manage the coronavirus crisis
La gente llega a la Estación de Atocha en Madrid el 13 de abril de 2020, fecha de reanudación de las operaciones en algunas empresas tras un paro de dos semanas por la COVID-19


  • Prepare your Treasury Forecast to find out how much money you have and how long you can hold out.
  • Call your clients to see if you will be able to collect without problems. Be flexible if they have liquidity problems and are a reliable client.
  • Pay your suppliers so the money wheel doesn't stop and we don't collapse the system.
  • If you are short on cash, try the following:
  1. Prorate payment to your suppliers
  2. Rent remission
  3. Default on bank loans
  4. Eliminates unnecessary expenses
  • Take advantage of the tax deferral offered by the Government for payment on April 20. You can defer up to 6 months, the first 3 without interest
  • If you are going to take advantage of a force majeure ERTE, you must know that, once the state of alarm has passed, you must remain at the same level of employment for 6 months. If not, you will have to return the social security benefits you saved.
  • If, on the other hand, you see that your only option is to be fired, you cannot do so now for objective reasons, but it will be considered inappropriate. The worker's compensation will not be 20 days but 33 days.
  • If you meet the conditions to ask for "unemployment of self-employed" and pay the minimum quota of 286 euros, your benefit will be 661 euros per month while the state of alarm lasts.
  • If you need bank financing, we advise you to ask for an ICO guaranteed at 80% by the Government. If things go very badly, you or your company will only be liable for the remaining 20%.
  • If all this is too much for you, go to a professional like the professionals of MI DIRECTOR FINANCIERO. They can help you with your Treasury Forecast and apply all these solutions and see which ones are best suited to your situation.