• Cash-Flow FAQ

    • Understand what your costs are and prepare a cash-flow statement. This is a statement of your incomings and outgoings and takes into consideration, not only your bills to suppliers, but your VAT, PRSI and debt repayment schedule.

    • It is important to understand what your fixed costs are, these are costs that will be incurred regardless of your level of operation for example insurance and rental costs. Variable costs will be dependant on operational levels e.g. feed & bedding. 

    • This will give you the information you need to make informed decisions on your business and approach you financial institution if you need short term financial support.
    • Review all costs areas, split  into both fixed and variable costs. Look at all costs and how you can reduce them, can you reduce your feeding and bedding cost if less horses are in training? Reduce your utility costs, have you got stock that can be turned out?

    • Look at your debtors, can you request prompt payment of outstanding bills, arrange a settlement or payment plan?

    • Can you approach your suppliers seeking extended credit term or negotiate delayed payment terms for costs like veterinary fees, farrier costs, feed etc.


    • If you have less horses in training, then the required labour will be less. If business has reduced significantly then look at short-term working or temporary layoffs. www.mywelfare.ie and www.gov.ie/en/service/c20e1b-short-time-work-support/ have more

    • Consider an application for the Temporary Wage Subsidy Scheme - details on www.revenue.ie, under certain circumstances this allows you to keep staff and reduces the wages costs and the PRSI



    • Talk to your bank manager/ relationship manager/ financial institution.Go prepared - know what cash you will need over the next number of months. You will know this after you have completed a cash-flow statement


    Please click on the below boxes to download a sample cash flow work sheet and a template cash flow document for you to use at home:

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