Council launches 100 Day Consolidation Programme to assist businesses
30 March 2020
Derry City and Strabane District Council has announced another initiative to help local businesses navigate the current economic difficulties.
The 100 Day Consolidation Programme, which is part of Council's ongoing Business Boost initiative, will provide businesses with their own set of cashflow projections for the next 100 days, that will highlight their short-term cash requirements over this period. This Programme is part-funded by Derry City and Strabane District Council, Invest NI and the European Regional Development Fund under the Investment for Jobs and Growth [2014 – 2020] Programme.
The programme will be delivered remotely and safely using modern technologies. This will allow business owners to participate fully, irrespective of whether they are working from home or from their normal workplace.
There are 12 places available for the programme, and the schedule will involve two remote workshops with a step-by-step guide to building a 100 day cashflow projection model for your business, and engaging with key stakeholders like the bank manager, HMRC, customers, suppliers, utilities suppliers, staff etc.
There will also be two and a half days of bespoke remote mentoring for new Business Boost participants or one day of bespoke remote mentoring for previous/existing Business Boost participants to assist them to apply the key learning points to their own business.
Mayor of Derry City and Strabane District Council Michaela Boyle said the programme was an excellent opportunity for local businesses to seek guidance at a difficult time.
"I think what we are all looking for at this time is clarity, and that is obviously particularly important for our local business owners.
"The 100 Day Consolidation Programme will allow them to develop a clear picture of the extent to which they currently have working capital in their business.
"It will project with accuracy how the cash position of their business is likely to fluctuate over the next three critical months - and what implications that will have for their business in terms of its survival prospects - and, furthermore, businesses can then identify key steps that they can potentially take to free up cash over the next 100 days.
"Many small businesses owners have found themselves thrust unexpectedly into a tough position, and we want to help them address this difficult situation as best they can to get positive results for all involved."
Kevin O'Connor, Head of Business with Derry City and Strabane District Council, said: "We want to ensure that businesses know what they need to do to optimise their cash position and to then actually take positive steps to make that happen.
"These businesses are the backbone of our District, and it's important that they can develop as clear a picture as possible of what the immediate future will look like for them, so they can address and navigate any challenges that may arise.
"Council's Business team are working around the clock to provide up-to-date advice, guidance and assistance, and this programme is a great opportunity for our local businesses to seek further direction."
The Programme will be delivered by highly experienced business consultants who have worked with hundreds of businesses, ranging from micro enterprises to some of the largest companies in Northern Ireland.
Eligible businesses must be based in the Derry City and Strabane Council area and employ less than 50 people.
To register, simply contact Jacqui at Full Circle – [email protected]
to express an interest in the programme. The deadline for submission of expressions of interest is Monday 15th April at 12pm.