Preparing for Changes in Demand

“The return to normal is a good time to carry out a periodic review of the business. The pandemic has brought about changes in demand for products and services, payment conditions, the financial health of clients and suppliers, prices of raw materials and shipping costs for clients in the import sector. All of these impact the company’s cash flow, and the credit needs may change as a result. After analyzing the financial situation, it is worth meeting with your banking advisors and specialist consultants to examine the balance and credit needs to enable smooth, uninterrupted business development. This is an important time to manage your cash flow, until business returns to pre-pandemic levels, even taking into account the new and different business opportunities that have opened up. It is also important to consider increasing stocks of products that are in-demand and to minimize products that are no longer as relevant. In addition, online sales are of particular importance at the moment, so it is important to ensure the business is equipped to handle sales through these channels by setting up or upgrading an existing online store.”

The writer is the manager of the Itzhak Sadeh branch of Bank Hapoalim in Tel Aviv