The Private Sector Organisation of Jamaica (PSOJ) in its continued effort to support small- and medium-sized enterprises (SMEs) and help them to navigate the challenges of the novel coronavirus disease (COVID-19), has advised the sector to preserve cash where possible in order to deal with any unforeseen circumstances that may arise during this period of uncertainty.

In an extended list of measures recently put forward by the entity, SMEs were advised to convert as much of their outstanding receivables and inventory to cash in the soonest time possible.

“Collect monies owed and sell out as much inventory as you can; having available cash will be critical in upcoming months — hence preserve your cash for the unforeseen,” the entity said.

http://www.jamaicaobserver.com/business-observer/psoj-urges-smes-to-preserve-cash-for-the-unforeseen-during-covid-19_191979