Inflationary cost of businesses is spiralling out of control, and several factors are contributing to this including post pandemic challenges, international disputes, the availability of goods globally, workforce issues, rising taxes, increasing inflation, utility bills and interest rates (this list is not exhaustive!). The pharmacy business situation is further compounded by the NHS backlogs, wholesalers struggles/closures and a 5-year contract that is not fit for purpose.

Members are already facing significant cash flow challenges, and with winter approaching, massive increases in business electricity costs. 

What can you do to prepare?

To help you understand your financial position better you MUST plan ahead and hopefully the simple to use Cashflow projection calculation tool we have devised will help to ensure that your main business costs are 'visible' to you.
 

Additionally, Pharmaplus is helping to tackle this separately, to try and think differently about how to grow your business especially services and in particular non-NHS income.

Please find attached the Cash flow projection calculator (spreadsheet).

We recommend all members should fill this spreadsheet and take time to reflect on the likely situation and what actions they could take. It is better to see and act on a dilemma then to be surprised by one because of lack of financial information.

Please contact the office if you need any support with this, on how we may be able to improve the calculator or even if you want to discuss opportunities to grow your services further. Please use the google form via this link to contact us for support.