Services

Cashflow and Cashflow Forecast Services

Cash and cashflow are the one thing that impact directly on the success and ongoing viability  of your business ! As a business owner you need to ensure that every month you can pay your staff, pay your suppliers, pay HMRC – and also pay yourself.

Are you struggling with your cashflow, uncertain as to how to improve it and suffering sleepless nights worrying about paying Suppliers, staff of HMRC?

It is also important to understand that of the 1 in 5 ‘Startup’ businesses that did NOT make it to Year 5, the reason given for failure were cashflow issues – or in other words a lack of CASH.

Therefore in my view, apart from turnover and profits, the most important issue for any business owner is their cashflow i.e. CASH is KING!

Problems of a poor cashflow:

So what are the typical signs that cashflow is a problem for your business ?

1. Struggling with meeting the payroll payments at the end of the month

2. Difficulties with getting payment from your Customers – and seeing your unpaid invoices
rising

3. Avoiding certain Suppliers as you know that invoices are overdue

4. Worrying as you approach the end of each quarter with the VAT return payment due shortly

5. Having ‘surprise’ or unexpected payments urgently appear during the month

6. NOT paying yourself on time (or at all)

How to improve your cashflow:

If you want to improve your business' cashflow (who doesn't ?), our experience is that it is not one single thing that will improve business cashflow, but a combination of the ‘right’ things being done regularly and consistently each week and month! 

These generally fall into the following areas

Customer management – timing of invoices, payment terms, credit limits

Management of costs and overheads – marketing and staff costs rising faster than sales, or unnecessary overheads

Supplier management – too many suppliers, agreeing to short payment terms

Management of business trading patterns – seasonal trading, large customer projects

One key tip for managing your cashflow:

Costs...

It is continually important to ensure any unnecessary costs are not still being incurred to your business i.e. check direct debits, software licence numbers, freelance v employment costs etc.

Costs are a critical aspect of financial management, and it's essential to regularly audit and optimise them to ensure the financial health of a business both now and in the future.

The 10 tips to improving your cashflow

The 10 tips to improving your cashflow

Cash and cashflow is the one thing that impacts directly on the success of your business i.e. you need to ensure that you can pay your staff, pay your suppliers, pay HMRC and also pay yourself!

READ MORE
HOW TO IMPROVE YOUR BUSINESS CASHFLOW

How to improve your business cashflow

The ‘holy grail’ is obviously to continuously and consistently grow your business, which usually means a focus on customers, invoicing and turnover.

READ MORE

With the implementation of our cashflow and forecasts services, you can identify any large payments in advance.

Knowing this information ahead of time, you can then take any necessary action(s) that may be required to taken to manage your way through these tricky periods i.e. with time to arrange for an overdraft, chase that OLD debt, delay a Supplier payment etc

Ensure your cashflow is always ‘in the black’, so contact us to find our more.

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