Get a Cashflow Management Accountant for your business
As an SME business owner, you will no doubt have had occasional sleepless nights. Whether waiting on the payment of an invoice from a Customer ahead of your upcoming payroll struggles with meeting your VAT return payment by the deadline date, or even paying your OWN salary on time in order to meet your mortgage!
The ‘holy grail’ is obviously to continuously AND consistently grow your business, which usually means a focus on customers, invoicing and turnover, however ultimately you will know that above all else CASH IS KING!
There are some key steps around cashflow, and therefore the areas for improving cashflow, generally fall into the following segments:
Timing of invoices, payment terms, credit limits
Management of costs and overheads
Marketing and staff costs rising faster than sales, or unnecessary overheads
Too many suppliers, agreeing to short payment terms.
Cash and cashflow are the one thing that impacts directly 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.
It is also important to note that the one in five ‘Startup’ businesses that did NOT make it to Year 5, gave the reason for failure as being cashflow issues – in other words a lack of CASH!
Profitability is key to any business’s success, but
Cash is key to every business’s survival
Sometimes discussions around managing, or better still improving, a business’ cashflow can be ALL about reports and forecasting, but frankly it is generally a variety of simple and practical steps that will make the biggest IMPACT on YOUR cash and cashflow.
My own experience is that it is NOT ONE thing that will improve cashflow e.g. credit control, using Stripe, etc, but a combination of the ‘right’ things being done regularly and consistently each week AND each month!
How could Sakura’s Cashflow service work better for your business?
Meet & Evaluate Business Needs
Rework/build finance team to maximise efficiency
Work to decrease areas of unnecessary business costs
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