Business Management – A Fundamental Strategy for Improving Your Cashflow

Holding cash is much like trying to hold sand. It keeps pouring through your fingers and the tighter you try to hold it the less you manage to keep. However, when it comes to cash if you’re alert to ways that you manage the flow of it in your business then you can certainly improve the situation. A fundamental strategy that will help you to do this is to… Measure Your Cash Needs If you’re going to improve cashflow then you need to know how cash is flowing through your business. The only way you can […]

14 Things to ask your accountant NOW!

Can you give me good ideas on how to improve my cash flow? Can you establish my breakeven point so that I have more financial awareness? Can you create an improvement action plan? What are the key profit drivers in my business? Can you advise on pricing strategies to increase my profitability? Can you provide cash flow forecasts so that I do not get into financial difficulties? What sales improvement ideas do you have that I can act on to increase sales? How do I reduce my tax bills to the minimum legal requirement? What do […]

7 Easy Ways to Improve Your Cash Flow

In the short term a business can run into serious difficulties through cash flow issues even though it may be very profitable. Improve your cash flow management and in the process you can reduce your business problems. 1. Credit Control Make sure that you have a credit control system in place including setting credit limits and payment terms for customers and following up on all debts on the due date. Stop providing credit terms to bad payers to avoid bad debts and to save management time. Understand your large customers payment systems and use them to […]

Tips for maintaining positive cash flow for your business

In the current economic climate, difficulties with cash flow are quite frequent as customers take longer to pay their bills and banks tighten credit facilities. Be always looking for ways  for maintaining a positive cash flow in your business. Proper advance planning  and proactivity is absolutely essential.   Manage Costs In protecting your bottom line, you not only need to focus on increasing your income, you also need to reduce your expenses. The key to achieving a positive cash flow is to understand your costs and their payment dates and review these carefully at least on […]