5 Cash Flow Tips for Business Owners
Whether you’re just starting up or have been running your own business for years, the maintaining of positive cash flow is crucial. Here are five top tips to help you achieve it:
Analyse your cash flow regularly: We can help you to create cash flow statements and check key figures on a regular basis. This highlights any red flags that can be fixed before they become significant problems.
Reduce your expenses: This may sound obvious, yet so many business owners are paying more for everyday expenses than necessary. We can help you to downgrade and even eliminate certain costs.
Speed up the payment process: Some customers pay slowly simply because the payment process is clunky, time-consuming or overcomplicated. This can be greatly sped up through features such as a ‘Pay Now’ button on your invoices.
Chase missed payment: We understand that chasing up overdue payments can be awkward and stressful, which is why we offer a professional credit control service.
Forecast for the future: When you know where you stand, it becomes so much easier to strategise and plan for the future. This can mean the difference between delayed payments and a health cash flow.
Get in touch
If you expert advice and cash flow management services, call our Yorkshire office on 01482 235575, our London office on 0207 885 0605, or fill in the contact form below.
Tagged as: Accountancy Tips & Advice
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