Prestige Business Management can help your small business cash flow overcome problems and flourish. As we fast approach the end of the year, many businesses will start investing in additional stock, equipment and recruit new staff to meet rising demand.
However, to meet the perceived “rising demand”, some companies can go beyond their financial means and this creates a cash flow nightmare for SMEs.
Many businesses will then fall into a popular trap – they will put their head in the sand and tackle the cash flow problem too late.
Remember, if you can’t pay your bills, pay your staff’s wages at the moment, then later on down the line your company could be in real danger leading to extreme outcomes – from insolvency to liquidation and the end of your business.
Why Prestige Business Management Can Help
At Prestige Business Management we play a really important part in identifying cash flow problems as early as possible and help come up with innovative ways of countering these problems. Our team can help by providing analysis and reporting tools that can give you the intelligence needed to take action. We take pride in the fact our clients run successful, yet stable, businesses where they are totally in control of their business cash flow endeavours.
What Can You Do As A SME Owner To Improve Your Cash Flow?
Finding solutions to cash flow-related problems requires a thorough awareness of your company and the way in which it does business on a day-to-day basis.
Some basic ideas: You could always talk to your bank. Many SMEs don’t have an overdraft facility. Some even believe they can’t get one due to their size. This is untrue. Why not start a discussion with your business’ banking partner today to see how a business overdraft could provide the right security net for your cashflow activities?
Another solution is to apply for a business credit card. A business credit card can help you spread the cost of equipment and help provide emergency funds. Both avenues can help avert short-term problems for SMEs.
Moving towards a “subscription model” business platform? Do you offer repeat business to clients over a 12-month period? Do you invoice at ad hoc intervals but deal with the clients regularly? Why not sell your services on a monthly or quarterly basis – this means regular income that can help your cash flow remain stable.
Finally, you could apply for a business loan to help re-shape your business processes and operations leading to the ability to earn more income and thus generate stronger revenue streams for your cash flow?
Why Not Ask Prestige Business Management For Advice?
At Prestige Business Management we can provide a range of cash-flow related services and give professional advice on a range of cash-flow process solutions. Why not call us today on 0203 773 2927 to discuss your cash flow and how we could help improve your business cash flow today?
This Prestige Business Management article is for guidance only – please do not utilise the guidance above as a form of financial advice.