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Cash Flow Management
Having a profitable business is (or should be!) the goal of all business owners. This generally translates into an income focus for the owner, wanting to gain more market share, more sales or more clients.
Often this focus neglects a vital element of business survival strategy, that of being able to pay the bills as and when they fall due. Many businesses have fallen even though they made great paper profits simply because the cash dried up due to slow debtors or overloaded stock levels.
We recommend a regular cash flow health check for your business, where due consideration is given to all elements of the cash flow cycle, from sales and debtors, to inventory turnover, and short and long term banking facilities. Not only does this allow the business to maintain a degree of comfort in regard to cash in the business, but more often than not reveals areas where the business can recover substantial savings.