10 Ways to Improve Your Cashflow and Stay on Top of Your Finances
We’ve all heard that old adage ‘cash is king’ but it is still relevant today or perhaps, in this competitive, fast-moving world, it is even more important. Without a steady flow of cash, your business will run into serious trouble. You won’t be able to pay bills or your staff, make purchases or plan for the future. Here are 10 ways to improve your cashflow and boost your financial efficiency: Forecast your business’ cashflow It may sound obvious, but it is surprising how many businesses don’t maintain an accurate cashflow forecast. Look at how much cash is coming into your business each month (cash inflow) and how much is going out (cash outflow). With a regularly updated forecast in place, you should be able to identify seasonal peaks and troughs and plan business activities to ensure the... »