Cash Flow Ups and Downs and how to manage it successfully is something that all new businesses need to get to grips with first and foremost. Get to know your numbers. Get on top of your numbers. For many small business owners, this is not a task that is particularly appealing. After all, you didn’t start your own business to become an accountant – unless you started your own business as an accountant!
That being said – you still need to know your numbers, get to know your cash flow. Otherwise how will you keep a handle on money coming in and money going out?
You need to keep on top of your cash flow if you are serious about making a success of your business.
Sadly statistics show that many businesses fail within their 5 years of trading with almost half closing their doors in their first 12 months. But for those who keep going and are successful, they have their numbers under control – or make sure they are working with someone who has the numbers under control for their business.
Your accountant should be able to guide you in order to keep your cash flow under control or this could be a service that they can take control of for you and your business. This then allows you to focus on the core of your business – and more than likely the whole reason that you started your own business.
It’s not just down to keeping control of your financials but by doing so, you are more likely to exceed your own goals for sales and profit. This can in turn help you to grow your business further (or significantly expand) and create more opportunities for employment.
The businesses that we work with have received guidance on how to get control of their cash flow, how to know and own their numbers. And they’re achieving excellent results because of this.
So if you’re worried about your numbers – or have a lack of knowledge about how to get to grips with your cash flow, which is causing sleepless nights, worrying week to week about how you’re going to pay suppliers, overheads, your own personal bills, then you need to take action. NOW.
Oh and don’t worry, whatever your situation is, we’ve probably dealt with it before and as a refreshingly approachable business, we’re not scary to deal with. We genuinely have your best interests at heart and if we can help you turn things around for your business with regards to cash flow, then we all win!
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