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Having cashflow problems?

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Ways to maintain a positive cash flow 

One of the elements that many small business owners find difficult is to manage cash flow. However, all it takes is a few simple precautions and smarter decisions to make a difference to your cash flow.

1. Keep track of your creditors and debtors. Never sit back and watch your liabilities grow. Follow up each invoice and request customers to make prompt payments or give them a deadline to settle their liabilities.

2. Banks cannot always come to your rescue. Banks aren’t the only source for raising cash. When your overdraft facility is exhausted, consider investigating funding alternatives.

What businesss owners should know about cash flow 

Long term business success can only be achieved when you keep track of your income and expenditure.  Apex Advisors Chartered Accountants help small businesses in the Southern Highlands and South West Sydney manage their cash flow.

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Here are some ways to improve cashflow 

1. Learn the art of debtor management – There is a better way to handle debtors than merely embark on a hunting spree. At Apex Advisors Chartered Accountants, our team can teach you ways to stay on top of who owes you money.

2. Make cash flow projections – A cash flow forecast helps predict a future shortage or surplus of cash, which allows you to make better financial decisions. Proper forecasting will help you work out solutions for anticipated cash shortfalls which include procuring the right type of loan.

3. Streamline invoicing – It doesn’t cost the earth to set up an invoicing system so that customers receive their invoices quickly.

4. Consider different funding options – Investigate alternative options for funding to improve your cash flow. This includes asset re-finance or sale and lease back, which are ideal alternatives to bank loans.

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Talk to Apex Advisors about your cash flow problems

While we strive to provide as much information on cash flow and funding options on our website, it would be prudent to have a one-on-one session. Our team will take time to understand your small business needs and suggest the funding options to suit your needs.

At Apex Advisors Chartered Accountants, we believe in helping you better manage your working capital and improve your skills in cash flow management. Remember, a well managed cash flow can do wonders for your business.

Our team are skilled in providing quick, simple solutions. If you are a small business in Mittagong, Bowral, Moss Vale, Camden, Picton, Narellan or Campbelltown get in touch with us. We welcome the opportunity to help you.