We know that cash flow is what keeps your business afloat. As businesses the world over grapple with the consequences of a global pandemic, many will be seeing strains on their cash flow due to cancelled orders, cancelled events, supply chain issues and changes in consumer spending.
Keeping your cash flowing is especially important for small businesses and start-ups. While this is a challenging time for business, there are practical steps you can take to combat cash flow issues.
Do you need some tips on how to keep your business from running aground? Download our FREE eBook Cash Flow Tips to Help Your Business Grow.
This timely guide to keeping your cash flow healthy clarifies how cash flow works and offers simple steps you can implement today that will safeguard the financial health of your business:
Cash Flow – How It Works to Keep Your Business up & Running
– How keeping accurate and up to date records ensures the operational health of your business
– Know when the time is right to expand and grow the business and when to pause and adjust your strategy.
Anticipating Cash Flow Challenges and Fluctuations
– How unexpected expenses and price increases can impact your cash flow when operational costs remain constant
How to Analyse cash flow
– Creating a cash flow record by establishing cash on hand as well an accurate record of all payments made and received
Cash Flow Tips to Help Your Business Grow
1. Forecasting your cash flow – develop a road map based on your present circumstances and foreseeable events.
2. Staying up to date with accounts payable.
3. Building connections with lenders.
4. Making your money work for you.
5. Speeding up cash inflow with payment terms, discounts and more.
6. Keeping a handle on cash outflow with extended payment terms, reviewing profit margins, and optimizing employee costs, maintenance and advertising spend.
7. Rethinking distribution and delivery strategies to save you money and why you should shop around for more competitive shipping suppliers.
Keeping a close eye on your cash flow figures is vital in order to effectively manage your business operations and will ensure your business has a strategic advantage. In these challenging times business executives are having to field numerous complex issues, and drawing up cash flow sheets could take up valuable time that could be better spent focusing on your business strategy and growing your business. This is where outsourcing to the experts can really help you.
Let us handle your bookkeeping and accounting requirements. With over 50 years of combined experience in the chartered accounting field, we are passionate about empowering Dubai business owners to drive business growth and profitability, and helping them solve their business and financial challenges. Download our FREE eBook Cash Flow Tips to Help Your Business Grow.
