A helping hand with your cash flow
Cash flow is king when it comes to running successful small and medium-sized businesses.
But it’s not always an easy thing to get to grips with when you’ve got dozens of other issues on your mind in a busy, fast-moving world.
Help can be at hand though through the services of a professional bookkeeper – and in the virtual world we live in you don’t even need to find them office space!
A cash flow forecast can help you keep your business on an even keel – it means you can project how much money is coming in, and how much you have to pay out on a regular basis.
It will help you identify peaks and troughs in your finances – and you can then use it to plan ahead so your business can run smoothly.
Poor cash flow can affect your business in a number of ways:
- Bank charges – if your business is short of cash, you may need to get a short-term loan (interest on which can be expensive) or incur bank charges if you go over your overdraft limit.
- Growth – Your business cannot grow if you don’t have the cash to invest in it. You can’t increase sales, or go after that new contract if you don’t have the money to fulfil your obligations.
- Missed opportunities – Lack of cash could mean you can’t invest in that new piece of machinery to help your business expand or take advantage of a special offer from a supplier.
- Late payments – You may be forced to delay payments to suppliers, and that can lead to a bad relationship which could even see you losing that service. Finding a new supplier could prove more expensive.
- Stress – If your business is short of cash, it can affect all areas of your life and can have a detrimental effect on your family, health and mental state.
- Workforce – If you are stressed, your workforce will pick up on this and it could affect morale.
- Insolvency – Ultimately, if you have a cash flow problem, it could lead to legal action from suppliers and you could be forced out of business.
If you don’t have time to sort out your cash flow, or you’re struggling to get on top of it, why not ask Granville Bookkeeping for help?
We can help you come up with a cash flow forecast or help you chase up sales invoices – and we don't even need to leave our own office to do it!
With modern technology, video conferencing or Skype, no-one needs to travel, you don’t need to worry about finding another desk and you can concentrate on other areas of your day to day business.
And that could save you even more cash!
If you think a bookkeeper could help you with your business, contact Kim Kelly on (01952) 402632 or 07814 690878, or email firstname.lastname@example.org