Cashflow

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]When we set out on a fishing trip or go camping, we always check the weather forecast right?! It’s no different in business. The forecast tells us if there’s bad weather (poor cashflow) in store based on the...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]Paying tax is something you’re likely to see as a necessary (but not hugely enjoyable) part of running your business. But are you doing enough to plan your own personal tax liabilities?[/vc_column_text][vc_empty_space height="24px"][vc_column_text]As a director, you’ll pay...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]Small business budgets are empowering. They give you the knowledge and insight to eliminate wasteful spending and get to profitability faster.[/vc_column_text][vc_empty_space height="24px"][vc_column_text]When setting a business budget, you need good numbers. Don’t guess at what’s coming in and...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]It’s not just fire or theft that you have to consider these days, insurance can provide coverage against accidents in the workplace, harm to clients through oversight or error, medical expenses, malpractice, data breaches and much more....

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]It might sound obvious, but it isn’t to many. If current sales levels don’t support overheads and other cash demands of the business, then you will simply run out of cash.[/vc_column_text][vc_empty_space height="24px"][vc_column_text]This means that your business in...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]This isn’t typically a place where you will find a lot of wastage. Our experience is that business owners are very careful about managing their expenses, and the smaller the business is, the truer that statement is.[/vc_column_text][vc_empty_space...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]Your gross profit margin is what is left from your total sales after variable costs are deducted.[/vc_column_text][vc_empty_space height="24px"][vc_column_text]For example, if you are a retailer and your sales in a given period are £1,000,000 and the cost of...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]Often a reduction in interest charges as well as significant cashflow improvements can be achieved with a regular review of existing debt.[/vc_column_text][vc_empty_space height="24px"][vc_column_text]A good place to start is to list all bank loans, mortgages, finance company loans,...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="24px"][vc_column_text]Carrying stock for too long means full shelves but an empty bank account. Similarly, if you’re a service provider and are taking forever to bill for your services, then you’re carrying too much stock in the form...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_empty_space height="50px"][vc_column_text]The second cause of poor cashflow relates to when and how money is spent in your business, including your terms of trade with suppliers.[/vc_column_text][vc_empty_space height="50px"][vc_column_text] Do you have spending budgets in place? [/vc_column_text][vc_empty_space height="10px"][vc_column_text]It’s best practice to prepare an...