Small businesses should thrive without financial worries. Explore strategies to manage cash flow effectively and keep your business’s focus on your operations and long-term goals.
Tag Archive for Cash Flow
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4 Cash Flow Trends To Know About in 2024
by Nick Chandi • • 0 Comments
Effective cash flow management is pivotal for sustained success. What changes can businesses anticipate and leverage from these trends to improve their financial strategies and successfully adapt to the changing landscape?
Hot Business News Today
80% of Businesses Fail Due To a Lack of Cash. Here are 4 Reasons Why Cash Flow Forecasting Is So Important
by Nick Chandi • • 0 Comments
Cashflow forecasting helps businesses predict when issues may arise and allows them to take action proactively to avoid cash flow gaps.
Hot Business News Today
Merchant Cash Advances: Fighting Cash Flow Uncertainty, One Business at a Time
by Janet Gershen-Siegel • • 0 Comments
Hot Business News Today
5 ways you can increase revenue by using your extra space
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
SMEs have had a difficult time over the pandemic and want to boost their revenue as much as possible.
Luggage storage firm Bounce has five simple ideas to help you get more income and footfall with minimum effort.
Add a return bar service
A return bar accepts packages from the customers to ship back to the seller. They’re a point of contact for the customer – similar to the Post Office, but specifically for local businesses dealing with online returns. There are no set-up fees and it’ll encourage footfall into your establishment.
>See also: What can I do if an EU customer refuses delivery of goods sold and returns them?
Offer package acceptance
You could be the point of contact for the ‘sorry, we missed you’ postal slips. Accept packages on customers’ behalf and keep them safe until they can be collected. You can earn commission on every package sent to you.
Luggage storage
If you’ve got some space to spare, consider luggage storage. It could be a storeroom or a cupboard behind the reception desk – any storage space will do. You can sign up to a storage space service or a luggage storage company. Earn a commission
Hot Business News Today
5 ways you can increase revenue by using your extra space
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
SMEs have had a difficult time over the pandemic and want to boost their revenue as much as possible.
Luggage storage firm Bounce has five simple ideas to help you get more income and footfall with minimum effort.
Add a return bar service
A return bar accepts packages from the customers to ship back to the seller. They’re a point of contact for the customer – similar to the Post Office, but specifically for local businesses dealing with online returns. There are no set-up fees and it’ll encourage footfall into your establishment.
>See also: What can I do if an EU customer refuses delivery of goods sold and returns them?
Offer package acceptance
You could be the point of contact for the ‘sorry, we missed you’ postal slips. Accept packages on customers’ behalf and keep them safe until they can be collected. You can earn commission on every package sent to you.
Luggage storage
If you’ve got some space to spare, consider luggage storage. It could be a storeroom or a cupboard behind the reception desk – any storage space will do. You can sign up to a storage space service or a luggage storage company. Earn a commission
Hot Business News Today
Small firms lost billions of pounds on unexpected contract renewals in 2020
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
Small businesses lost between £3bn and £5.75bn of vital funds in 2020 because annual contract and subscription services were renewed without their knowledge.
Auto-renewals are an issue with most (60 per cent) small businesses. The reason for this is that there seems to be a communication problem between the service providers and clients. Over a third (37 per cent) said they lost money through an auto-renewal that they weren’t aware of and 34 per cent were unaware of services being on a rolling contract when they signed up.
Business insurance is the most common type of contract to renew unintentionally, ahead of broadband/WiFi and phone contracts. Eight in ten pointed to businesses necessities like insurance, WiFi or utilities having the least flexible terms. Over three quarters (76 per cent) of small businesses have signed up for a yearly contract just so they could use the service that one time.
>See also: Small business insurance: An essential guide
Frustration is high amongst business owners who believe that they are ‘locked in’ to too many contracts with no little to no room for flexibility. The research from Superscript shows that 82 per cent of respondents said their current annual
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Bad debts and customer delinquencies: the other headache of Mexican companies
by Drip Capital • • 0 Comments
Seven out of 10 companies are financed through their suppliers with long payment terms.
Hot Business News Today
How to optimise cash flow with cashless payments
by Dan Matthews • • 0 Comments
Originally written by Dan Matthews on Small Business
Cash flow is the lifeblood of enterprise. Plenty of small businesses go to the wall each year, despite being fundamentally strong, because without having a view of how much money they have for payroll, inventory and long-term growth it’s difficult to determine how much money is needed to safeguard their business.
Boosting cash flow, not just sales
It doesn’t matter whether your products and services are in demand if the money from sales arrives too late to pay for business-related costs. This is a balancing act that many businesses struggle to achieve.
The good news is there are several ways to control cash leaving your business, while ensuring money comes in thick and fast. They include leasing big-ticket equipment, negotiating better deals with suppliers, and creating an efficient system to crunch your numbers.
For businesses that get paid through invoices, there are strategies to speed up payment times and ensure your customers are solvent and reliable.
But what about businesses that take payment at point of sale – is there a way to ensure payments hit your bank account in good time?
Upping your cash flow game with Square
Firstly, you need a payment platform with a positive reputation in
Hot Business News Today
9 steps to help you improve cash flow in your small business
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
One of the most important factors for any business is to maintain a steady flow of incomings and outgoings. As a business owner, you’ll quickly learn that any short-term disruptions could cause longer term problems.
Cash flow problems can sometimes happen, and if you do encounter them, there are some steps you can take to try and achieve a balance again. Keep reading for some basic guidance on how to improve cash flow.
Please note, this should be taken as high-level guidance only and is not financial advice. If you have concerns about cash flow issues, consider contacting an advisor.
9 steps to better cash flow
Forecasting
Knowing when money is going to come into your business, where it’s from and when it’s going to go out is important. Creating a detailed forecast can really help your business to manage cash flow.
Once you’ve done this, ensure that it’s working as well in practice as it did in theory. Make sure your forecast is aligned with your actual figures at the end of each month. And, if necessary, re-forecast. Completing these checks regularly can help you spot issues in advance, identify inefficiencies or see something that was overlooked in