POSTS TAGGED : cash flow management

What’s on a Small Business CEO’s Mind When Trying to Boost the Bottom Line?

Every small business CEO wants to see their business make it, and boosting the bottom line is a priority that never fades. But what’s the most effective way to go about it? While each business has its own unique strategies, certain key considerations pop up time and again when CEOs want to improve profitability.

Thinking CEO

From customer loyalty to cost management, let’s evaluate five critical areas small business leaders focus on to drive their bottom line forward.

Strategies for Customer Retention to Improve Profit

When it comes to increasing profit, nothing is quite as cost-effective as holding onto your current customers. Acquiring new customers is valuable, but it’s often more costly and resource-intensive than nurturing those who are already familiar with your business.…

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The Business Debt Recovery Process

Most, if not all, firms may need to pursue an outstanding debt at some point, regardless of their industry. To help with cash flow, it is crucial for many firms to effectively handle the recovery of unpaid debts.

Debt collection meeting

Businesses must have a comprehensive debt recovery procedure in place to do this, and they may also want the help of a qualified debt recovery solicitor to guarantee fast payment of bills. The business debt recovery team at Myerson Solicitors can help you recover what is owed to your business.

How Long do Businesses Have to Collect a Debt?

Businesses in England and Wales have six years from the due date of the payment to pursue the unpaid debt.…

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5 Cash Flow Management Tips for Small Businesses

Cash flow is the cornerstone of any small business. A healthy cash flow in and out of your business can help you pay expenses on time, invest in new opportunities, and grow your business. However, getting this balance right isn’t always easy. Cash flow management is an issue for most small business owners.

Business owner managing cash flow

photo credit: Tima Miroshnichenko / Pexels

Here are five cash flow management tips that can help you meet your short-and-long term money requirements and boost return on uninvested funds.

1. Monitor your cash flow

Your business needs someone to monitor your cash flow. While the bookkeeper will make daily deposits and update your financial statements, it isn’t their responsibility to monitor cash flow.…

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How Business CEOs Can Manage Cash Flow

No matter the size of your business, it is essential to adequately manage your financial risks. This will help you be successful. One reason it is so critical is that smaller businesses usually have smaller margins, which means they may not be as prepared against a challenging situation.

Cashflow management

photo credit: Tima Miroshnichenko / Pexels

As a small business CEO, it can serve you will to boost your financial understanding.

Look at Personal and Professional Cash Flow

Cash is capital in any business, and if you run out, your organization may no longer function. Having a strong cash management strategy in place is a critical way to plan how you will use the funds you do have.…

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5 Cash Flow Management Mistakes to Avoid at All Costs

Cash flow refers to the inflow and outflow of cash, which is needed for a business to run effectively. For any business, managing cash flow is extremely important. While sales, production, and other areas are important for a business, financial management is crucial. Managing finances, especially cash flow plays a very important role in ensuring the successful day-to-day operations of a business.

Cash flow management

photo credit: Tima Miroshnichenko / Pexels

Effective management of cash flow helps ensure the inflow of cash is more than outflow, allowing the business to have sufficient cash for its effective operations.

Cash flow management mistakes to avoid

While managing your finances, there are some common small business cash flow issues you commit.…

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Managing Your Cash Flow Online: The Key Considerations

Make no mistake; cash flow is king for modern, small businesses.

Cash flow management

Referring to the flow of money in and out of your accounts and the net difference between incomings and outgoings, cash flow has never been more important to the growth of your business. With consumer spending down in the UK and the nation’s growth forecast having been reduced to just 1.7% for 2017, it is crucial that entrepreneurs maximise the flow of capital that runs throughout their business.

Managing it online a key component of this, but it is by no means the only one. Here are some tips on how to manage your cash flow in 2017:

1.

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Need to Get Cash Flow Back on Track? Here Are Some Tips to Help

With so many funds going out of a business bank account to pay for procurement and other costs, it is easy (and very common) for organizations to often struggle with cash flow as a result. However, cash flow is the life blood of all ventures, and needs to be kept track of closely if a business is to steer clear of financial woes, staff layoffs and even closure. If you need to find ways to get your organization’s cash levels more even, read on for some tips you can follow today.

Stressed out business leader

Track Cash Flow Closely

The first step to take if you want to get on top of cash flow is to consistently track it.…

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How to More Easily Manage Cash Flow for Your Business [INFOGRAPHIC]

Every small business has different needs and operations expectations. Managing accounts payable and accounts receivable is a balancing act that accountants perform on a daily basis. Closely monitoring and managing cash flow can help offset payments to venders and overhead expenses and allow you to focus on developing your business.

Business owners should establish habits that allow them to easily track and manage both accounts payable and receivable. Doing so can help reduce the chance of late fees and allow your business to grow more quickly. Read the infographic below from Citizens Bank for 16 different ways to manage cash flow and keep your business in check.…

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