Whether your business is just starting out, or is looking to move to the next level, it is important that you have good processes in place to manage your finances over the short, medium, and long term.
An important part of this is the flow of cash through your business – known as your cash flow.
You need to have enough funds to hand to cover the costs of running your business, as well as any unforeseen expenses that may crop up. The challenge for many business owners is making sure that they do not run out of cash as this can threaten the survival of their business.
It is also equally important to keep realistic and up to date projections of your future sales and cash flow. This will allow you to spot and plan for any periods during the year when you may experience fluctuations in you cash flow.
Our Small Business Hub has a number of tools and resources on this page to help you understand your cash flow and how you can improve it.
Why not start by having a look at our cash flow video for some top tips…