Even a profitable business can fail because of poor cash flow, which almost all businesses experience from time to time. Managing your cashflow is critical to running a successful business and we want to see your business flourish and grow. To help you run things more efficiently, we’ve assembled a range of information to guide cashflow management.
Our simple three-step approach
1. Business projection
Read an article on keeping on track with KPIs.
2. Getting paid sooner
Invoice promptly, and actively manage your debtors as soon as payment is due. To get more cash coming into the business you can also consider:
- Reducing your terms of trade so you're paid sooner (e.g. offer a discount for fast payment).
- Increasing your net profit, by either increasing your sales price or reducing your costs of sale or operating expenses.
3. Keeping the business running
There's a range of finance options to help you when cash flow is tight. You can use business credit cards to cover short-term cash shortfalls. Try our BusinessVantage Visa® Credit Card.
- An overdraft, which can be secured or unsecured.
- A line of credit (e.g. using the equity in your home or business).
- Keeping an emergency cash reserve in a high interest, at call account.
How can we help?
St.George can help your business with cash flow in a number of ways, including: