March 9th, 2018.
Smallbusiness.co.uk has some top tips for start-ups on how to manage their cash flow smartly. There are two fundamental goals at the heart of improving your cash flow: controlling your expenditure and regulating your income. To that end, there’s a raft of clever tactics and useful services that can help smooth out peaks and troughs:
1. Chart of accountsIt may sound boring but the first step to good cash flow management is to understand the flow of money through your business. For that, you need accurate, up-to-date information. Whatever your size of business, you should be routinely receiving a regular stream of data about your numbers – debtor books, budgets and cash flow forecasts should be at your fingertips.If you are not currently using one, you should consider investing in an accounting software package which will provide this information on a real-time basis.
2. Combat seasonality by diversifyingFor the full story at smallbusiness.co.uk CLICK HERE