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Cash Flow Management

All successful small businesses will have one thing in common: good cash flow management. This can be the difference between success or failure and is one thing that there really is not replacement for. Maintaining a healthy cash flow is a challenge in any industry, no matter how much turnover you’re experiencing – but often this is one of the first things that small businesses struggle with.

Being short of cash has many implications. Not only will you be regularly faced with being unable to meet the demands of staff wages, suppliers and HMRC, but you’ll also be unable to invest in growth. Tight cash flow strangles a business, meaning you have no flexibility and and living invoice to invoice. This is one problem that can mount up; getting behind on supplier payment is one thing, but you’ll soon be receiving letters from HMRC. Many businesses fail because they fail short on cash – and many of these are owed huge sums by their customers, more than enough to cover their debts.

So how can you boost the cash flow of your business? You could use your sales ledger as a valuable source of working capital through using invoice finance to bridge the gap between the issue of an invoice and customer payment. An invoice finance lender can release a pre-arranged percentage of the value of an invoice from your sales ledger, normally within just 24 hours.

Invoice finance is a popular and flexible way to boost cash flow. It’s accessible for many types of business, from medium sized right down to small start ups in all sorts of industries – if your business issues invoices to customers on credit terms, then you could be eligible. If you’re struggling with cash flow, then invoice finance could be an attractive option.

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