When you go into business, you’re also taking on a certain level of risk – and none more so than when you extend credit to new customers. In an uncertain economic climate, small business owners are acutely aware that each day they are waiting for their invoices to get paid is another day money isn’t coming through the door.
More SMBs are looking to secure their cashflow and funding thanks to the tightening credit market, with a report finding a staggering surge in credit insurance claims during May.
Is your small business caught in a cash crunch? Consider these steps to get customers to speed up and cut that cheque.
No matter what type of business you run or what stage of its life cycle you’re working through, the biggest issue that plagues SMBs is cashflow, cashflow and more cashflow. Here’s some expert advice for getting this vital aspect of your business under control.
Brad Callaughan imparts 12 golden tips for getting your numbers right now so you can start the new year with a bang.
Figures recently released by National Credit Insurance (Brokers) showed that the number of bad debt claims in February 2011 is almost 80% higher than claims for the previous month. The spike has caused cash flow finance specialist Oxford Funding to warn businesses to keep an eye on their debtors.
Try the following debtor management tips, from Dun & Bradstreet, to ease your cash flow: *Set clear policies at the outset of a credit agreement. *Get a signed contract. *Always conduct a credit check prior to the extension of credit. *Issue invoices promptly. *Monitor your accounts receivable on an ongoing basis. *Gradually escalate pressure on […]
Cash flow is the lifeblood of a business, so smart debtor management is crucial to success. Here are some tips on organising debtor payments and creating steady cash flow. Current economic conditions and uncertainty in the market has meant that many businesses are bracing for an economic slowdown. Greg Charlwood, Asia Pacific CEO of global […]
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