Months of economic turmoil for the global economy has led to instability, which particularly affects cross-border business. While larger businesses are often set up to deal with this volatility, a process called hedging provides an opportunity for SMEs to do the same and maximise profits and revenue, minimise costs, and stay competitive.
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.
It’s an unfortunate fact that many otherwise promising businesses fail in the early stages due to cashflow problems. When it comes down to it, cashflow is mainly about people and systems – get those two elements right, and your business could be on track for a much smoother ride.
Difficult economic conditions are creating cashflow challenges for businesses that limit growth. Use this 10-point checklist to review your strategies for growth for the new financial year.
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.
For businesses, the new financial year can be the natural time to review services, service providers and systems and processes. We asked a variety of experts for their advice for making the right switch in the 2012/13 financial year.
The laws around how credit cards work have changed. As of 1 July, amendments were made to an important bill – welcome changes for small business owners who are struggling to keep on top of their credit card debt. Here’s a look at what they will mean for your cashflow.
Is your small business caught in a cash crunch? Consider these steps to get customers to speed up and cut that cheque.
Cashflow remains a key priority for small businesses, with Dun & Bradstreet’s latest trade payment survey showing payment terms have reached three-year highs, with the average time it takes a debtor to pay a bill jumping more than five days in the first quarter of 2011. With cashflow back on the agenda, there’s evidence more businesses are reviewing their payment options to bring cash into the business faster.
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