Small Business: Improve cash flow effectively and avoid late payments
Posted on by experian
Estimated read time: 1 mins
As a growing business, it’s important to understand the ins and outs of maintaining a healthy cash flow. While the primary goal is to ensure your outgoings are constantly balanced by inflow, you need to be prepared for cash flow problems and large or unexpected expenses. Carefully protecting cash flow by monitoring this movement is essential to long-term survival.
How can I improve cash flow? There are many ways to begin improving cash flow across your business, from ensuring new customers are good payers and setting appropriate payment terms, to more efficient collections strategies and invoicing. There are also advantages to good forward planning, such as spotting opportunities for debt reduction. By tackling cash flow problems from every angle, you can take your business to the next step.
Learn more about how to control the balance of payments coming into and flowing out of your business by viewing our video or downloading our guide.