Cash Flow Management
Easier Cash Flow Solutions
Competition is fierce in the small and medium-sized (SME) business world. In order to succeed you need to make sure that you are taking care of your cash flow. Without efficient cash flow management you are almost certainly going to struggle, and if you are unable to meet the financial demands of managing your trade, that spells trouble, anxiety, and the potential collapse of your business.
Solid cash flow is the essence of good business management and is absolutely critical when it comes to growth. As a business owner you have a lot of money coming in and going out, but if you don’t funnel it correctly, you may soon find yourself stretched and relying on loans to get by.
Don’t run the risk of your business floundering for want of better cash flow – take control today and ensure your success. At NK Business Solutions our accounting Brisbane experts have plenty of experience in structuring cash flow and income for businesses of all sizes and can work with you to get the outcome you want.
What Good Cash Flow Means for Your Business
With good cash flow management, you will see your business more likely to grow and succeed. Why? You will be able to meet the demands of running your business, like paying creditors and making the necessary investments and payments you need for your business to grow.
Cash flow is all about timing; hitting the sweet spot with managing incoming and outgoing cash. Just because you’re recording a profit doesn’t mean that you have money in the bank to pay your creditors, staff, and suppliers. A business cannot operate without solid cash flow – but time and time again a business owner will think, as one naturally does – in terms of sales, costs, and expenses, and not see cash flow for what it truly is.
If you are a small business owner, you’ll most likely be managing the majority of your cash flow decisions yourself, and we can partner with you to make sure you’re on the right track.
What Makes You Vunerable with Cash Flow?
When you are doing a lot of business to business sales (B2B) you’ll find that customers don’t usually pay up front – they’ll ask for an invoice and pay weeks or even months later! So you need to make sure you’re tracking sales and your credit sales. We can help ensure your business is structured such that you can manage costs and cover your expenses no matter where your current business is at.
If you are creating an inventory of products, it means that a lot of your money will be tied up in the product before you can sell it. If you’re a manufacturer, you need to pay for raw materials and then pay for the assembly of the products. If you’re a dress shop, you need to buy the wholesale garments before you sell them.
Understanding how to manage your costs and knowing that profits on paper don’t equal cash flow is important for your business to succeed.
How Can We Help
At NK Business Solutions we have a great deal of experience in helping businesses manage their cash flow and in working with people to get their cash flow on track.
We recommend that you ask yourself two questions:
- What is my cash balance right now?
- What do I want my cash balance to be in six months?
And if you don’t know the answer to these two questions then you should pick up the phone and call us right now, because you’re in for a tough time if you don’t have your cash flow management on track.
Discover the difference an accounting Brisbane expert can make to your cash flow and to the success of your business when you work with us at NK Business Solutions.