No matter the industry you’re in or how long you’ve been in business, issues with your cash flow are bound to strike at some point. But cash flow finance can do much more for your business than simply staying in the black.
As the name suggests, cash flow is the amount of money coming into and going out of your business. The goal is to have more money coming in than you have going out. Because that’s what you need to keep your business running.
Regular cash flow management will help you to predict how much money will be available to the business in the coming months, spot trends and prepare for problems with your cash flow. Proper cash flow management means you can build cash reserves to avoid the problem or prepare for the quiet months by arranging a line of credit with your bank.
But it’s easier said than done.
Like any business, you’re bound to have quiet weeks or months throughout the year. And since there is usually a lag time between sales and receipt of payment, you’ve got to be sure you have enough money to get by when your cash is flowing out of your bank account, with no sign of any flowing in.
For example, if you’re in the construction industry, you need to be able to pay your contractors, sub-contractors and staff long before you’re paid for the job. That’s when financing may be the perfect solution to keeping your cash flow on track. Use cash flow finance to expand your business by funding large projects or putting on new staff. Or to take care of a big, unexpected GST or tax bill.
That’s where we come in. As business owners, we know that even the most prepared business owners and cash flow management gurus sometimes get caught out by unexpected changes to the economy, industry downturns or losing a big contract. And sometimes, you find yourself in a real pinch.
Cash flow finance can be your saving grace when times are hard, provided you have an experienced broker to help you get the best deal. With your business goals and strategies in mind, we’ll help you keep your business growing.
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