Cash Flow Management Programmes
How Important is Cash Flow Management?
Cash Flow management is one of the most critical success factors for small businesses. Many successful businesses have ran into problems because the amount of cash coming in doesn’t compare with the amount of expenditure going out. Cash Flow is the life blood of any business. Many companies don’t have a proper handle on their cash flow situation. Put bluntly, without good cash flow systems you cannot succeed! Many studies show that insufficient capital is one of the main reasons for small business failure, coupled with lack of experience, poor location, poor inventory management and over-investment in fixed assets.
How to Improve and Maintain Cash Flow?
Most business owners see growth as the solution to a cash flow management problem. That’s why they often achieve their goal of growing the business only to find they have increased their cash flow problems in the process. Plan for growth and investment so they that there are no surprise later on. Here are 5 practical areas to consider in order to better manage cash flow for the growing business.
- Proactive Collecting of Receivables
- Tighten Up Credit Requirements
- Increase Sales beyond current levels
- Pricing Discounts for Early Payment
- Securing Short-Term Loans
Every business must have an effective cash flow system in order for their business to success. Cash flow is the single most important business issues for SME’s and the most common reason given for businesses who run into financial difficulties. In most cases cash flow can be improved in most situations provided the situation hasn’t been allowed to get too far out of hand.
If you are experiencing cash flow difficulties contact Avid Partners today to see how we can assist your business through establishing an effective structured cashflow system. Arrange a free consultation with us to talk through the specific aspects of your business and we will tailor a package to match your needs. You can phone us on 01 4286900, email us at advice@avidpartners.ie or alternatively you can fill out the form below.
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"I have dealt with Jamie O' Hanlon, of Avid Partners - Accountants & Business Advisors Chartered Certified Accountants, for a number of years as he is auditor to one of my clients. I have always found him to be professional and responsive in his approach." -
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Having got to know the company through the BNI we decided it was time to change accountant. What impressed me about Avid Partners was their professionalism. Their attention to detail was second to none and as an added bonus they are a sounding board to all of my questions. Avid also potted some irregularities in my accounts from the previous few years and saved me substantial money on the years tax bill. Avid Partners deliver a first class service which is everything you could want from an accountant and I am happy to give this endorsement. -
We at Fitzies Bar have worked with Avid Partners - Business & Financial Advisers for over five years. We find that the advice and support offered to us in addition to all of our book-keeping requirements to include payroll, VAT, etc. is invaluable and has helped to contribute to our continued growth especially in these challenging times. I would have no hesitation in recommending Avid Partners. -
Jamie and his staff are a pleasure to work with. They respond promptly to any queries we have and are critical to our financial planning and the future needs of our business. I would highly recommend them to anyone interested in accounting services. -
We at Stillorgan Cycles have used Jamie and his Team at Avid Partners – Accountants and Business Advisers for over five years. We have found that the retail advice and support offered to us is second to none and has helped to contribute to our continued growth especially in these challenging times. I would have no hesitation in recommending Avid Partners. -
I met Avid Partners through a local business networking group. We had been using the same accountants for years and found that in these harsh economic times that we were not getting good enough value or service. We were very impressed by the company's professionalism and enthusiasm and genuine interest in helping us get the most out of our business. As a result we are now clients of Avid Partners and are thrilled with our decision.
