Managing Your Cash Flow Online: The Key Considerations

Make no mistake; cash flow is king for modern, small businesses.

Cash flow management

Referring to the flow of money in and out of your accounts and the net difference between incomings and outgoings, cash flow has never been more important to the growth of your business. With consumer spending down in the UK and the nation’s growth forecast having been reduced to just 1.7% for 2017, it is crucial that entrepreneurs maximise the flow of capital that runs throughout their business.

Managing it online a key component of this, but it is by no means the only one. Here are some tips on how to manage your cash flow in 2017:

1.

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Need to Get Cash Flow Back on Track? Here Are Some Tips to Help

With so many funds going out of a business bank account to pay for procurement and other costs, it is easy (and very common) for organizations to often struggle with cash flow as a result. However, cash flow is the life blood of all ventures, and needs to be kept track of closely if a business is to steer clear of financial woes, staff layoffs and even closure. If you need to find ways to get your organization’s cash levels more even, read on for some tips you can follow today.

Stressed out business leader

Track Cash Flow Closely

The first step to take if you want to get on top of cash flow is to consistently track it.…

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5 Tips About Budgeting For Freelancers You Can’t Afford To Miss

The rewards offered through contracting are both personal as well as financial. Despite this, challenges arise; a crucial one being working without a guaranteed income. Below are some simple budgeting tips to help your cash flow.

Freelancing

1. Predict your earnings and set your rate

By already having a contract for the coming six months to a year secured, you should find it far easier to figure out what you will be earning taking into account savings, bills and living expenses. Nonetheless, if you are working on shorter contracts during the year or in between roles, a strategy for you to take is to evaluate what you need to earn to live comfortably.…

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Financial Ebb and Flow: Dealing With the Ups and Downs of Doing Business

Business slowdowns affect nearly every industry. Sometimes, these slowdowns are seasonal — a dip after the holiday shopping season is common in the retail industry, for instance, and the fast food industry tends to see a slowdown in the first few months of each year, when people are fresh off their New Year’s resolutions.

Businessman riding the wave

If you’re a small business that hasn’t been around for very long, these slowdowns can seriously affect both your cash flow and your bottom line. Owners of new businesses tend to freak out when such slow periods come around, often rushing out with unplanned marketing advertising rejigs and hastily done layoffs.…

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How to More Easily Manage Cash Flow for Your Business [INFOGRAPHIC]

Every small business has different needs and operations expectations. Managing accounts payable and accounts receivable is a balancing act that accountants perform on a daily basis. Closely monitoring and managing cash flow can help offset payments to venders and overhead expenses and allow you to focus on developing your business.

Business owners should establish habits that allow them to easily track and manage both accounts payable and receivable. Doing so can help reduce the chance of late fees and allow your business to grow more quickly. Read the infographic below from Citizens Bank for 16 different ways to manage cash flow and keep your business in check.…

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7 Tips to Keep Your Books Out of the Red

It’s inevitable that at some point your business is going to run into financial trouble…

Even if you’re financially secure personally, and able to cover your businesses losses; that’s your money, not the business’s cashflow.

Your business is like a sinking ship? Stay out of the red!

If you have a bank or other type of financial backer who can take care of you when you fall short; the business didn’t generate that money, and it’ll still end up costing more when it comes time to pay the money back (i.e., interest or equity payments).

Take steps to make sure you stay out of the red to begin with. As martial arts legend turned IRS fraudster Wesley Snipes said in his very first box-office movie, Passenger 57: “Always bet on black!”

Snipe’s advice refers to a last ditch casino gambling effort when one’s down to their last c-note: to put your remaining cash on “black” at the roulette table in hopes of cashing in big (see urban dictionary) – i.e., a fifty-fifty chance.…

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