Managing Your Cashflow

Staying on top of your cash flow is a great way to keep an eye on the health of your business. Business owners who are watchful of their cash flow tell us that they feel more in control of their business expenditure.

Reduce your admin

Let your preferred accounting software do the heavy lifting so you can save time.

Manage Your Costs

We can help you consolidate and re-finance loans and assets to reduce costs.

Get Paid

Good systems and strong credit control will help you improve late payments.

Reduce your admin efforts

Using online software to reconcile your accounts and banking data is a great way to reduce the time you spend on mundane admin tasks. Modern accounting software packages help you keep your information up-to-date, which in turn means you always have a clear view of your business’s cash position.

In addition, accounting software can be a great business tool that makes it easier to apply for business finance. Our platform is compatible with the following products:
Please note that we do not endorse or cannot recommend whether these products are a good fit for your business needs.
Cash flow problems can cripple a small business. Research found that almost half of UK SMEs are being paid late, at an average delay of 72 days.

How do you prevent late payments causing you major problems?

Manage your costs

How many recurring monthly, quarterly or annual expenses do you have? When did you last review your utilities, payroll, insurance or other service providers? By not reviewing expenditure regularly, you may be spending more money than you need to. The same applies to the cost of outstanding loans or leasing arrangements.

Do you have equipment you rarely use or inventory that’s fast becoming obsolete? Why not consider selling it to generate some extra cash? And when you purchase new business equipment, check your leasing options.

By leasing equipment, you can access the latest kit while expensing the lease costs on your business taxes.

Master the art of getting paid

Different businesses face different challenges. Clients in a shop will expect to pay you, before they get to take the product home. But what if you provide services remotely or need to send invoices?

The first step is to make sure that any payment milestones are clearly set out before you start. That way clients know when they are expected to pay you. Lets say you are a plumber and have done the work, you could use a mobile app to accept card payments before you leave.

Sending invoices also needn’t be complicated. Many accounting software providers include mobile apps for you to use. You set up a template once and enter each client details’ on the go. This approach also ensures that your invoices are easy to read. And depending on the software you use, may include links on how to pay you.

If all else fails, then you will need to send reminders to chase up payments from overdue clients. In this area, you can again benefit from good accounting software. Since late payment has been a big issue for small businesses, software companies have reacted and included the option to set up alerts. This could be before an invoice becomes due, and in set intervals after the due date.

Plan Ahead for Credit Before You Need It

A healthy working capital buffer is a good way to fend off cash flow problems. But with bank overdrafts less and less available, it is worth looking at other options early.

Thats because lenders generally take a negative view when businesses appear desperate. From their perspective, it is an indicator that the business is not spending enough time on managing their finances.

As a business owner, it is worth considering to prepare a cash flow forecast and to review this regularly. This can serve as a great way to see crunch points ahead of time, and to provide to lenders as evidence on how you run your business. This makes it easier for you to have a discussion around unexpected costs, because it signals to the lender that you are doing your homework. But as everyone in business knows, surprises can and will happen and you can trade your way out of them if you have a good grasp of your finances.
In addition, bank accounts are an important source of information about a business and its performance, and as such are often requested when applying for business finance. Our platform is compatible with the following providers:
Please note: we do not endorse or cannot recommend whether these providers are a good fit for your business needs.

Borrow from £1,000 to £5 million or more

Terms from 1 months to 5 years