Cash Flow. Where has all the money gone?
Many business owners think if their profit and loss looks healthy then the same would apply to their cash flow. This is often a big mistake as cashflow is the lifeblood of your business.
Even if your business is profitable, you can still have cashflow problems which can threaten to destroy your business. 82% of failed businesses fold because of cashflow problems. 70% of these were profitable!
It is not just meeting creditor payments that you need to account for. If you want to expand and grow your business, you will need to ensure you have the cash to allow for this.
There are many simple strategies that you can implement that will immediately improve your cashflow. Katrina of Addition Accounting has worked with many clients to help them better understand their business cashflow and formulate a plan on how to foresee any future issues. This has led to the business owner not only having peace of mind but also the ability to become more profitable.
Often the reason many business owners have not even looked at this issue is it seems so overwhelming however it does not need to be.
Book a Free Consultation with Addition Accounting. CALL: 07 54769704