Top Tips for Cash Management
As everyone knows, cash is the lifeblood of all businesses; once cash stops flowing then the business will die, as happened to many companies in the aftermath of the recent banking crisis.
It’s just as important too as we start to come out of recession: with renewal of confidence in many sectors, companies will be looking to expand. Taking on new customers can put additional strains on cash flow as capital is tied up in new stock, plant and increased overheads.
Attracting new customers is crucial for any business to survive; getting paid by your existing customers is absolutely critical. So here are my top tips for managing cash.