Cash flow: The reason 82% of small businesses fail
Cash flow: The reason 82% of small businesses fail
Cashflow planning is critical to survival and growth in any business. Setting cashflow targets will enable you to predict large cash outflows and respond to changes in your business. Looking ahead with confidence and putting in place cashflow maximisation strategies is key to increasing business value.
Cashflow forecasting helps you to...
- Understand your future operational cash flow – helping you to see the seasonal dips, or the projected drops in income, and get the early warning you need to take action.
- Plan your costs and expenditure effectively – by working to strict budgets, looking at cost management and reining in expenses – so your future outflows are reduced
- Avoid the cash flow issues before they happen – giving you the information you need to plan ahead, take clear action and stay in tight control of your cash status.
Here at Malloch McClean, our award winning accountants and business mentors can help improve the performance of your business by working with you to prepare an annual cashflow forecast. Even if your business has positive cashflow, you should still prepare a forecast as It can help you unlock even more cash just by making a few changes.
Businesses should have a Cashflow Forecast in place before the beginning of the new financial year. Having said that, we can provide this service at any time. Kick start the new financial year by scheduling a Cashflow Forecast with us now, and we can begin to work together to find strategies to help make 2023 your best year yet.