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Top tips to drive financial inclusion
AND BETTER CASH MANAGEMENT FOR SMES
Cash flow management is crucial to ensure that small businesses – often operating within tight margins – can run effectively and efficiently . From the basics , to tops tips on how you can improve , Ralph Rogge , CEO and Founder , Crezco , highlights everything you need to know about cash flow management for your small business .
ASH IS KING ! Cash is more
C valuable than profit , revenue , stock or receivables and remains critical for any business . It ’ s an unavoidable necessity to pay for staff and suppliers and provides you with the necessary confidence to invest further in your business .
Unfortunately , it is also one of the biggest challenges companies face . A recent survey by Capify found that a majority ( 52 %) of UK small business owners are worried about their company ’ s cash flow over the next 12 months .
Three columns to cash
There are three key columns affecting cash flow : cash coming in ( accounts receivable ), cash going out ( accounts payable ) and access to cash ( equity or debt raise ).
If your business is spending more than it makes , and does not have access to further liquidity , then things are going to dry up quickly .
Seemingly it should be straightforward to avoid cash flow issues . Like trying to lose weight , just assure you burn more calories than you intake :
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EVERYTHING IN LIFE HAS BECOME INSTANT – WE ’ RE IMPATIENT AND WE WAIT FOR NOTHING OR NOBODY .
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