by PBS Partners | Apr 16, 2021 | Business
Turning a profit is at the heart of running any successful company But should profits be the only financial focus if you're looking to create a stable, long-term business?
Cashflow is the beating heart of your business. Without an even and predictable flow of cash into the company, you can't cover your overheads, you can't pay your employees and you can run your day-to-day operations – let alone think about expanding and growing the business.
So, what’s needed is a healthy cashflow position AND a good focus on driving profits.
Keeping on top of the financial management of your business can be hard work, especially if you’re new to accounting and the technical terms that are used to talk about money.
But if you’re going to be in control of your financial destiny, it’s important to get your head around the important process of cashflow management. This is especially true in the current business landscape, where sales revenue may be less buoyant, cash can be tight and the market is going through a challenging time.
Let’s look at some of the key things to understand about your finances:
Talk to us about improving your cashflow management
Whether you’re new to running a business, or a seasoned owner who needs some financial support, we can give you the cashflow advice you need.
We’ll review your finances, delve down into your cashflow and will come up with key ways for you to increase your cash income and reduce your cash expenses. It only takes a few small changes to achieve a far better cashflow position for your business – helping you maintain positive cashflow AND generate meaningful profits.
Get in touch to talk through your cashflow concerns.