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Monday, 11 April 2011

Cashflow Problems for April

This month and next are going to be a quiet one for many businesses which may be a welcome relief for some workers.  However, for directors trying to bring in payments or finish jobs the extended holiday is going to be a difficult time. 

Easter is falling in late April, the following week there is the Royal Wedding, and the week after that we have the first May Bank Holiday.  In effect, businesses are losing 4 working days in the two weeks either side of 1st May

So advice for businesses is don't leave it too late to try and finish jobs and collect payments. Set targets for completion and invoice chasing and don't commit to any spending unnecessarily until after the holiday period.

If you do think you might have issues with cashflow then don't think that it is just going to resolve itself.  Businesses may have other threats like losing a customer or a key member of staff going sick at any time.  If these cannot be weathered then the business may need to seek advice.

1 comment :

  1. There were a lot of shops throughout the north that lost out because of the amount of bank holidays in such a short space of time. A lot of companies had to pay overtime rate for the Royal wedding day. This surely would have put a strain on their cashflow.

    ReplyDelete

Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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