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Tuesday, 22 April 2014

Half of SMEs have problems with cashflow

According to Bibby Financial Services’ (BFS) most recent report, Livelihood businesses in the UK, half of the smallest businesses in the UK (with fewer than nine employees) have struggled with cashflow and bad debt over the last year.

Chief Executive, David Postings, of BFS commented, “Already this year, we have seen signs of economic recovery but it’s imperative that small businesses review their sources of finance so that they have working capital to help fulfil orders and continue to pay staff”.

Reduced supplier payment terms, falling margins and ‘bad debt’ are the top three issues faced by SMEs.

Controlling cashflow is vitally important for any business so it’s useful to have a daily template which ensures you know exactly what goes in and out of the company. That, together with cost-cutting and managing debtor collection, can help improve your company’s cashflow. Read our page on company cashflow problems for more tips and advice as well as a free cashflow template.

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