| Digital Peninsula Network

Business Link: Ten ways to improve your cashflow

Successful ventures are built upon healthy cashflow. This is where money entering the business is greater than money paid out. If you want to improve your cashflow, here are some simple measures to consider........

1. Take a good look at your costs. Finding ways to reduce your outgoings will quickly improve your cashflow. Identify areas where you are paying out unnecessarily. For example, you might be posting letters when emailing would be cheaper. Only buy things if there is a sound business reason for doing so.

2. Eliminate waste and root out inefficiency. Deal with areas of your business where you aren't getting maximum value for money.

3. Exercise better stock control. Of course you have to weigh up such things as discounts for bulk buying, but aim to keep just enough stock to service your customers' needs. To free up capital, sell off old or obsolete stock at a reduced price.

To see the remaining tips, download the full document...
For more information on cashflow, veiw Business Links factsheet on Managing your Cashflow...
For more information on controlling costs, see Business Links factsheet on Cost Control...

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