Tips for improving Cashflow

As businesses start to recover after Covid-19, cashflow management is more important than ever.

There are a few fairly straightforward things you can do to maximise your cash and help fund your recovery:

1. Keep your cash forecasts up to date
2. Be persistent with your credit control
3. Make sure you are maximising the payment terms with your suppliers
4. Look to make cost efficiencies where you can
5. Manage your stocks by buying efficiently and selling off old inventory. 

This very helpful article from Development Bank of Wales offers 11 tips to maximise cash. 

This is a link to an earlier article I wrote on turning working capital into cash.

If you need any help to maximise cash from your current processes then please do get in touch!