Cashflow is the lifeblood of any business and managing it is essential. This section includes helpful guidance on cashflow management when times are tough.
Cashflow forecasting is vital to manage the peaks and troughs in your business. We have a range of guides and tools to help you monitor your cashflow including a cashflow forecasting template to help get you started.
Many businesses provide credit for their customers. If your business does, you need to have a robust and efficient system in place to manage your cashflow.
Cashflow is the cycle of money moving between you as a customer and you as a supplier.
It's about managing what you're owed against what you owe. If you don't take care of your cashflow, you could end up not having the cash available to settle your bills.
We can offer you plenty of practical help on managing your cashflow, including good practices for invoicing, processing payments and dealing with late payments. For more, just read our guide.
Managing your cashflow can be challenging at times. In this video, Tim Pezzack - a Lloyds TSB Regional Manager for Business Development - looks at three areas that could be crucial in helping you manage your cashflow when it's under pressure.
1. A clearly defined credit policy.
2. Good cash management.
3. Effective spending controls.
Cashflow is the lifeblood of a business. You need to know that you've got enough cash coming in to cover payments going out, such as wages, bills and supplier invoices. For some expert guidance and best practice tips, here are three short guides from the Institute of Credit Management, produced in association with The Department for Business, Innovation and Skills.
Having enough cash to meet your short-term obligations is essential to your business's survival. Here are some key considerations if cash starts to become tight.
When cash runs short
Unless your business has a permanently positive cashflow, you'll need some financing alternatives - so that the timing of cash in and out doesn't become a problem. Find out about some of your options here.
Factoring and financing options
You know how important it is to have your invoices paid on time. It's just the same when it's you who's being invoiced. Here's some good guidance to help deal with any issues that you may face in paying your suppliers.
Treating suppliers fairly
The support from Lloyds TSB has been outstanding. Having banked with them for a number of years, the relationship team really understands our business.
With the support of our facility, the company can further improve its working capital provision and effectively prepare to maximise key trading periods, and build on its impressive development to date.
The lending package we were able to put together for the company reflected its specific needs, and is a good example of the individually tailored facilities we are able to offer our customers.
The business requires an adequate level of funding to ensure it is well placed to take advantage of growth opportunities. Factoring is an ideal solution for start-ups such as O4 which are already experiencing considerable demand.
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