The Times Australia
Mirvac Harbourside
Small Business News

.

Back on top: 5 ways to solve business cash flow problems

  • Written by NewsServices.com


Business can’t always be booming, but it can be incredibly disheartening when our company experiences cash flow problems. It can happen for many reasons: failed payments, over-investing and low profit margins being just a few of them, but one thing’s for absolute certain: it’s not where you want to continue to be!

Thankfully, the best commercial finance brokers Sydney has can help you get on top of your current cash flow problems, as they can use their problem solving skills to come up with a winning solution.

Here are some other solutions to solving your cash flow woes:

  1. Reduce business spending

It may not be fun, and it may seem like you’re doing the opposite of what you’d like to be doing, but reducing spending temporarily or permanently is one of the most important ways to get that cash flowing again.

Prioritising non-essential payments and cutting them out if necessary is the best way to reduce spending without affecting your business’s core operations. Next, see if there is any spending that you could temporarily pause to ensure that you’re not overspending on items your business can really do without, and keep on with this until you see an increase in cash flow.

  1. Follow up on those late payments

Once you have implemented a stricter spending budget, it’s time to follow up on those late payments that are taking money out of your business account. One of the main issues that affects cash flow is late payments, and so this is one of the most vital things to be on top of when it comes to getting that money back in the bank.

The first way to do this is simple: just ask them about the payment to ensure they haven’t forgotten about it! If they know about the payment but are still avoiding it, see if there are any ways to make the process smoother for them, including payment instalments, or whether you can shift the billing cycle to meet the client’s needs.

If the problem continues, you may need to consider long-term methods, such as offering a small discount for a fast payment or to consider business finance to unlock some capital regardless of the customer’s payment problems.

  1. Consider your accounts & forecasting

Using realistic, objective finance forecasting improves your company’s ability to predict lulls in finances. And whilst this may not realise immediate improvements to your cash flow, it will change the outlook for future issues of a similar nature.

  1. Stick to your budget

If you find that you often spend outside of your budget, then this could be your number one issue with cash flow. Compare your budget with your expenditure and see there are items that could easily be cut out to ensure you are meeting said budget. This could be one of the fastest ways to increase your cash flow if you do find that you are spending outside of budget.

  1. Consider business finance

Sometimes the only way to get through a shabby patch is to enlist the best commercial finance brokers Sydney has available. There are plenty of options for securing temporary and long term business capital, as well as options for borrowing lump sums and paying them off over time.

What’s more, brokers can provide your business with a tailored solution that is most necessary for your needs. They can help your business surpass this rough patch in a way that is comfortable for you, securing the capital needed whilst you implement the above-listed strategies.

Property Times

Understanding Centrelink Investment Property Valuation: A Guide for Australian Property Owners

Introduction Owning an investment property in Australia can bring financial stability — but it also comes with responsibilities, especially when it comes to Centrelink assessments. Whether you’re applying for age pensions, disability benefits, or ...

Rubber vs Concrete Wheel Stops: Which is Better for Your Car Park?

When it comes to setting up a car park in Perth, wheel stops are a small feature that make a big difference. From improving driver accuracy to preventing costly damage, the right choice between rubber and concrete wheel stops could save you time, mon...

What Is the Australian Government First Home Buyers Scheme About?

For many Australians, buying a first home can feel like a daunting task—especially with rising property prices, tight lending rules, and the challenge of saving for a deposit. To ease this burden, the Australian Government has introduced a First ...

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages and risks, and choosing the right one depends on your financial goals, ...

Food & Dining

The Perfect Champagne Day Pairing: Luke Nguyen’s Chargrilled Lemongrass Beef Skewers

Celebrate Champagne Day on October 24th with this delicious recipe and elegant pairing from Luke Nguyen, Australian Lanson Ambassador. This special day is the perfect moment to savour the harmony of fine food and exceptional champagne with Maison La...

Italian Lamb Ragu Recipe: The Best Ragù di Agnello for Pasta

Ciao! It’s Friday night, and the weekend is calling for a little Italian magic. What’s better than twirling up a rich, hearty pasta with a glass of bold red wine in hand? The real secret to Italian pasta isn’t just the noodles; it’s those incredible ...

Not all processed foods are bad for you. Here’s what you can tell from reading the label

If you follow wellness content on social media or in the news, you’ve probably heard that processed food is not just unhealthy, but can cause serious harm. Eating a diet dominated by highly processed foods means you’re likely to consume more kil...

Italian Street Kitchen: A Nation’s Favourite with Expansion News on Horizon

Successful chef brothers, Enrico and Giulio Marchese, weigh in on their day-to-day at Australian foodie favourite, Italian Street Kitchen - with plans for ‘ambitious expansion’ to be announced in the coming months.  Italian Street Kitchen: A slice o...

Mirvac Harbourside

Business Times

Australian Innovation Sees Gamer Make a Record, High Above the Mi…

An Australian innovation has helped a professional gamer make a record high above the Miami skyline, by playing a live vi...

Yellow Canary partners with global payroll audit leader Celery to…

Payroll compliance is becoming tougher for Australian employers. Underpayment cases continue to dominate headlines, and a r...

MYER one expands with faster rewards, more ways to earn and incr…

Myer has announced the biggest expansion of the MYER one loyalty program giving members faster rewards,  more ways to ear...

The Times Features

Is Laminate a Good Option For Kitchen Benchtops?

When it comes to renovating your kitchen, one of the most important choices you’ll make is your be...

Albanese Government failing to defend the rights of ex-service personnel

The Albanese Government is failing to defend the rights of ex-service personnel to seek a review of ...

Increase your holdings and hold your increases from a wisely diverse investment portfolio.

What comes to your mind when I ask about which investments are most important to you? I imagine we w...

Canberra Just Got a Glow Up: Inside Kingpin’s Dazzling New Attractions

Canberra’s entertainment scene just levelled up. Kingpin entertainment, Australia’s home of immers...

The Capsule CEO: Ashley Raso’s Reinvention from Property Developer to Fashion Founder

From property developer to creative founder, Raso positions Capsule WD as the wardrobe system resh...

Yellow Canary partners with global payroll audit leader Celery to bring pre-payroll review technology to Australia

Payroll compliance is becoming tougher for Australian employers. Underpayment cases continue to do...

Noticing These 5 Issues? Contact an Emergency Plumber Now

The invisible arteries running through homes, plumbing systems, streamline daily life discreetly...

The Perfect Champagne Day Pairing: Luke Nguyen’s Chargrilled Lemongrass Beef Skewers

Celebrate Champagne Day on October 24th with this delicious recipe and elegant pairing from Luke Ngu...

Bribing kids to eat vegetables might backfire. Here’s what to do instead

It’s a tactic many parents know well: “eat two bites of broccoli, and then you can have desser...