Press Release Summary = Effective cashflow management is crucial for business success regardless of industry sector or location. So On Stop has put together its top tips to help you manage your cashflow and drive your business forward.
Press Release Body = Effective cashflow management is crucial for business success regardless of industry sector or location.
No one understands this better than On Stop which was established to help companies having trouble with late payments. According to research carried out by the organisation, the vast majority of new businesses that get into debt in their first year do so because of ineffective cashflow management policies and not being paid on time.
On Stop is a member service which provides business support and intervenes where necessary on its members’ behalf to chase unpaid bills. In most instances where it has to do this, outstanding invoices are paid within ten days.
The following tips have been prepared by On Stop to help you manage your cashflow and drive your business forward:
1. Budget carefully to make sure that you do not spend more than you can afford.
2. Incentivise early payment and build strong relationships with customers that pay promptly; they are like gold dust!
3. Use an invoice book to enable you to see easily who owes you money and when the bill was payable.
4. Work out what your break even point is and make sure that your expenditure does not exceed your income.
5. Pay bills on time but not before they are due.
6. Do not be afraid to chase up late payments.
Web Site = http://www.onstop.co.uk/cashflow-management.htm
Contact Details = OnStop Limited Enterprise Way Airedale Business Park Keighley Road Skipton United Kingdom BD23 2TZ
2012
