Cash is king, cashflow is the lifeblood of business and profits are meaningless without cash.
Whatever cliché takes the preference of your tongue, one cannot deny that they all ring true.
The other thing that rings true is the following: Cashflow is the prime cause of angst among those who own or run a business. And it’s not just start-up businesses where this can cause problems – even established, successful ones experience a cashflow crunch.
It’s nothing of which to be ashamed. It’s just par for course in the world of the business.
It’s also why Tax Management NZ (TMNZ) decided to stitch together this simple, easy-to-digest guide.
We know cashflow management is a skill, one that requires discipline. Sometimes business owners need some help to get things right.
Over the next few pages, our aim is to provide some tips and tricks on things you can do to improve your cashflow. This includes how to do a cashflow forecast, receive payments from customers faster, and simple ways you can keep more cash in your business.
We have also included a cashflow assessment that will enable you to assess the current health of your cashflow, and we run the rule over some services in the marketplace you might find useful.
As always, we hope you enjoy the read.