Have you ever felt under pressure and out of control with your business finances? Far too often small and medium business owners get wrapped up in the never ending cycle of bills and repayments, only to lose focus on the things that matter most.
If you’re struggling to cope with the day to day cash flow of your new business, you’re not alone. A staggering 80% of new businesses fail within the first 18 months of operation, with the vast majority of these businesses simply running out of cash.
While there is undoubtedly a myriad of factors that contribute to a cash shortfall, many entrepreneurs make the mistake of either launching a new business without enough capital, or underestimated the initial income their new endeavour would generate.
Naturally, once you start trying to back pay after an initial hiccup in your financing, it doesn’t take long for things to snowball. And it’s not just start up’s that suffer the cash flow trap.
Whether it’s disruptions to the supply train, interest hikes, rental increases...