If you’re suffering from business distress, then we can help. Read our guide here at The Debt Free Community. We’re business owners too and understand your issues.
Businesses require stable weekly cash flow in order to sustain them selves, let alone turn a good profit. The most common reason for a business fail is the lack of cash flow.
Let us run through some of the factors that might help you out. Through this, you can start implementing today to reduce the stress in your business.
Provide full transparency
It’s important to provide clear and concise information to stake holders. It needs to be up to date and relevant.
There needs to be a database of receipts and payments. This is best done through a solid accounting package. We recommend Xero though there are many out there.
Focus on constant measuring and monitoring. It will help both you and your stakeholders sleep better at night time. Indeed, this is a key towards long term success.
Reduce small spending
Opt for reducing cash flow wastage through finding greater value. This can really make an impact on your business budget, and thereby improve your cash flow.
Savings can include:
- Reducing staff numbers if truly possible
- Purchasing product or equipment in bulk
- Selling off assets not being utilized currently
- Reducing owner salary from their business
- Asking for discounts from key suppliers
These savings whilst small can make a significant impact. In fact, the extra cash flow can be used towards scaling your business towards the profitable level.
Consider debt consolidation
If your business was founded on debt and has multiple loans, then consolidation is a good strategy. This step will likely improve your financial circumstances through reduced interest rates.
We can actually help with that. Our services have helped thousands of Australian business owners. If you’re wanting to breathe in business, then seek us out.
Get professional advice
We’re professional, but we’re friendly too. In fact, we’re very much community-minded. Our focus on relationship building first.
If you’re suffering business distress, then pick up the phone. Speak to a counselor, a financial advisor or your accountant. Regarding debt reduction matters – we can certainly help!
Business distress can be solved
We’ve helped thousands of Australians. Our advice is very helpful, and we can help you make improvements over the phone.
In fact, some business owners have moved more towards a profitable position through what we recommend. Our phone calls are totally free. We’re ready to help you right now.
Give us a call or simply get in touch. We’re happy and willing to speak to people all across Australia, especially those in business distress.