Comments on: How to keep cash flowing in a banking crash http://www.smallbizpod.co.uk/blog/2008/10/01/how-to-keep-cash-flowing-in-a-banking-crash/ The small business blog of SmallBizPod - inspiration and practical advice for entrepreneurs Mon, 22 Feb 2010 15:03:56 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Alex Bellinger http://www.smallbizpod.co.uk/blog/2008/10/01/how-to-keep-cash-flowing-in-a-banking-crash/#comment-151183 Alex Bellinger Thu, 29 Jan 2009 19:50:07 +0000 http://www.smallbizpod.co.uk/blog/?p=962#comment-151183 Thanks Russell, useful, practical information. Like the look of your blog too. Thanks Russell, useful, practical information. Like the look of your blog too.

]]> By: Russell Cavanagh http://www.smallbizpod.co.uk/blog/2008/10/01/how-to-keep-cash-flowing-in-a-banking-crash/#comment-151182 Russell Cavanagh Thu, 29 Jan 2009 19:20:17 +0000 http://www.smallbizpod.co.uk/blog/?p=962#comment-151182 HMRC's "Business Payment Support Service" provides a useful way of spreading tax payments to the Revenue. More information on http://russellcavanagh.com/2/?p=145 for those businesses genuinely struggling but still viable. HMRC’s “Business Payment Support Service” provides a useful way of spreading tax payments to the Revenue. More information on http://russellcavanagh.com/2/?p=145 for those businesses genuinely struggling but still viable.

]]> By: Alex Bellinger http://www.smallbizpod.co.uk/blog/2008/10/01/how-to-keep-cash-flowing-in-a-banking-crash/#comment-151161 Alex Bellinger Sat, 24 Jan 2009 12:36:49 +0000 http://www.smallbizpod.co.uk/blog/?p=962#comment-151161 Sam, excellent proposal. I've signed your petition and will encourage others to as well. Sam, excellent proposal. I’ve signed your petition and will encourage others to as well.

]]> By: Sam http://www.smallbizpod.co.uk/blog/2008/10/01/how-to-keep-cash-flowing-in-a-banking-crash/#comment-151156 Sam Fri, 23 Jan 2009 12:25:47 +0000 http://www.smallbizpod.co.uk/blog/?p=962#comment-151156 Cash flow is a massive issue for SMEs and one that this Government has failed to address with ineffective bank bailouts and VAT cuts. We are petitioning the Govt to increase Cash accounting eligibility to enable more SMEs to pay their VAT after they have received payment for an invoice instead of from the date the invoice is raised. We believe this could free up around £36billion in short-term liquidity this year alone. For more info see http://www.appliedlanguage.com/cash_accounting.shtml or sign the petition here http://petitions.number10.gov.uk/CashAccounting/ Cash flow is a massive issue for SMEs and one that this Government has failed to address with ineffective bank bailouts and VAT cuts.

We are petitioning the Govt to increase Cash accounting eligibility to enable more SMEs to pay their VAT after they have received payment for an invoice instead of from the date the invoice is raised.

We believe this could free up around £36billion in short-term liquidity this year alone. For more info see
http://www.appliedlanguage.com/cash_accounting.shtml

or sign the petition here http://petitions.number10.gov.uk/CashAccounting/

]]> By: James http://www.smallbizpod.co.uk/blog/2008/10/01/how-to-keep-cash-flowing-in-a-banking-crash/#comment-150779 James Mon, 13 Oct 2008 13:34:30 +0000 http://www.smallbizpod.co.uk/blog/?p=962#comment-150779 Turning the screws on small businesses (like Boots have done) is totally counter productive. If their suppliers fail they will pretty quickly find life impossible too. Chasing payments should be as high a priority as making sales and a good credit controller is worth their weight in gold. Until the bill is paid the sale isn't complete and lots of businesses have gone under with a full order book. Turning the screws on small businesses (like Boots have done) is totally counter productive. If their suppliers fail they will pretty quickly find life impossible too.

Chasing payments should be as high a priority as making sales and a good credit controller is worth their weight in gold. Until the bill is paid the sale isn’t complete and lots of businesses have gone under with a full order book.

]]> By: Gill http://www.smallbizpod.co.uk/blog/2008/10/01/how-to-keep-cash-flowing-in-a-banking-crash/#comment-150752 Gill Thu, 02 Oct 2008 10:17:28 +0000 http://www.smallbizpod.co.uk/blog/?p=962#comment-150752 Martyn as you say, if you form relationships with them and keep them on their toes, they are certainly more likely to put you at the top of that vital pay NOW list. Too many small businesses don't keep on top of their cashflow, usually because accounts scare them, and if this is so, get yourself a bookkeeper on board or take a course, money is the lifeline of your business! Martyn as you say, if you form relationships with them and keep them on their toes, they are certainly more likely to put you at the top of that vital pay NOW list.

Too many small businesses don’t keep on top of their cashflow, usually because accounts scare them, and if this is so, get yourself a bookkeeper on board or take a course, money is the lifeline of your business!

]]> By: Martyn http://www.smallbizpod.co.uk/blog/2008/10/01/how-to-keep-cash-flowing-in-a-banking-crash/#comment-150751 Martyn Thu, 02 Oct 2008 09:51:58 +0000 http://www.smallbizpod.co.uk/blog/?p=962#comment-150751 Gill, First class advice - having a procedure and sticking to it is very important. If you call regularly, the customer will soon get to know that they can't take liberties with you and will tend to pay you before the other guy - "the squeaky wheel gets the oil" syndrome. Also the call can then become a "customer service" call rather than debt chasing. I forecast my cash position (receipts and payments) daily on an 8 week rolling basis - gives me and my business partner a heads up on where things are going and any pinch points. Martyn Gill,

First class advice – having a procedure and sticking to it is very important.

If you call regularly, the customer will soon get to know that they can’t take liberties with you and will tend to pay you before the other guy – “the squeaky wheel gets the oil” syndrome. Also the call can then become a “customer service” call rather than debt chasing.

I forecast my cash position (receipts and payments) daily on an 8 week rolling basis – gives me and my business partner a heads up on where things are going and any pinch points.

Martyn

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