Get planning for effective cashflow management.
As the old business adage goes, ‘turnover is vanity, profit is sanity, cashflow is reality’.
Whilst Profits are an essential element to build a sustainable business, and is really the only source of long term cash generation, in the short to medium term cashflow management is critical.
Profit is, after all, the difference between outgoings and income, and income only exists when clients actually pay, not when they’re invoiced. Continue reading “Cashflow”