Farming has always been a demanding profession, but in recent years, the agricultural industry has become even more challenging and complex. Farmers across the UK have had to cope with extreme weather conditions, thin operating margins due to inflation, and labour shortages. While the current agricultural landscape may be difficult,…
In recent years, the UK economy has been marked by relentless waves of change and uncertainty, and businesses have had to navigate numerous challenges. During times like these, it’s always wise to take a strategic approach to managing resources, and a tactic that could add a valuable level of security…
The coronavirus crisis has impacted British business more than we could have ever imagined. While the UK government’s support measures – especially the furlough scheme and deferral of VAT payments – have gone some way to preserving firms, the real test lies ahead as the support comes to an end…
In business, cash is king. Your business might be doing well and, in the next six to twelve months, you might be expecting to bring in increased revenue and profit. However, if there isn’t enough cash flow to cover company expenses, those potential earnings may not be felt.
With 80% of SMEs failing due to poor cash flow management, ensuring your business has more money coming in that going out should be highest on your list of priorities.
One of the most important aspects of financial business management is the practice of cash flow forecasting. Whilst it may sound like another headache of calculations, the exercise is in fact a simple process that can prove extremely important in the long-run.
