Cash is important to any business. But, how do you get more cash in your business? There are a few ways that you can easily do this.

But, to help you out even more, here are some ways that you can inject cash into your business:

1. Send out those invoices quickly!
2.  Make it easy for your customers to pay you - add online payment options, add bank details to the invoice, add paypal?  The harder it is for someone to pay, the longer it takes for them to pay.
3. Call in debtors - those invoices you have sent out but haven't been paid yet.  Make phone calls, send statements.  Ask for your money on the due date - don't ask for it days or weeks later.
4. Sell assets you are no longer using.  Get a bit of quick cash in the bank by selling those things stuck in the corner.
5. Put in some of your own money.  Be sure to ensure that this is recorded as money you have loaned into the business, so that it can be paid back over time.
6. Borrow money - there's lots of avenues to borrow money, from family and friends, to lower tier lenders (beware of some of the terms and conditions) to the big Banks.  There are differing levels of paperwork required and some financiers will have requirements to secure the amount borrowed against an asset, so that if you don't pay them back, you will lose that asset.
7. Stop paying bills or repayments.  While this is very risky (and generally not advised on a long term basis) it can help on a very short term basis.  Note that this is a warning flag - the more you delay your suppliers, the more likely you are having issues in regards to cashflow - and some drastic measures need to be taken.  When it will be useful is when your tax bills are due on the 21st of the month and your major customer pays you on the 25th.
8. Cut back on expenses.  Review every single thing your business spends and see if it is making you money.  If not, find a way to cut it out or re-negotiate the price down.  Some examples include:
    - storage or archive documents
    - software you are no longer using
    - business card printing every time a new staff member starts
    - entertainment and rewards
    - donations
    - memberships you don't see benefit from

There are lots of ways you can increase the cash in your business.  If you are struggling to make ends meet, please book a confidential call now: Book here