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Credit for working capital?

Discussion in 'Cashflow forum' started by hazmog, Jul 16, 2017.

  1. hazmog

    hazmog UKBF Contributor Free Member

    45 2
    Ok thanks for this.
     
    Posted: Jul 17, 2017 By: hazmog Member since: Jul 4, 2017
    #21
  2. r. kumler

    r. kumler UKBF Newcomer Free Member

    9 1
    No offense but it seems perhaps you may need a new accountant who is suitable to advise you navigating through these growth issues. Clients and suppliers can be an excellent source of improving cash flow if approached correctly and openly. Reading these posts seems overdraft and credit cards together could be a short term solution, but having someone conversant with managing working capital who can advise you I would think is the first step- and a back up arrangement with a factoring company.
     
    Posted: Dec 20, 2017 By: r. kumler Member since: Dec 20, 2017
    #22
  3. lesliedocherty

    lesliedocherty UKBF Ace Free Member

    2,091 283
    To be fair, you sound pretty sensible, good luck and hope you take the good advice fro some here and bin the negative ones
     
    Posted: Dec 21, 2017 By: lesliedocherty Member since: Jun 17, 2006
    #23
  4. Gecko001

    Gecko001 UKBF Enthusiast Free Member

    2,370 373
    I know that it depends on what sector you are in and what is standard payment there, but can you send out interim accounts either monthly or at certain stages of a project. Maybe you are doing this already for some of the bigger projects. If you are then maybe you should try to do it for some of the smaller projects as well.
     
    Posted: Dec 21, 2017 By: Gecko001 Member since: Apr 21, 2011
    #24
  5. r. kumler

    r. kumler UKBF Newcomer Free Member

    9 1
    I concur, forget some of the negative comments and remember that there is nothing wrong with knowing there are areas where one needs to delegate or seek assistance- the idea that it is "poor management" that growing pains arise is a bit short-sighted especially in a new fast-growing business. After many years of working, investing or consulting with start-ups, I notice the ability to know and establish when to delegate is a consistent issue across industries.
     
    Posted: Dec 21, 2017 By: r. kumler Member since: Dec 20, 2017
    #25
  6. lesliedocherty

    lesliedocherty UKBF Ace Free Member

    2,091 283
    Absolutely,
     
    Posted: Dec 21, 2017 By: lesliedocherty Member since: Jun 17, 2006
    #26
  7. Ian J

    Ian J Factoring Specialist Full Member - Verified Business

    4,526 1,268
    Why has this thread been dragged up again after five months as nothing useful has been added by anyone
     
    Posted: Dec 21, 2017 By: Ian J Member since: Nov 6, 2004
    #27