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Discussion in 'Cashflow forum' started by hazmog, Jul 16, 2017.
Ok thanks for this.
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.
To be fair, you sound pretty sensible, good luck and hope you take the good advice fro some here and bin the negative ones
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.
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.
Why has this thread been dragged up again after five months as nothing useful has been added by anyone