Are you experiencing a cash crunch?
You are not alone. Despite the best-laid plans, many small and medium businesses in the growth phase often experience a cash crunch at this time of the year.
At Macro we have three simple, but important, steps to help you manage through the shortfall.
- Work out the root cause of the problem.
Are cash collections slow?
Did you have unplanned or extra expenses?
Do you have too much inventory?
Has a tenant not paid their rent?
Perhaps an unexpected tax bill?
- Work out your options.
This involves calculating how much cash you need to solve the crunch and how you are going to get it. Delaying payments, negotiating with the bank, looking at alternative funding sources or selling an asset are all viable options.
- Act decisively.
Sometimes it can take time to execute the solutions, so don’t delay and get back on track.
We like to be continually looking forward, to plan for our clients’ cash requirements. How much cash a business needs in any one year, or even further into the future, can be calculated in advance.
Please call us on 07 3844 5555 to discuss with a Macro team member today.