How can you manage your cash flow with the recent challenges faced by small businesses?
Using our Cash Flow Coaching Kit, Northern Beaches Bookkeeping Solutions, your trusted adviser can work with you to answer this question.
The kit includes change lever tools designed to help you identify how to keep your business cash flow healthy.
Specific levers focus on increasing cash into your business and reducing cash out.
Your adviser can show you which levers work best for your business situation.
For example, if you need to change prices, the pricing change lever will help identify:
- the margin you need to generate from sales to cover your expenses
- whether you can implement small regular price increases
- your most profitable customers, products or services.
The Cash Flow Coaching Kit offers solutions to help manage a range of small business pressures. Richard Dudley of the Motor Trades Association of Australia says:
‘If you’re experiencing less income coming in the door and you’re struggling to absorb cost increases, consider how the pricing lever can be used to make changes to your pricing strategy and manage your cash flow’.
There are things you can do to help your business perform better in challenging times. Talk to your adviser about the Cash Flow Coaching Kit today.
This information is supplied by the ATO Small Business Newsroom