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Funding a business
How Can A Company Improve Its Financial Structure?
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[QUOTE="Mellorando, post: 206007, member: 37973"] An important part of your business plan should be to improve the financial position of your business. 1. Get advice from a professional If you haven't already, talk to an accountant or business adviser about your finances. They may be able to help you find other ways to improve your cash flow. Or they may suggest options for getting funding internally. 2. Recover outstanding debt Chase up as many outstanding payments as you can. If you don't have the time, consider using a reputable debt collection agency. Always have a condition of sale agreement before you make a sale. This gives the buyer your terms and conditions, including: how long they have to pay the debt, any percentages you’ll apply to overdue payments. 3. Reduce or rearrange expenses Work out which of your expenses you could reduce or rearrange. You might be able to: arrange a deferred or periodic payment plan for larger expenses switch insurance companies, banks or suppliers to get a better deal change how much stock you buy and buy when you have higher cash flow switch to cheaper options for consumables like energy. 4. Sell assets Selling unwanted assets can be a good way to get some cash and reduce your storage costs. Consider leasing your main assets. This helps to spread the cost over a longer period. Consider registering a security interest - external site on the Personal Property Securities Register (PPSR) if you’re: selling on terms, such as retention of title leasing out valuable goods. Registering a security interest can help you recover the debt if a buyer doesn’t pay or becomes insolvent. 5. Offer markdowns or increase prices Apply markdowns to full-price products or services to: attract sales move surplus stock or discontinued products.Increasing your prices is an option if your business faces rising costs. Whether you offer markdowns or increase prices, make sure you comply with pricing legislation. [/QUOTE]
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How Can A Company Improve Its Financial Structure?
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