"We have a cashflow problem, we may not be able to pay our VAT next quarter and we cannot pay our PAYE debts. I think the company is viable but how do we survive this cashflow problem"?
You need to act properly and quickly firstly!
How to fix cashflow problems is easy when you know how.
How to measure your daily cash in and out? Well click here and download a free excel cashflow that helps your planning. You should make sure that you up date this every day. For example if you are a retail outlet add the daily takings from your day before into the sales row at the top. Then look at what payments need to go out. Make sure that you do not offer to pay money that isn't going to be available
Simple but true, you need to monitor cash EVERY DAY. With our easy to use spreadsheet you can see every day exactly where money comes in and where it is going out to.
With 7 trained experts KSA can help you with cashflow, just call for help if you need it, when you have downloaded your free daily cashflow tool. 0800 9700539 (free on landlines)
How do I tell creditors that we cannot pay them today or next week? Now YOU are armed with your daily cashflow tool, you can see more clearly what can be afforded. Call and always WRITE a letter to those suppliers that you owe money too. Then stick to the offer you make to pay them back over time. Keep a copy of the letter and replies. That way you have registered your contact on their systems. Never ever over promise and ALWAYS keep creditors informed if things change.
This is especially important for HMRC communications.
How to cut business costs? Click here to read tips from our expert in turnarounds - 20 top tips for cost cutting explained - free expert advice that is valuable for your company.
What if we cannot pay VAT or PAYE? Read here how to do time to pay deals with tax collectors. Based on 20 years of dealing with HMRC we have a Time to Pay Tax programme, all YOU need to write a deal with HMRC, letter templates - written for you to complete, timetables, tactics and tips. Buy here only £4.99
How to save the business if cash running out faster than planned? If the business is viable then consider the use of CVA or company voluntary arrangements. For the world's only free book on how CVAs work click here
Don't struggle on on your own call for expert help. We will reduce stress with one phone call!