We thought you'd find this Webinar extract from our recent Wellington NZ Business Continuity planning webinars.
Join Hamish Mexted and Local Porirua Business owners;
We'll discuss the effects Covid-19 and Lock-Down had on our businesses, our responses, plans of attack and what the whole process has taught us coming back into Level One.
Lock up is the cash tied up in unfinished work or stock sitting on a shelf. Lock up is something that isn't calculated for most businesses. For many, it's the easiest way to unlock immediate cash in your business. There is a direct connection between you reducing your lockup and then having a choice as to what you do with your money. Listen to our podcast for our best tips on unlocking your cash.
In today's podcast we're covering a topic many find awkward. Debtors and asking people for your money. The thing with debtors is that it's an area which is full of conflict and most of us, including us, hate conflict. So because of that we don't chase our debtors and it becomes this big problem that's lurking in the corner of our business that we never really want to fully address.
In our podcast we will give yo...
In this episode we go through a real life example of how spinning cash can solve any businesses problem with working capital. It's not so much increasing your turnover that solves the working capital problem, instead it's about making sure your working capital cycle works properly for your business. If you can make you money cycle spin faster, hopefully money will move more into your bank than out.
Everyday business owners are asking us where their cash has gone. More often than not, they ask about their debtors and how to get them to pay more promptly. But cash flow and getting your hands on your cash is more complicated than just debtors. On this episode we explain the cash flow cycle.
Often, as chartered accountants we see businesses going through exactly the same journey, time and time again. So a business will start out as a really good idea before the owner of the business works out that business can be complicated. We’ve put this podcast series together to help share what has worked for others so you can replicate this in your business. Listen to our podcast to find out what we will cover in our series.