Often times, people start a small business with full excitement, but they miss to set up an invoicing process to help them get paid on time, which later leads to cash flow problems. Tim Charlton, managing director of Charlton Media Group, discusses the outlook for inflation, interest rates, and other factors that may increase insolvency pressures for SMEs, and how getting cash flow management processes in good shape can go a long way towards mitigating those pressures. Check out his full conversation with RIABU's Simon Littlewood.
Get more tips on effective cash flow management from our book, Let The Cash Flow. To find out more about how RIABU helps small businesses get paid on time, visit RIABU.com
As the Covid-19 pandemic unfolded, governments and central banks all over the world acted swiftly, using massive amounts of monetary and policy support to prevent insolvencies. As a result, bankruptcies declined dramatically in 2020 as compared to 2019.
This was a repeat of the playbook used during the Global Finance Crisis in 2009. However, this time around, the temporary suppression of i
Anyone running a small business will understand how late payments from customers can not only be a problem in the short term, but could also lead to closure of your business. That’s because late payments are not just delayed cash flow but involve numerous other visible and hidden costs. As delayed payments affect businesses, it impacts the economy too. For instance, the annual cost of late pay
To ensure all departments in a company are aligned in their cash collection approach, leadership from the top is critical, says Yati Omar, director of finance at a manufacturing corporation. Without such leadership, solutions such as outsourcing cash collection will not make up for the lack of a cohesive company culture regarding receivables. Check out this advice and more in her conversation with
As Singapore reopened its economy, small businesses were optimistic at the beginning of the year while witnessing fewer bankruptcies. But many factors have changed since then. Prioritizing cash flows is the need of the hour. A survey conducted by DBS Bank after the budget highlighted that about 85% of SMEs would focus on ensuring consistent cash flow and conservatively manage their operational