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Spot the warning signs: Don’t leave it too late

Because managing cash flow can be an almost daily headache, it’s easy to miss the warning signs of impending insolvency.

You’re so used to juggling competing demands for payments and chasing customers who are reluctant to pay, that you completely overlook the growing scale of the problem.

That’s why it’s important to regularly step back and assess the situation. Before you’re faced with a situation which threatens your entire business.

You know you’ve left it too late when…

– Cash flow worries keep you awake at night.

– You don’t answer the phone when creditors call.

– A key supplier refuses to give you more credit.

– Your staff are asking difficult questions about cash flow.

– You receive a CCJ.

– The situation feels out of control.

The consequences of not acting sooner

The business you have spent years building could be swept away, almost overnight, by a major cash flow crisis.

The moment you are unable to pay your staff, they’ll walk out of the door. Get behind on your rent and you could soon have nowhere to run a business from.

Once other creditors get wind of your problem, they’ll put a stop on supplies and could join in action to recover funds.

If one of your creditors decides to submit a winding-up petition to court, you are forbidden to sell or transfer any assets from the business and within days of its issue, your bank will freeze your accounts.

While your business may survive all of this, it is likely to be badly damaged. Acting sooner to prevent matters getting this far is a much more effective, and less stressful, solution.

Take early steps to rebuild cash flow confidence

It’s never too early to take the measures needed to secure your cash flow.

The solution to cash flow problems is to discover new ways of raising working capital. This can range from improving your credit control to bring cash in more quickly, to exchanging part of your business for a major capital injection by an angel investor.

Other options include loans, either from people you know or external individuals or organisations, invoice finance, asset based finance or sale and leaseback of assets.

Each option has different merits and disadvantages.

Let Business Recovery help you to act now

The Business Recovery specialists have helped hundreds of firms to find alternative methods of commercial finance, allowing businesses to grow and succeed.

If your firm is facing potential cash flow problems and you’re not sure where to turn, give us a call now.

It won’t cost you a penny to speak with our experts, as our fees are paid by the funders we work with.

By talking with our experts, you’ll discover finance options you had perhaps not previously considered, and solutions which you did not realise were available. To find out how we could help, get in touch today.