Tips regarding business cashflow in TOUGH TIMES
- Mar 26, 2025
- 2 min read
Managing cash flow during tough times is crucial for business survival. Here are some tips to help you stay on track:
Reassess Your Budget - Review and adjust your expenses to prioritise essential costs.
Negotiate with Suppliers - Seek extended payment terms or discounts for bulk purchases.
Focus on Collections - Follow up promptly on outstanding invoices to improve cash inflow.
Offer Incentives - Provide discounts for early payments to encourage customers to pay sooner.
Cut Unnecessary Costs - Identify non-essential expenses and reduce or eliminate them.
Diversify Revenue Streams - Explore new income sources to reduce dependence on a single stream.
KEEP A CLOSE EYE ON WHO OWES YOU
In tough times, stay on top of your debts.
Keep a close watch on your debtors ledger. Prevention is better than cure. Don't offer credit unless it's abolutely necessary. If you do make sure you check out new customers throroughly.
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Tax calendar
KEY DATES
7 April 2025
Terminal tax for 2024 (March, April, May balance dates). For all clients except those who have lost their extension of time privilege
7 May 2025
Third instalment of 2025 Provisional Tax (March balance date).
28 May 2025
First instalment 2026 Provisional Tax (December balance date).
31 May 2025
Deadline for Fringe Benefits Tax returns.
EXTRA IN THIS ISSUE - Page 5 and 6 - Deal with important stuff now before balance date.
The strategies outlined for managing cash flow during challenging times reflect a pragmatic approach to business survival. It is vital to reassess your budget and focus on collections to ensure liquidity. Moreover, diversifying revenue streams can provide a buffer against unexpected downturns. Adopting such measures allows businesses spinyoo to remain resilient and adapt to the landscape of economic uncertainty.