Top Ten Reasons why your SME may be struggling with cash flow

Directors of SME’s all over the UK have recently been questioned for a survey to highlight the cause of the largest cash flow problems within their company.

Below is a list of the top ten:

·         Late customer payments

·         Overdrafts being frozen by banks

·         Unexpected tax bills

·         Requirement for new IT equipment and/ or machinery

·         Delayed insurance pay-outs

·         Slow decisions by banks for funding

·         Slow invoicing

·         Suppliers and/ or staff contracted bonuses

·         Redundancy costs

·         Legal bills

Many companies are unable to distinguish and address the threats before they turn into problems. Due to the state of the current economy, it is harder for businesses to come back from difficult financial times and more and more companies are struggling. Due to a lack of funds, many directors are focussing on just surviving, rather than looking at ways to grow the business.  If your company is struggling financially, contact Beer & Young to discuss the options available to you. Help may just be at hand!