If your business is closing down over the Xmas and New Year break, chances are your cash flow is going to take a hit. Rather than sinking into a negative cash flow, why not consider a short-term business loan to keep you in the green?
The end of the year is often a busy time for business owners. Managing the last-minute rush before closing for a well-earned break. With the festive season on the horizon, managing your cash flow is probably one of the last things on your mind. But it’s often this quiet period when many businesses close for a couple of weeks that cash flow can be affected the most. With bills to pay but limited income being generated, it’s common for businesses to experience negative cash flow.
Here’s a few tips to keep your business in the green over the festive season.
Get invoices out promptly
Ensure you issue all your invoices before closing up for Christmas. Not only do you want to avoid coming back to a mountain of paperwork, but you want to get paid as soon as possible to keep your cash flow positive. Most cloud-based accounting software
allows you to automate this, which take away the headache of manual invoicing.
Move old stock
If you have old stock that’s been sitting around for a while, put it on promotion as a Christmas special to help give it a push. This is a great way to boost your cash flow whilst clearing storage space.
Speak to your accountant and bookkeeper
should be using cloud-based systems such as Xero
. Both of these have comprehensive reporting that can give you a cash flow forecast and identify if you’re likely to dip into the negative if your revenue is reduced over the Christmas period. Speak to them and ask for advice; they’re the experts in cash flow management and should be able to help you turn things around.
Apply for a short-term business loan
It’s common for businesses to experience a shortfall in funds at this time of year. Don’t panic; there is a solution that many Australian businesses have benefited from. Short-term business loans
can prop-up your cash flow for short periods where your income doesn’t cover your expenses. Propsa offer a painless application process for short-term loans of up to $250,000. Same-day approval with funding possible in just 24 hours. Chat to our guys at Carbon Finance
to apply today
Back To Media and Resources