No matter how many times you revisit, you will always find new ways to improve your cash flow.

Before you digest the following cash flow suggestions, have a quick reminder of the first 10 cash flow recommendations.

OK, so here are the next 10 ways to improve your cash flow:

11. Trim inventory – Speak to your suppliers and ensure that you have the best ‘just-in-time’ service in place. Recheck inventory control systems to ensure you are holding the absolute bare minimum inventory. Reinforce with regular manual checks.

12. Trim stock holdings – Similar to inventory, recheck current sales levels against stock holding. Consider sidelining slow moving lines.

13. Renegotiate payment terms with suppliers – Unless you are negotiator of the year, there is always a little bit of slack to be reigned in with your suppliers, particularly if you have kept good personal relations with them.

14. Only pay bills when they are due – Often small businesses pay bills on a weekly or monthly basis to suit administration. However, even a saving of a few days can improve your cash flow significantly. So make sure payments are made at the final hour. Avoid the temptation of paying late though.

15. If you pay sales bonuses, only pay out when cash is in – Don’t forget a sale is only a sale when the money’s in the bank. So only pay commission at that point.

16. Pay by credit card – Depending on how desperate the need to improve your cash flow, you can absorb another few thousand pounds through use of credit cards.

17. Consider barter – Sounds a bit neanderthal but modern day barter – exchanging goods for goods and cutting out cash altogether -  is surprisingly mainstream and easy to setup with the aid of barter exchanges such as Bartercard.

18. Sell assets – The commercial equivalent of a garage sale. Consider selling vehicles, underutilised plant and equipment, property.

19. Letting out part of business premises – Not an option for many businesses due to limited space or restrictions on lease. However worth considering.

20. Leasing equipment rather than buying – Look to run a lease for approximately the lifetime of the equipment. Good option particularly with low interest rates.

You can improve your cash flow in many ways, some seemingly insignificant.  However the cumulative effect of these savings can make the difference so don’t rush to discard any options.

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Similar Posts:

• 10 Ways To Improve Your Cash Flow
• Even More Ways To Improve Cash Flow For Small Business