Whilst the start of summer marks a period of relaxation and vacation for many people, it is often one of the most difficult time periods for small businesses. Many of their customers are away enjoying the sunshine rather than making purchasing decisions - something which can have a significant impact on many a business' cash flow and revenue.
If you know that your business is one of these businesses, why not plan ahead now!
How Can You Avoid Summer Cash Flow Woes?
1. Plan Ahead
If you already know that you're likely to experience a dip in sales and cash flow, add these to your cash and sales forecasts now! By doing this, you should be able to forecast how much revenue you can expect and what your associated costs will be. If you identify a shortfall, make a plan to avoid the shortfall or a plan to cover any shortfall.2. Promote your Business
Depending on your business and margins, you could seek to offer some incentives to new and existing customers. It may be worthwhile spending slightly more on marketing and promotion leading up to the expected quite period. Encourage customers to buy when they wouldn't usually and offer them a reward or discount for doing so.3. Review your Finance Arrangements
If you know that you might experience a cash shortfall, look into alternative and flexible forms of finance, or speak to your finance providers ahead of experiencing any short term difficulties so that you can benefit from extended terms and avoid any unnecessary penalties and fees.How can we help?
- We can provide you with quick and affordable business finance.
- We specialise in quick finance for a range of different size businesses and their varying needs.
- We provide loans for 6-60 months with no early repayment penalty.
- Raise anything from £25,000 upwards to see your business through the summer period.
Find out more now
Simply submit a quick loan application or call us on 0113 8150 244 to speak to one of our helpful team members about your business finance needs.
