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5 Tips for Managing Cashflow as a Non-Financial Owner or Manager

managing cashflow

If you’re not exactly a money genius but want to keep the cash flowing smoothly in your business, we’ve got your back. Managing cashflow is like tuning into the heartbeat of your business – it’s all about money coming in and going out. You’ve got to keep it in check to make sure your business stays cool and successful. So, here are five super simple tips to help you become a pro at handling your business’s cashflow:

5 Tips Managing Cashflow

Understand your cashflow

Create a cashflow statement to track the inflow and outflow of cash in your business. This will help you see where your money is coming from and where it’s going, and identify any potential issues or opportunities.

Improve cash inflow

There are several ways to increase the amount of cash coming into your business. You can focus on increasing sales, either by finding new customers or upselling to existing ones. You can also consider finding new sources of funding, such as investments or loans.

Reduce cash outflow

To keep more cash in your business, look for ways to reduce the amount of money going out. This can include negotiating better terms with suppliers, streamlining operations, or cutting unnecessary expenses.

Maintain a positive cash balance

It’s important to have a cushion of cash on hand to cover unexpected expenses or downturns in business. Plan ahead and try to keep at least a few months’ worth of operating expenses in reserve.

Consider financing options

If you struggle managing cashflow of your business, there are financing options available to help. These include loans, equity financing, and invoice financing. Carefully weigh the pros and cons of each option and choose the one that makes the most sense for your business.

By following these tips, you can effectively manage the cashflow of your business and set it up for success! Don’t let a lack of financial expertise hold you back – with a little knowledge and effort, you can keep your cashflow on track.


Q: Who is responsible for managing cash flow?

A: The responsibility for managing cash flow typically falls on various individuals within a business, often involving collaboration between financial managers, accountants, and sometimes even the business owner. In larger organisations, there may be dedicated finance teams or CFOs overseeing cash flow management.

Q: How do managers manage cash flows?

A: Managers manage cash flows by implementing various strategies and practices. This includes monitoring incoming and outgoing cash, creating realistic budgets, negotiating favorable payment terms with suppliers, encouraging timely customer payments, and maintaining a financial cushion for unforeseen expenses. Utilising financial tools, such as cash flow statements, helps managers make informed decisions.

Q: How useful is cash flow management to the owners of a business?

A: Cash flow management is immensely valuable to business owners. It provides a real-time snapshot of a company’s financial health, allowing owners to anticipate potential challenges and seize opportunities. Effectively managing cash flow ensures a business can meet its financial obligations, invest in growth, and navigate economic uncertainties, ultimately contributing to long-term sustainability and success.

Q: Why is it important for small business owners to manage their cash flow?

A: Managing cash flow is crucial for small business owners as it directly impacts their ability to cover operational expenses, pay employees, and invest in growth. Small businesses often have limited financial reserves, making effective cash flow management vital for survival. It helps prevent cash shortages, allows for strategic decision-making, and establishes a foundation for financial stability and future expansion.

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