The ICM has produced a series of ten Managing Cashflow Guides in association with the UK Government’s Department for Business, Innovation and Skills (BIS). Over 500,000 of these guides have been downloaded.
You can download them here and also view the Minister’s Monthly Cashflow Tip and hear some great advice from Lord Sugar.
Minister’s monthly cashflow tip:
‘If your customer isn’t responding to requests to pay, consider using a third party collector sooner rather than later. Doing nothing is the worst option and using experts makes a successful outcome more likely.’
However big your business, cashflow is critical to survival and success. Whereas larger companies may have sophisticated in-house credit management teams to help them, smaller companies are often so focused on the day-to-day challenges of running their business that cashflow management can sometimes be overlooked.
Matthew Hancock MP, Minister of State for Business and Enterprise.
Business Basics – with Lord Sugar
The first series of Managing Cashflow guides, launched by the Government and the Institute of Credit Management (ICM) in November 2008, were the subject of over 120,000 downloads, by businesses across every sector, each of them with a need to get paid during the tough economic climate we all faced.
The Managing Cashflow series is produced by the Institute of Credit Management in association with BIS and with the support of:
Managing Cash when it’s time to invest produced by the ICM in Association with the FLA (Finance and Leasing Association) and the NACFB (National Association of Commercial Finance Brokers).
Paying on time is good for business download the leaflet for further details Getting paid on time