When you are experiencing tight cash flow in your business an overdraft or line of credit can solve many problems.
Tight cash flow could be result of many things including:
- An expanding business.
- Poor debtors control.
- Poor Stock control.
- Poor WIP control.
- Reduced sales volumes.
- Reduced sales prices.
- Increases on supplier costs.
However, before seeking a loan from a financial institution it might be worthwhile reviewing the performance of your business to see if there are any areas that you could improve to release more cash.
You may still find that a loan is necessary but by make some small changes the loan amount might become smaller.
If you would like to discuss further, please contact us:
McNamara & Company - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandco.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.au
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