Getting started with managing cash
Type: Business Growth
Date: Wednesday, 12 August 2020
Time: 2:00pm - 4:00pm
Available To: Eligible SME's
Member Price: FREE
Non-Member Price: FREE
Understanding the tools and techniques to help you manage healthy cash flow.
‘Turnover is vanity, profit is sanity and cash is reality’ is well known amongst business owners. While many agree that turnover (sales) figures should not be the main focus of financial control, there is often confusion between ‘profit’ and ‘cash’. In this webinar, we will explore what both terms mean and the key differences between them. We will then look closely at various ways a small business should manage its cash on a day-to-day basis. This webinar will equip you with a number of tools and habits on cash management, which you should be able to apply to your business in a very practical way.
This webinar will cover:
- Main reasons why businesses fail
- Difference between Profit & Loss and Cash and why both are important
- How to maximise cash by managing your cash collection cycle
- What is working capital and how to manage it
- Practical ways to plan for tax and build buffer cash
- A quick introduction to how to prepare a Cash Flow Forecast
- Pointers for managing payments to yourself as the owner
About the speaker:
Alice Davidchack is a Chartered Management Accountant and a Business Coach. She runs her practice from North West Leicestershire, working with business owners throughout the UK
This presentation is delivered in partnership with Business Gateway Growth Hub and Business Engine Room and is part-funded by the European Regional Development Fund. Places are limited and priority will be given to trading SMEs based in Leicester and Leicestershire.