Small Business Advice Week: Intuit talks tips!

As part of Intuit’s sponsorship of Small Business Advice Week, our managing director Pernille Bruun-Jensen, took to the airwaves to discuss the current environment for UK small business owners and offers some top tips on how to succeed.

She chatted with more than fifteen stations around the UK, sharing insights that every small business can use to be more successful.

Couldn’t get to the radio in time? Click on the podcast below to hear Pernille’s interview with London’s Colourful Radio (DAB Digital Radio).

In the segment, Pernille offers these tips:

1. Know where your money is going: Small business owners need to be aware of how much they are spending and for what, along with tracking VAT and making accurate returns. It is important to keep on top of bookkeeping right from the start otherwise there is a risk of forgetting crucial costs or, even worse, failing to invoice a customer.

2. Build and manage relationships to get the best terms: Relationships with banks, suppliers and customers should be checked regularly to be fully aware of all payment dates and their terms. Investigate if there is anything that could be modified to help maintain a healthy cash flow, such as moving key dates and adjusting payment terms.

3. Be sure to get paid: Ensuring customers pay on time or asking them to do it sooner, can improve everyday cash flow as can asking for extended credit terms with suppliers.

4. Forecast cash flow: Cash flow forecasting also helps to plan borrowing, with many banks requiring forecasts before considering a loan.

To see more tips on Cash Flow, Credit Management, Business Strategy, Human Resources and case studies for helping your business succeed, please have a look at our guide.

Comments

[Andy Thorpe]

Interesting interview. I found the downloadable guide informative. Well done!

[twitter.com/lottiel1]

Lots of good advice on matters which some small business owners take for granted.

Norris
http://smallbizpal.blogpico.com