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Baker Tilly
United Kingdom
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Manage your cash

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Here we give you ways to save your business money, an even more pressing need in the current economic climate

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Direction: forward thinking for businesses. Analyse and consider the course of action your business can take to both survive and thrive in these challenging times.

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    Unsure where to turn as times get tough?

A healthy cash flow is always important, but in difficult times it is crucial. If you bill your clients quickly and collect money owed, whilst keeping your cost base low, your cash flow position should improve. 

  • Keep your balance sheet lean

    Prompt conversion of work done into cash is important in any environment, but none so more than now. Question your commercial arrangements with customers. Do invoices go out quickly enough? Can you get paid in advance? Are your suppliers doing their bit? Are debtors converted quickly enough into cash?  

    We can help you examine your internal accounting systems and procedures to tighten up the working capital cycle.

  • Using VAT to improve cash flow

    It is good practice to ensure that as much cash as possible is retained within your business. By reviewing your VAT position and timing your VAT payments effectively you can maximise recovery and improve your cash flow. 

    Our VAT specialists can provide you with advice on the best routes for your business to take.

    Read our articles on:
    Tax tips to help keep the credit crunch at bay
    Yet another VAT refund opportunity
    UK able to reduce VAT rates even further

  • Working Capital is an asset - use it!

    Asset Based Lending has come into its own, especially in this market. Lending against assets is less risky for a bank and therefore requires less capital to be held against it. In capital constrained times, therefore, borrowing against the strength of your stock, WIP and debtors can help you raise money that cannot otherwise be raised.

    We can introduce you to asset based lenders to help you realise cash from your working capital assets.

  • Collect cash quickly

    Collecting cash that is owed to you is a key way of helping to ensure a healthy cash flow position. 

    We can help you review your cash collection procedures and advise you how to reduce your debtor days.

  • Release non core assets

    To maximise your cash position you need to ensure that your assets are working hard for you. Do you have surplus property? Can you release cash through a sale and leaseback arrangement? Can you turn surplus space from a cost centre to a revenue generating asset? These and others are avenues worth investigating.