When Business is Struggling

The 9 Big things to do to help your Business when Struggling

  1. Cash Flow

    • Plan your cash flow closely.
    • Ask for further credit from your suppliers.
    • Ask for the credit periods to be increased from your suppliers.
    • Consider factoring your debtors.
    • Consider leasing your machinery, rather than buying (use lease and buy-back).

  2. Purchases

    • Look at buying only what you need.
    • Talk with other businesses in your industry and see if you can bulk buy together to save costs.
  1. Stock
    Look at reducing stock levels so that what you have are just in time (JIT) supplies. Just in time basically means you will not order goods until the customer has ordered and your supplier will make to order and deliver to you within 48 hours. If necessary, ask some of your suppliers to buy back some of your stock at cost price so you can turn that stock into cash, even if there is a discount given to that supplier.

  2. Products and Services
    Look at...

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