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Running a small business inevitably means becoming a jack of all trades, most notably of which is ‘doing the books’. This in turn requires getting to grips with tricky accounting packages, an understanding of spreadsheets and becoming conversant with accounting jargon. The result is waving goodbye to your evenings, weekends and regular sleep.
Cashflow problems often arise due to lack of understanding of how cash moves through a business and the difference between profit and cash flow. Here are some great tips to help ensure that your cash is flowing in the right direction.