Good Resources for Cash Flow Advice

The Internet is a big resource, and you can find all sorts of sites giving advice about how to manage your cash flow through a simple search. To save you time, however, here are just a few of the more useful sites, particularly geared towards small businesses and those struggling to understand those cash flow basics.

Whenever you are considering financial matters, it is generally best to start with the professionals. For that reason, every business should check out the guide on cashflow issues produced by the Chartered Institute of Management Accountants, which can be found at: cid_improving_cashflow_using_credit_mgm.pdf

Having struggled to read through that, you may be in the mood for something a little shorter. Equally as authoritative, but presented in bite size web pages which are slightly easier to digest, the UK government provides a ‘one stop shop’ of advice for all aspects of business resourcing at businesslink.gov.uk

For similar advice directed specifically at small businesses, you could also check out MyBusiness.co.uk, which includes an entire section on managing your cashflow more effectively: mybusiness.co.uk/Maximising_Cashflow

Of course, the information you really want to hear is only possessed by those at the sharp end of business. You need to get the lowdown from existing entrepreneurs and business people, which is where the online blog posts at RealBusiness come in. Covering a whole range of issues relevant to those running SMEs, they focus specifically on managing your cashflow in a range of articles, including this little gem: realbusiness.co.uk/practical_steps_for_managing_cash_flow

If you absorb information more effectively through a question and answer format, then the slightly strangely named but information packed website StartUpDonut.co.uk might be for you. One example of their engaging and useful style of presenting information can be found here, as they address effective cashflow management: startupdonut.co.uk/q-a-effective-cashflow-management

Remember that you shouldn’t turn your nose up at a source just because it is from the United States or another non UK country. Sure, some of the rules and regulations will be different, but the basics of business are the same all across the world. One good example of an overseas gem is this paper on cashflow forecasting, which takes beginners through the basics of how to manage their resources: voipsupply.com//Sageworks_Cash-Flow-Whitepaper.pdf

It might be a cliche, but managing cashflow effectively for your business often grows out of sound personal financial practices. Before you start trying to grow your business from scratch, why not learn the techniques you need by examining your own finances and making sure they are in good shape? If you want to learn how to do that, there are few better places to go than About.com’s financial planning section: financialplan.about.com

Once you’ve read all the links above, you’re bound to be convinced of the importance of effective cashflow management. There are all sorts of pieces of software out there to help you towards your goal (see cashflowmanager.co.uk for one example), but be sure not to overcomplicate things. Ultimately, all you need is a pen, paper, and some common sense!

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