Cash flow or lack of, is the bane of an entrepreneur’s life, business finance platform Growth Street has recently launched its FREE ‘How to Improve Cash Flow’ tool as a means of tackling this on-going issue.
Designed exclusively for small business owners, the tool aims to understand the ‘pain points’ for UK SMEs when cash flow becomes a concern, and provides insights developed by Growth Street’s Chief Financial Officer, Ciaran O’ Donnell, on how to tackle these cash flow challenges.
Jack Ross, 37 is aware of navigating the all too familiar ‘pain points’ many small business owners encounter:
“Until four months ago I was the founder of a small graphic design business. I had to dissolve the business due to the constant late payments from clients; practically running my business on empty got way too much.”
According to the C2FO Working Capital Outlook Survey,* at a time when SMEs are looking to streamline their finances, 55% of businesses surveyed say that cash flow problems are their biggest obstacle to business growth.
Growth Street’s Founder and CEO, Greg Carter, envisions the tools’ launch as a means of assisting business growth.
By answering a few simple questions ranging from business seasonality to main monthly costs, the free tool quickly assesses the company’s behaviour. Within minutes, an email is sent with analysis identifying specific areas for improvement.
Commenting on the purpose of How to Improve Cash Flow, Greg said:
“We want to offer much-needed support to small businesses at times when they require it the most. The How to Improve Cash Flow tool aims to allow business owners to identify quick wins in their cash flow management and better position them to seize growth opportunities.”