How to Improve Cash Flow in Your Business

Poor cash flow is one of the biggest challenges businesses face. Even profitable businesses can struggle if cash isn't flowing correctly. Here are practical steps to keep your business financially healthy:

1. Streamline Your Invoicing Process

Send invoices immediately and implement automated reminders to reduce late payments.

2. Offer Multiple Payment Options

Make it easy for customers to pay by accepting bank transfers, credit cards, and digital payments.

3. Manage Expenses Wisely

Review subscriptions, negotiate supplier rates, and cut unnecessary costs.

4. Set Clear Payment Terms

Ensure invoices include clear due dates and penalties for late payments.

5. Plan for Tax and Super Obligations

Set aside a percentage of your revenue each month for BAS, PAYG, and super contributions to avoid last-minute cash flow shortages.

How Thrive Can Help:

• We provide cash flow forecasting and budgeting.

• We manage your accounts receivable to improve collections.

• We create financial reports to help you make informed decisions.

Struggling with cash flow? Let’s chat.