In business, cash flow is just as important as profit. If your business is a car, then cash is the fuel in your engine; when it runs out, you’ll stop moving. A study by the U.S. Bank found that 82% of failed businesses cited cash flow problems as one of the main reasons behind their collapse. Therefore, it’s essential that you prepare for cash flow problems and understand how to survive a slump. 

We’ve compiled a list of the seven biggest money mistakes that startup owners make to prepare you for the journey and keep you on track for financial success.

We’ve compiled a list of seven easy ways to create an emergency fund for your small business so that you’re prepared for bumps in the road.

Let’s take a look at the differences between business and personal credit cards so that you can make the right decision for your small business.

Accounting software can free up a significant chunk of your time and help you keep more accurate financial records, both of which represent big wins for your business. If you haven’t switched over to the cloud yet, here’s why it pays to move with the times.

Productivity is essential for profitability, and yet most small businesses have several productivity leaks that are in desperate need of plugging. Here’s how to weed out the bad habits that may be draining your business of efficiency and put better practices in place going forward. 

We’ve put together a guide to credit control for small businesses to help you manage this process wisely.

Founder & Managing Director spoke with Welink Accountants on what drove him to become an accountant, how Elucidate started, how he likes to work with clients, and much more.

Smaller and younger businesses in particular need to be mindful of cash flow so as not to damage relationships and accumulate debt. Here are some easy tips to help you better manage cash flow in your small business to ensure survival and growth. 

It’s time to re-evaluate your current practices and employ some of the following steps to ensure that your bank balance bounces back. 

Few people are wizards at making money. But it IS possible for anybody to get rid of their money blocks.

Are you wondering why your revenue and profit seem to be on a decline? It's not always about the number of clients.

Here are the seven little-known reasons why it's happening…

Having too many non-paying customers can sink a company. Find out how to avoid this fate.

Cash flow forecasting is a powerful tool for businesses of all sizes. To make it all the more effective, avoiding these common mistakes is crucial.

In order to grow your business, you need to understand how you’re faring. Financial numbers provide you with an accurate picture of your performance, but as a busy business owner it’s unlikely that you have the time or the inclination to spend hours pouring over complex numbers. Here’s what you need to consider.

Let’s take a look at how virtual bookkeeping can benefit your business and how to find the right online bookkeeper for you.

Let’s take a look at why you should swap your spreadsheets for cloud accounting software, and how to make the transition smoothly.

Not sure where you stand and where your business is heading? A cash flow forecast can give you a good idea.

Money leaks in your small business eat away at your profits without you even knowing about it. Even if your business seems to be in great financial health, you should regularly check for leaks to ensure that you’re not unwittingly wasting money. Plugging money leaks can help to reduce your spending and thus boost your profit margins without too much extra work on your part. Here are the most common money leaks to look out for, and how to fix them.

As a business owner, late payments from clients and customers can be extremely problematic. As well as disrupting your cash flow and threatening the financial health of your enterprise, late payments cause a lot of hassle and headaches. Fortunately, however, there are steps you can take to ensure that clients pay their invoices in a timely manner. By being organised and employing the following techniques, you can keep late repayments to a minimum and improve your cash flow.