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Are you getting enough? (cash, that is!)

Posted 11/02/2019 by Patrick Leavy

The whole point of starting a business is to make money, right?

To do that you must be profitable, but even then, with a healthy-looking monthly profit or loss statement, you can run into cash flow issues.

Xero have released data showing the top 10 small business sectors on Xero owed the most from late payments on average.

1. Wholesale trade (£42,989)

2. Administration and support (£40,662)

3. Transport, postal and warehouse (£31,555)

4. Public administration and safety (£31,541)

5. Electricity, gas, water and waste services (£31,309)

6. Financial and insurance services (£29,732)

7. Manufacturing (£29,123)

8. Information, media and telecoms (£28,682)

9. Construction (£25,880)

10. Professional, scientific and technical services (£23,554)

Pick your industry sector and think about what you would do with that money. Pay off a business loan? Or maybe pay some suppliers that you’ve been fending off?

We’re always here to help improve your cashflow by recommending clever tech services such as GoCardless, Chaser and Float, and by providing you with proactive advice and finance coaching. Our monthly reporting is entirely visual, so say goodbye to boring spread sheets, and say hello to bespoke visual trends and alerts!

Businesses with owners who engage with cash management are more likely to succeed than those who leave it to their admin staff. So, get in touch if you want to boost the amount of available cash to your business. We’re happy to give you a demo of Float so you can see how you can use it to forecast your short-term cash position. If you’re not feeling chatty right now here’s a video of how Float works.

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