There comes a time in every business when there really isn’t much cash left after paying your bills, employee wages and operational costs. So, how can you ensure that you have a substantial amount left in your account at the end of the month? Cost-cutting! But we’re not talking about cutting corners from an already tight budget or laying off your employees. We’re talking about practical ways like the ones below to save your business a substantial sum of money!
As most of us are aware, a good credit record is of utmost importance. But did you know that it is important for small businesses too? Not only should all owners of the business maintain a good credit record, but every SME too needs to have a healthy credit rating from an authorised agency such as CRISIL. Most people keep delaying applying for a credit rating for their companies because they find the paperwork daunting. We’re here to help you with just that and break down the paperwork involved.
It’s common knowledge that businesses face cash crunches and issues with capital from time to time. With money issues comes a myriad of other issues that may lead to defaulting of loans and economic offences. Such issues can come knocking on your door anytime, whether you are a seasoned businessman or a first time entrepreneur. And nobody wants to find themselves tagged as a “big time” economic offender. So what can you do to ensure that you don’t find yourself in such a situation?
All businesses, at some point of time, would require a financial impetus to help with their expansion goals or capital needs. A popular way to finance this is to avail a commercial loan. But how sure are you that your loan application will be sanctioned by the lender? Here are three factors that one must keep in mind before applying for a Business loan.
CIBIL Score, an ominous term that makes even the most financially aware among us squirm in our seats. Maintaining a healthy credit score is vital to our financial well-being. So, what do you do if your CIBIL score is low? With some time and effort, you can improve your score using the methods mentioned here.
The invoice due date and its timely payment is crucial for any business to remain afloat. One of the least pleasant experiences for business owners is to chase late payments. As per a report by Atradius on payment practices – Indian economy is doing well with a bright future prospect. A stable political situation, low…
Small Businesses both in urban & rural areas will feel the heat as these are mostly run via cash transactions. Also with the rise in NPA banks will be averse to fund these businesses even for a short period of time. Businesses with cash transaction will now have to rely on funding from other sources and might end up paying a lot more.
Any Business, big or small and even freelancers face the problem of Invoicing and late payments from their clients. This not only elongates the payment cycle but can leave businesses dry and delay their functioning. To avoid such situation, here are few tips on invoicing process best practices. Invoicing Process Best Practices Please follow and…
All businesses inevitably face cash crunches from time to time, at some instance or the other. While larger businesses search and utilise all viable solutions to keep their businesses afloat, small businesses often don’t have many options to choose from. Such businesses need financing mechanisms which are more flexible and specifically cater to their cash flow needs. Invoice Discounting is an alternative financing solution for these businesses that utilises the value of their invoices.