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Sunday, January 24, 2021
  • Welcome to Wynne & Co.

    Welcome to Wynne & Co.

    Wynne & Co. provide business support to existing small and medium sized enterprises, business advice to startups and other services such as debt management and Read More
  • Business Support

    Business Support

    Our experience and knowledge of business issues and accounting means we are ideally placed to support businesses in Ireland and abroad.   If you want Read More
  • Startups - What can we do for you?

    Startups - What can we do for you?

    Have you thought of striking out on your own? Have you a great idea that could create a new business? Do you have the finance Read More
  • Finance Director Service

    Finance Director Service

    Most businesses could benefit by utilising the skills of an experienced finance director, but not all can afford or justify the cost of employing one Read More
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1. Liquidity:

When money appears to be going out faster than it is coming in, is always a worry for small business owners. No business is immune from a squeeze on working capital. Even the world’s biggest companies can suffer a cash shortage.

It's all about liquidity and the ability of your business to meet its short-term debt obligations.

2. Seeking available credit:

Credit can be used to finance the planned growth of a business, service its debt or smooth out anticipated fluctuations in cash flow.  Seeking a credit facility assures the business owner the company has ready access to funds when required. It often best to negotiate credit facilities when you least need them rather than when you are in panic.

By setting up your credit facilities long before you encounter any cash flow challenges will reduce the worry and stress levels.

3. Unanticipated cost increases:

It’s amazing how costs appear to escalate and before you realise it the profit margins have fallen. You may not notice when the routine overheads of the business expenses edge higher.

Ensure your suppliers offer stability in their prices by negotiating longer term contracts.  Check if there are discounts available for quicker payment. .

Check you gross profit margins on a monthly basis. Compare cost of line items within your overheads with alternative suppliers; utilities, stationery, telephones, insurance. Do this on a rotation basis. 

If you are uncomfortable reviewing those numbers contact us