Prepare a 13 weeks cash flow budget, this is a forecast you don’t know the future exactly including timing of receipts hitting your bank account, so be conservative!
Include everything including all taxes and your salary or personal drawings, be honest
Update your Cash Flow budget weekly, record the actual banking and payments for last week and add a new week 13 forecast. This is called a Rolling Cash Flow
Review your Rolling Cash Flow weekly together with your Financial Controller or inhouse Accountant/Bookkeeper
Make the necessary adjustments to your cash flow to stay within your bank account limit. This may include deferring some payments, making payment arrangements, etc
This could be one of the most important decisions you ever make in your business career, but it will cost
Your chosen professional firm needs to be an all round firm specialising in turning around SME businesses, not just tax accounting, but marketing strategy, sales, operational excellence, and management accounting. They must be hands on to implement a true and sustainable turnaround in your business
Perhaps Business Turnaround Services could be your choice as specialists in implementing SME turnarounds
Business Turnaround Services are passionate about driving performance through your business
Call your local office now for a No Cost, No obligation meeting.
Transforming extreme financial distress into reliable, sustainable profits in $3m-$20m turnover businesses.
What Our Clients Say
We were within 7 days of appointing a Liquidator, but Business Turnaround Services turned around our Company and in 5 months we paid all our creditors up to date due to reworking cost structure, delivering strong profits, managing cash flow, and achieving 20%pa growth rate thereby saving my Business. This also saved my marriage.
We had multi-million-dollar ATO debts and unpaid Super, and faced losing our Business, our Houses, and our Careers, but with Business Turnaround Services we now have a highly profitable growing business with $1m cash in the Bank.
Our Accountants told us to go into liquidation, but instead, Business Turnaround Services turned our Company around achieving strong profits and brought all 120 finance contracts up to date within the first 3 months. Business Turnaround Services went on to increase our business by 300% in 3 years.
We had no work, $1m in ATO, Super, and Supplier debts. Three Insolvency Firms told me to appoint a Liquidator, go Bankrupt and lose my house, but Business Turnaround Services managed our pricing and job costing, so we paid off all creditors within 12 months, Increase our revenue by 300% in 2 years and made a $1.1mil net profit.
My bookkeeper embezzled $400k, I had ATO and Super arrears and my Company was out of control. With Business Turnaround Services my business has doubled in Sales, I now have accurate financial reporting, sustainable profits and I now have control of my Company!
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