Managing your cashflow
Managing your cashflow is critical to running a successful business. And we want to see your business flourish. To help you run things more efficiently, we’ve assembled a range of information to guide cashflow management.
Our simple, three-step approach
Cash flow affects businesses of all sizes. To look after your business’ cashflow most effectively, consider this three-step approach:
Step 1 - Cash flow planning and projection
Step 2 - Getting paid sooner
Invoice promptly and actively manage your debtors to ensure payment is made in accordance with your budgetary timeline. To get more cash coming into the business you can also consider:
- Reducing your terms of trade so you're paid sooner (e.g. offer a discount for fast payment).
- Increasing your net profit, by either increasing your sales price or reducing your costs of sale or operating expenses.
Step 3 - Keeping the business running
There's a range of finance options to help you when cash flow is tight. Whether you are managing your everyday personal banking and day-to-day running of your business, to planning future growth, our Financing Your Business brochure takes you through finance solutions small and large for the short and long term.
How can we help?
We’re here to assist you ensure you are in control of your cashflow. To talk to us about the banking essentials that would suit your business; and finance solutions to support your business goals, drop into your local Bank of Melbourne branch or talk to our local business experts on 13 82 66.
Conditions and fees apply. This information doesn’t take your circumstances into account. Read the terms before making a decision. All applications are subject to Bank of Melbourne’s normal lending credit approval criteria.