We cannot stress further the importance of properly managing your cash flow to ensure the smooth running of your business. However, in times of crisis such as the ongoing COVID-19 pandemic, this becomes more than important– managing your cash becomes a necessity for survival. If you are experiencing cash flow troubles, here are five things you can do to manage your cash flow better. Check your expenses. Now is the… Read more
The Oasis Difference The Business Oasis story starts in a small town in Tasmania where my father used to make a living as a Fisherman. Growing up in a household with a seasonal & lumpy income, I have always known the pressure that it can place on your family when you’re not certain how much cash flow you will have this month and you’re not in control of your… Read more
Why do a Health Check? Outsourcing your bookkeeping makes sense. It enables you to spend time doing the important work of developing your business and ensuring that you are not overwhelmed by “the Bookkeeping Monster”. However, this is your business and you are ultimately responsible for its health. One of the most dangerous things you can do is abdicate this responsibility to your bookkeeper. You have all heard the old… Read more
Customers Watch out for credit-worthiness of customers. If you are a service based business, try to get up front deposits and progress payments. If you are a product based business, check previous payment history of your big customers and negotiate better payment terms from them. Stock Closely monitor stock requirements. Check sales figures for trends and allow for some decline in sales compared to previous periods. Don’t get sucked into… Read more