Dealing with working capital problems
Your business can benefit from regularly reviewing its working capital requirements.
As many businesses fail due to a lack of cash, effective cash management is crucial. This entails having a full understanding of your business' working capital needs.
Possible delays to the supply chain, and general uncertainty around the economy, will likely have an impact on your cash position, whether you import goods or not. Monitoring your cash position and looking forward will help you ascertain whether you need additional support, either with managing your cash or reviewing your needs for working capital.
If you can foresee potential problems, even if there is some uncertainty, the sooner you speak to lenders and investors, the better.
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Reference to any organisation, business and event on this page does not constitute an endorsement or recommendation from the British Business Bank or the UK Government. Whilst we make reasonable efforts to keep the information on this page up to date, we do not guarantee or warrant (implied or otherwise) that it is current, accurate or complete. The information is intended for general information purposes only and does not take into account your personal situation, nor does it constitute legal, financial, tax or other professional advice. You should always consider whether the information is applicable to your particular circumstances and, where appropriate, seek professional or specialist advice or support.