Mark Doyle of Parson Consulting offers a step-by-step guide to getting your working capital to work harder.
With uncertainty in the banking sector still alarmingly high, the days of unlimited access to cheap money are gone, albeit temporarily. So what do you do if your business requires some short term additional cash? The quickest and easiest way is to find the funds internally through improved working capital management.
The benefits of effective working capital management extend beyond releasing funds for growth opportunities (or reduced borrowings). For example:
- faster response to marketing op...