Depending on the individual situation, you can take one or more of these actions:
– The company’s capital Increase your openness. This is financially feasible and makes cash contribution into the working capital.
– Accept new shareholders who contribute capital to the company.
– Solve your possibilities to avail yourself of an Opens internal link in the current window.
– Try to increase your credit limit when talking to your house bank, in order to quickly get liquidity and to avoid the overdue of the account.
– Please consider a liquidity security loan the bank.
– Create existing capital or incoming payments immediately to secure interest. In this case, you should give preference to short-term investment forms (e.g. daily money accounts). Look at here.
– Reduce your private purchases.
– On the customer, side makes sure that invoices are always placed immediately and that you do not wait until the end of the month. They are best delivered directly with the delivery.
– Take care of your outstanding. Have unpaid invoices collected by a collection agency or apply for a court order.
– Enter an active claim management and regularly remind open invoices for which the payment target has expired.
– Use factoring and sell receivables to get liquid funds quickly.
– The payment targets for your customers should be kept as short as possible.
– Enable your customer discount – most will try to take advantage of this. This often results in much faster payments.
– Arrange payment for non-liquid customers. Then at least you get a little money now, not at all.
– Offer your customers the direct debit process to avoid forgotten payments.
– Depending on the order, you may be able to calculate a down payment in order to avoid unnecessary advance payments.
– Check the creditworthiness of new and existing customers (e.g. by means of economic agencies).
– Include actions or discounts for cashiers.
– Check the pricing of your product prices. Just make sure you do not actually win with each sale instead of losing money.
– Reduce sparingly with fixed permanent discounts (e.g. customer X receives a 15 percent discount on each purchase).
On the delivery page
Talk openly with suppliers and banks. Liquidity bottlenecks can often be overcome jointly with appropriate early communication. However, not to lose a word about it and to say something, if it is already too late to react, is the wrong way. This can mean terminated credit agreements or even canceled supplier relationships.
– Arrange with suppliers longer payment targets.
– Use payment targets as far as possible.
– If the supplier grants a cash discount, please use the detailed sample calculations to check whether it is not convenient for you to pay the invoices within the checkout counter and to use the house bank’s credit facility.
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– Reduce your stock levels and store only on-site what you need often and in the short term. Even if volume discounts lure – buy only small quantities that you actually need. Get several offers and compare them to find the best prices.