|
Is Poor Cash
Flow Threatening Your Business?
 As
someone with an interest in a small
business, you probably know how important it
is to maintain a good cash flow. Problems
with cash flow can lead to profitable
businesses having to close, and can cause
serious disruption.
A new survey from Barclays Business
Insurance has found that ‘loss of income’
and ‘customers not paying’ rank above
terrorism and global warming as threats to
small and medium sized businesses.
Over a third of small businesses rank cash
flow problems because of creditors not
paying or a threat to income as a big worry
for their company. Even seemingly simple
problems like a computer not working or the
company van breaking down worry small
business owners far more than the effects of
terrorism on a business or the consequences
of global warming such as flooding and storm
damage.
The survey also revealed that other concerns
for small business owners include being
burgled, sued or held responsible for
personal injuries to employees or visitors
to their premises.
However it seems that business owners have
good grounds for their concerns as it
emerges that over a half have suffered from
customers not paying, with equipment, IT and
vehicle breakdowns also frequent
occurrences. Despite this, many businesses
still have little more than public liability
and basic insurance to protect them and
their company.
Mark Till, Marketing Director for Barclays
Business Insurance, said: “Life is full of
twists and turns and running a business is
no different. There are always going to be
things that happen that you can’t fully
prepare for but many of the issues that
cause the most worry can be covered by
insurance, often at relatively low cost.
For more information on Business Insurance
visit our portal here.
|
