National Brokers Network

Tips in Managing Your Income Flow

A business survives when money flows into it. When there is no cash flow, how will an entrepreneur pay for the bills, improvements, employees, and more? That’s why financial health is an important aspect of growing a small business. As a business owner, you need to learn how to manage your income flow in order to afford the necessary payments in growing and sustaining your business at the same time. But, how will you be able to do it? Here are tips how.


Learn to be Frugal

Frugal doesn’t necessarily mean you’re stingy as an entrepreneur. Being frugal means, you know how to handle your money. Check your expenses regularly and cut out expenses that are not that important at the moment or can be bought on another time.


Avoid Debts

Getting the loan can is easy, especially when you have a nice credit standing, but paying it back is the challenge. That’s why it’s always advised to get a load or debts when you really need it or on a carefully managed financial plan.


Set Targets

Financial targets are goals that you aim to reach in terms of minimum cash reserves and money to be used in future fund expansions or capital investments. But, before bringing out the cash, you need at least a minimum cash reserve of three months to be used as a safety net when your business needs it.


Build Rapport with Creditors

The secret in having good creditor terms is building a rapport with your creditors. The technique is years of good communication and on-time payments, fostering trust between you and your creditors.


Liquidate Unused Assets

When there are things lying around and left unused, liquidate them. Not only free up space in your office, but can also provide a financial boost in the business.


Be Honest

If ever your business experiences its worst-case scenario, you need to step up and become honest with your employees and even creditors. As a business owner, it’s your responsibility to become open and upfront of your situation. Even if you pay small values in a steady pace, it will still show that you are willing to stand up from your current standing.

If you’re planning to Buy and Sell Businesses in Australia, you need to learn how to properly handle cash flows in order to grow your business before selling it. Aside from helping your own credit standing, you’re also improving a business hat can attract a number of buyers through listings, such as on National Brokers Network’s website.

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In Consideration of the Vendor of the subject business, or any other business introduced to the Proposed Purchaser and their agent National Brokers Network (“the agent”) providing information to the Prospective Purchaser, the Prospective Purchaser agrees:

1. To keep all information provided confidential in respect to the subject business and any other business introduced to the Prospective Purchaser by the Agent.
2. That no information is to be disclosed by the Prospective Purchaser to any third party without consent by the Agent;
3. That it will not use for themselves. Or for others benefit, such information other than to Purchase the subject business or other business introduced by the Agent;
4. That any agreement to purchase the whole or portion of the business shall be exclusively through the Agent;
5. To immediately return to the Agent all such information and other details in written form including any drawings and any copies made of written information, notes, summaries or extracts of any document therefor if any when requested by the Agent;
6. Under no circumstances will the Prospective Purchaser make direct contact with the vendor of the subject business or other introduced business without the prior written consent of the Agent;
7. If the Prospective Purchaser breaches this agreement or buys the business direct from the Vendor, the Prospective purchaser is liable to and indemnifies the Agent for any and all losses the agent may incur including economic loss and loss of income.v

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