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Management Skills Crucial for Healthy Cashflow

Has your business got what it takes to succeed in the burgeoning UK economy? Improvements in the economic situation can be greeted with relief but did you realise how growth can also be a problem for many SMEs in the UK? Effective cashflow management is crucial at all times, but particularly when a business is negotiating and managing growth. Without healthy cashflow, business growth is stalled and may be affected for years to come. Using effective management skills for your business is one way to successfully enhance cashflow. How to Make Business Growth Ideas a Reality: Focus on Cashflow Many business owners have a wealth of business ideas but lack the key management expertise to get them flying off the ground. It is usually more attractive and exciting to plan new concepts and line up new aims than it is to focus on the day-to-day management of the company but it is through using skills in this area that is essential to driving business growth. For example, managers who can successfully spot cashflow problems in advance and put strategies in […]

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How to Be Responsible With Credit Cards

Irresponsible spending on credit cards often leads to financial ruin. This is because consumers just spend and worry about the bills later. Credit card statements are one of the most ignored pieces of mail. Missing a payment affects your credit and results in more interest being tacked on to your balance, thus reducing your available credit. Pay Off Balances If you need to use your credit card, make small purchase like gas or groceries. Pay off these balances when you get the bill. Don’t let them linger by making only minimum payments. It is a good rule of thumb to refrain from making purchases that you cannot pay in full when the statement comes. While keeping revolving credit active on your credit report it does show financial responsibility in regards to on-time payments. However, the recurring interest does not help you financially. Pay More than Minimum Payments If you cannot pay the balance in full when the statement does arrive, at least double the payment or make it considerably more than the minimum amount due. Paying only minimum is not […]

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