Happy New Year!! I hope you all took the time to celebrate your wins in 2018, enjoyed some well-deserved downtime, are feeling refreshed and ready to take on 2019.
So have you checked your business bank accounts? Are they looking healthy? If so, hats off to you and keep up the great work. If not, it sucks, but you’re not alone. The Christmas/holiday period through to mid-January is often the most difficult time to manage cash flow.
Let me set the scene, your B2B customers have all been on holidays, many haven’t settled their December accounts and may not do so until their finance teams are back from holidays. Everyone being on holidays also means that end user sales are slow into January, which is made worse by the fact that most people are about to receive their post-Christmas credit card statements. Once they get over the bill shock, chances are they’ll cut down of general spending to pay off the damage done in December and again sales will take a hit. All the while, you’ve had to pay leave entitlements to employees during the holidays while little, to no cash was coming in. All of these factors aren’t good for business right now, or your cash flow over the coming months.