Category: Finance for Contractors

Business owners have been advised to review their financial situation in light of the uncertainty facing the country's economy.

Ahead of chancellor George Osborne's emergency Budget next week, Bibby Financial Services has said it is now more important than ever to stay on top of cash flow.

The government is set to make cuts to public expenditure and could also mean changes to taxes including VAT and Capital Gains Tax.

"This may force many firms to make cuts or rationalise their processes, adding additional pressure on owners and managers," commented Bibby Financial Services UK chief executive Edward Rimmer.

"The most successful in the market will be those who plan ahead and tighten up their processes to ensure they are in a strong position to face any changes that come their way."

Cash flow is the lifeblood of the business and improving it can give many advantages, he continued, particularly during unpredictable times.

Posted by Sarah Putt