With 2012 well under way, Hilton-Baird gives its top cash flow tips to businesses to ensure they're best placed to ride any future challenges the economy is likely to present.

1. Consider your funding options

The expression 'cash is king' has never been more true than in the current economic climate - it's vitally important for businesses to have a healthy cash flow. However the latest figures from the Bank of England have revealed that lending to businesses fell by £2.7bn in August, a 1.8% decline year-on-year. Therefore with traditional forms of funding difficult to access, businesses need to look at other forms of finance. Asset based finance facilities can release up to 90% of an invoice's value within 24 hours to help bridge the gap between paying suppliers and receiving payment from customers and improve cash flow.

2. Credit control and one-off debt recovery

Late payment of debts resulting in delayed receipts can be detrimental to a business' cash flow and so staying on top of customer payments is vital. Setting up automatic reminders and enforcing credit terms vigorously can help towards managing late payments. Additionally regular credit checking of all customers is advisable in order to manage your risk of customer defaults. Given that there is often little time to focus on chasing debts, outsourcing your credit control function or simply just the odd overdue debt to an expert debt collection agency can help you focus your resources on what matters most: driving your business forward.

3. Maintain your records

Inaccurate accounting information can not only make it difficult to obtain funding but can actually be detrimental to your ability to collect a debt, in an event where you may need to call upon necessary proofs of deliveries. Further, poorly maintained accounting records can cause delay and extra costs for financial and legal advisers reviewing business, therefore it is important for a business to keep their accounting information accurate and up-to-date.

4. Pay outstanding bills judiciously

Staying on top of your own payments as a business is not only crucial to a healthy cash flow but a bad credit history can stifle a business. By being vigilant in regards to which of your suppliers are willing to wait for payment and which will charge you for interest if you are late, you can schedule payments to maximise the cash in your account. However, whilst utilities and subcontractors may be persuaded to wait for payment HM Revenue & Customs won't be as flexible!

5. Diversify and benchmark

Ideally all businesses should have a good mix of clients across a range of sectors and it is critical not to rely too heavily on one or two clients as overreliance is rarely a good thing. Ask yourself where you would be if your top customer revised their budgets and decide to go elsewhere or for whatever reason failed to pay up on the balance currently outstanding with you?

As the market can alter so rapidly, it is good practice to ensure the funding you currently have in place is flexible and meeting any changing needs. Recent statistics have shown that UK businesses rely heavily on inflexible forms of funding such as overdrafts, credit cards, business loans or family and friends. These types of funding solutions are unlikely to offer the support needed in a tough economic climate as they each have limitations, whereas asset based finance provides the flexibility to support your business.

Find out how to improve cash flow through invoice finance or get an invoice finance quote in three easy steps.

Is your credit report so bad that it keeps you up at night? The helpful information in this article will show you how to begin repairing your credit and become financially functional.

If you are currently spending more than you earn, you need to quit that immediately. You you need to rewire your thought process. Easy access to credit makes it simple for many people to buy expensive items that they do not have the money for, and a lot of individuals are dealing with the consequences of those purchases. Take a deep look at your finances, and determine what you can realistically afford to spend.

Make sure you check out any credit counseling agency you consider using. Although some can be quite legitimate, others have motives that are less than kind. Many others are nothing more than scams. Smart consumers will always check to see that credit counseling agencies are, in fact, legitimate before working with them.

This will make sure that you maintain a good credit status. Late payments are reported to all credit report companies and will greatly decrease your chances of being eligible for a loan.

If you make a decent income, consider an installment account when you want to give your credit score a boost. There is a minimum amount each month that you will have to pay, so be sure not to get in over your head. Keeping an installment account will help your credit score.

Examine your credit report to see who exactly you are in debt with and who has been reporting missed payments. The first thing to look for is any obviously incorrect information. Your first step should be completely paying off the debt with the highest interest. Meanwhile, keep up with the other accounts, even if it's just the minimum payment.

If you are trying to repair your credit score, open a new credit account, charge something to it, and then pay it off immediately. You may be able to return to good standing while demonstrating responsibility.

Learn more about debt consolidation to see if it is a useful tool in your quest to repay your debt and rebuild your credit. Consolidating your debt allows you to handle all of your bills at once and repair your credit faster. All your debts are gathered up together into one convenient payment. You need to learn as much as you can about rolling all your debt into one so you can see if it is the right thing for you to do.

Carefully read the small print on your statements. You want to double-check that all the charges are accurate, and that you are not paying for something you did not purchase. You must be accountable for each item on your statement.

Create a plan to settle all of your unpaid and past-due accounts. While this will not remove the debts from your credit report completely, they will be showing as paid and no longer negatively affect your rating.

Only work with legitimate credit repair companies. The credit repair business has a lot of unfair and shady companies. Indeed, some people have fallen prey to credit repair scams. If you read enough reviews, you can find out which ones are good and which are bad.

If credit repair is something you are investigating and a company has told you they can strike true, but negative, information off of your credit report, they are lying. Sadly, harmful entries remain on your report for roughly seven years. Items that you can get taken off your record are those that have been reported incorrectly or unfairly.

As you have seen, no longer does your credit does not have to be something that keeps you up at night. You can fix your credit and no longer have it hanging over your head constantly. By learning from these tips, you can have the credit report of your dreams.

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Credit Keeper is a monitoring company that can be used for a monthly fee, will send you notifications about your credit report and any changes that have been made to it. They have access to all three reports and scores from all three of the major bureaus. Credit Keeper has distinct pros and cons regarding their fee, their customer service, and the actual services they provide.

The program charges a monthly fee of $9.99 per month. If you have suffered identity theft, or is trying to reestablish your score, this is a small price to pay for direct reports from all three bureaus. Similar companies charge from around $12.99 per month to $130 per year, and that can only include one of the major credit bureaus. However, if you are simply trying to keep minimal tabs on your score, then there are free options that would be more suitable for you. They provide less information, but their free reports and scores are all you need if you have good scores.

Credit Keeper is also notorious for excessive late fees and other fees that go unexplained and must be removed through customer service. It is also next to impossible to cancel your account without jumping through hoops. Despite these hassles and fees, the program is available worldwide through Internet access, a feature that many similar monitoring companies do not offer.

Customer service from Credit Keeper also varies. There have been numerous reports of customer service representatives talking down to customers, and even refusing to cancel their accounts in the "best interests of the customer". However, this program also provides consultants and counseling. If you are trying to recover and manage your scores, these aids can be life saving. They provide quality information on how to improve your score and manage your debt and credit so that you can come out on top financially.

I believe it is very good at what it does. They provide quick and simply constructed information on your score and report, and they also include an analysis of how this score was calculated. The summaries provided by the program regarding your score may not always be the most helpful, as they tend to be vague. Another issue with Credit Keeper is that, while the information is accessible on their website, the site itself is clunky and outdated.

Customers may find it difficult to use. Unfortunately, you cannot go back and review old reports from Credit Keeper. They also keeps you updated daily on any major changes to your credit report. This includes inquiries from companies, new accounts opened in your name, and any negative additions to your report. In this modern world, identity theft is a very real threat; these constant updates can alert you to any changes that might hint at a theft.

Credit Keeper also does a good job at notifying you of inaccuracies in your reports. They also help you systematically find each one and work to correct it. These days, inaccuracies on your reports are dangerous; they damage your score and can even lead to jail sentences. The bad thing about this program is that it does not, however, allow you to directly file reports for inaccuracies on their website like other agencies do.

In the business of credit monitoring, Credit Keeper is not bad. While they do have problems with things such as their customer service and their excessive billing, they are true to their cause in providing you with the most update information regarding your credit.

Andrea DeLuca is something of a cross between a ninja & a warrior. Having overcame her battles with negative credit. We all have to start somewhere when it comes to restarting your credit. Andrea hopes to help others create a better and more thorough way of rising above the downfalls of having negative credit. Her main site: Rebuild Credit. Check back for great tidbits and to understand your credit better!

Article Source: http://EzineArticles.com/?expert=MaryLou_Walston

Oil prices are going up all over the world and our reliance on gasoline for our cars and bikes really is not helping our wallets either. Gas prices are jumping all over the place, varying from season to season and spiking every time something happens in some corner of the world. According to simple economics, the ratio between demand and supply determines how much we will have to pay for gas. It is small wonder that gas prices go up during the summer when people take summer trips or during winter when cars take longer to start and their heaters are running on full blow. Simple economics also states that this is a great time to save money.

Several companies have introduced credit card discounts, gift cards and loyalty discount cards as of late, and are actively pushing their products for credit card payments online into the market. Similarly, Exxon and Mobil have teamed up to launch the Exxon Mobil credit card for payments online. However, the difference is how they let you save your money during this inflation. This nifty credit card lets you save by buying a bulk credit package from Exxon Mobil and letting you pay for gas using that card. Not only do you get a small discount every time you use your Exxon Mobil credit card for payment online, you get the option to pay the bill for transactions collected over some time while you are sitting at home. The convenience of credit card payment online simply cannot be overlooked.

Exxon Mobil has also introduced gift cards that you can present to family and friends. You can find them in $25, $50, and $100 denominations and can be used at any Exxon Mobil gas station for both gas, as well as at the convenience stores at the stations. The value of the gift card can be customized as well, meaning you can get one in any denomination you like. They are great for teens that have just bought their first car and are always looking for more gas money. They are great for pretty much everyone, and if you are running your own small business, you can give your employees one of these gift cards instead of gas money. You can pick up Exxon Mobil gift cards from one of their gas stations or if even online if it is more convenient for you. These cards are great for small businesses as they let you manage how much gas money you give to your employees, and you can even use them as small bonuses.

However, you should keep in mind how much money you have left on your gift card at all times. This way, they can track their gas consumption more responsibly and at the same time, avoid embarrassing situations at the station where they run out of balance on their card, and do not have enough cash for the gas they bought. You can find out how much balance you have on your card by calling the customer service number given on the back of the card. Exxon Mobil credit cards for payment online, and gift cards are ideal for today's fast-paced lifestyle and high inflation.

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Savings gives us a sense of security and we preach the joys of savings to children and eager to start them young. But why is putting away some cash and not spending it difficult for many adults? Perhaps it is time to practice what we preach. We can start by these simple, creative tips on savings.

First of all, always have a list when you go shopping and stick to your list. You should never walk into a store without an idea of what to buy, a quick browse in a boutique may cost you a dress that you don't need. Always write down all the things that you need, only these items are allowed in the cart and to check out. Resisting temptation will save you plenty of money.

Too many friends and too many birthday parties and dinner invitations? Many people spend a considerable sum of money when buying gifts for friends and family. How about making some of these gifts? It is fun, cheaper and definitely very thoughtful. Bake a cake, make cookies, jam, candles and consult craft websites for easy packaging ideas. A handwritten note gives it that personal touch and your friends will definitely appreciate it.

Invite friends over instead of hitting the pubs and fancy restaurants. Almost every activity outside your home cost you money. And you will be surprised at how many people actually dread the crowd, queues, dress codes and all that just for a night out. Have friends over, have a potluck dinner and throw in a good DVD. Cozy and wallet friendly!

Cut back on expensive habits such as the latte on the way to work. Instead, try brewing your own coffee. Limit fast food lunches and pack a sandwich. Not only are you making healthier choices but meals prepared at home are also so much cheaper. If possible, eliminate or reduce other expensive habits such as cigarettes and alcohol.

Love your books, CDs, DVDs? Clean out your collection and start swapping them with your friends. Sort out the ones you don't need anymore and sell them over the Internet or second-hand stores. Swapping with friends is easy, fun and gives you a great variety.

I know this is difficult for most parents but stop splurging on young children. Stop buying expensive toys that they only play once and outfits that they will only wear for a month. Instead, come up with activities and projects for them. Get them to draw on pavements with chalk, origami with newspaper and even a doll house with card boxes. Bring them to the parks instead of the shopping mall. Not only does this encourage their creativity, it will also save you a lot from unnecessary spending.

Behind on bills and swimming in debt? I have received countless questions over the years from people wanting to know how to get out of debt. I created a list of easy ways to make money which people use a foundation to pay down debt. To find out more, please visit: =>http://www.PersonalLoans911.com