This small two part miniseries starts off by looking at cash flow.
If you’re starting out in business as a PAT tester, finances should be a primary concern but can often be a daunting prospect.
Your inflow and outflow of cash should be closely watched to ensure a healthy cash flow balance.
By carefully monitoring your cash flow, it could help secure your businesses financial future.
The term cash flow means having funds available to pay bills on a regular basis. This means that there
are always funds around to enable regular bill payments to be made when required.
Profit is a completely separate thing to cash balance. Profit is what is left after all costs have been deducted.
To build a successful business, it is important to ensure that cash balances are good so that cash movement is timed to put your cash flow into a positive balance.
Sometimes this is much harder to achieve than it would first seem, it is all about balance and ensuring that your money works best for you.
Your management of cash flow is an essential factor that you must get right in order to ensure that your business survives and grows.
There is little point completing lots of PAT testing for clients if you can’t successfully manage cash flow, as you will never make any money.
If you feel like you would benefit from further training visit electrical training course for further information.
