Good cash flow is essential for any business to survive and flourish and never more so than for SMEs. Whether you are a sole trader or a limited company, if it is not monitored carefully there will be problems. Getting robust procedures in place will reduce the risk of being forced to write invoices off completely and start debt recovery proceedings.
David Hughes sums up his entrepreneurial career to date thus: four spectacular successes and two failures. He founded the sports retailer Allsports and achieved turnover of £180 million before a vicious price war meant decline, administration in 2005 and a sell-off to rival JD Sports.