Prioritise your bills
Knowing which bills you need to pay and when could help you fill gaps in your cash flow. Those that have longer pay-by dates can be put off, letting you focus on those that are more urgent.
It means you can change the order that you pay bills. For example, some bills might charge interest or fees the longer you leave them, so it makes sense to pay these first and leave the less urgent for when more funds have come in.
Apply for finance
Looking for additional funding to shore up day-to-day finances can be a good idea. To bridge unexpected cash gaps, you could look into quick-fix options like using a business credit card or applying for an unsecured business loan from your bank. These can often be approved and paid out within a matter of hours, meaning you can breathe easy sooner.
Taking decisive action to keep cash moving through your business is key to keeping your operation afloat and thriving. It's always best not to wait until you find yourself in the deep end to seek help. There are steps you can take to future-proof your business finances.