mybusinessworks

Dealing with small business cash flow problems

By  
May 1st, 2012

Learning to deal with small business cash flow problems is a lesson often learned the hard way. It’s easy enough to ask the bank for help, but they’re not always willing to lend, particularly if you’re a new business without a proven track record.

This post from The Start Up Donut contains a few ideas for solving small business cash flow before they wreak havoc, helping you to get invoices paid quickly. We’ve used a few of these techniques to avoid borrowing, and they really work.

Start Up Donut: How to get through a cashflow crisis

Don’t forget to have a look at our review of Credit Focus, an online instant credit checking service for small businesses.

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Review: MyBusinessWorks Credit Focus

By  
January 19th, 2012

CFIf you have a Barclays business account, you might have been told about MyBusinessWorks and Credit Focus. The two products offer a package of benefits to Barclays customers, such as credit checking, in return for a subscription fee.

In this review, we’ll look at how Credit Focus works. We used the application from January 2012 until November 2012.

What is Credit Focus?

Credit Focus is essentially an interface to Experian’s credit reporting system.

It allows you to check creditworthiness, monitor changes in credit scoring and engage a solicitor if you see a problem with a client’s payment history. You can also then send a letter.

Credit checks are free and unlimited in return for the monthly subscription fee.

CreditFocus

Over time, we have changed the way we use Credit Focus. We used to use it retrospectively, which wasn’t very effective. By the […]

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My first few days with FreeAgent cloud accounting

By  
May 10th, 2011

I blogged the other day about accounting. It’s an area I’ve really struggled with in the past, so this time I decided to do it properly. Red Robot Ltd hired an accountant via People Per Hour as soon as it became apparent that we needed one (OK, it did take me a little while to cotton on, but at least I got there!). Our accountant then advised us to use an online accounting package – sometimes called a cloud accounting or bookkeeping application – to keep our books in check.

I trialled a few online accounting websites at the weekend. I ran them through the classic technical author test: can I log on and use this without the manual? (In other words; would this site put me out of business?). The answer was no with every cloud accounting application I tried. They were all confusing. Clear Books took […]

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