Practical ways to strengthen small business cashflow

Cashflow is essential for the success of any business, especially small and medium-sized enterprises (SMEs). Many SMEs face challenges such as late payments, fluctuating expenses, and limited access to financing, which can hinder their growth. A recent SME growth index report revealed a significant increase in SMEs turning to non-banks for cashflow support over the last decade. The report shows that 52 per cent plan to use non-bank lending for new business investments, highlighting a growing trend towards alternative financing options to support business growth.