In the summertime when the weather is hot, you can stretch right up and touch the sky. When the weather’s fine, you got money, you got money on your mind.
Despite changing Mungo Jerry’s 1970 hit song – ‘In The Summertime’ – from the word ‘woman’ to ‘money’ in this reference, here at Aurora Capital we believe that many business owners will no doubt have money on their mind as we head into the middle of the calendar year.
As you may have noticed from the damp patches underneath your arms, the Summer feel-good vibe has arrived – as has the talk of ‘Love Island’ everywhere you turn – however, not everyone is going to be cooped up indoors watching the TV and away from the bright light of the sun!
With this in mind, it is an ideal time to make sure you have the working capital in place to activate any summer plans within your business.
Working capital can be used for business refurbishment, stock purchases, payroll, marketing plans and equipment. These areas are essential to a company’s fundamental financial health and operational success as a business. A hallmark of good business management is the ability to utilise working capital management to maintain a solid balance between growth, profitability and liquidity.
A large amount of cash can be tied up in working capital, so a company managing it efficiently could benefit from additional liquidity and be less dependent on external financing. This is especially important for smaller businesses as they typically have a limited access to external funding sources. Also, small businesses may want to pay their bills in cash from earnings so an efficient working capital management will allow a business to better allocate its resources and improve its cash management.
Working Capital is a daily necessity for businesses, the process essentially becomes an accounting strategy, with a focus on the maintenance of a sufficient balance between a company’s current assets and liabilities. An effective working capital management system helps businesses not only cover their financial obligations but also boost your earnings.
Whether your business is in the startup phase or if it’s been up and running smoothly and experiencing growth, getting a handle on your company’s working capital is an essential part of its overall financial health.
At Aurora Capital we assist UK companies in many business industries to raise the necessary capital they require to facilitate future plans in the company. We have access to 15+ different lenders in a range of different lending markets, enabling us to source the most competitive solutions for your business. Not only will we strive to source the most competitive offers, but we can advise you on the best product for your business moving forward.
You never know, you might be on the first step to reaching out to the exciting summer your business may have on the horizon!
If you would like to contact a funding consultant such as us about activating your business plans for the summer or have any questions for our team, please give Aurora Capital a call on 01371 870 815. Alternatively, you can email us via firstname.lastname@example.org.