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Financial advice to improve the solvency of your business

In business, it is wise to learn about practices for healthy financial management. Despite the ups and downs of the market, profitability can be maintained by making certain adjustments.

In the end, most financial advice is as effective for small companies as it is for large companies.

Discover some examples of good business practices that prevent indebtedness.

10 financial tips to reducing your company’s indebtedness

 

Here are 10 financial tips and good business practices known for their effectiveness in the business world.

Remember that our professionals can also offer you customized financial advice if you are experiencing temporary or major indebtedness problems.

  1. Always ensure that you maintain good liquid assets.
  2. Make realistic projections of short-term cash inflow and outflow as well as financial forecasts.
  3. Negotiate short payment terms with your clients, and make sure they are solvent.
  4. Conversely, try to negotiate advantageous credit agreements with your suppliers.
  5. Maintain your inventory at the minimum acceptable for your sector, and restock more frequently.
  1. When seeking financing, consider multiple scenarios and make a thorough assessment of the advantages and disadvantages of each: term loans, lines of credit, issue of shares, etc.
  2. Establish a trust relationship with your financial institution through transparency and by initiating an open dialogue with your account manager.
  3. If you are eligible, take advantage of government financing programs.
    Find programs.
  4. Analyze the operating costs of your business with regard to the returns on investment they generate and use this analysis to reduce your spending in the right places.
  5. Separate your personal assets from those of your business so that you do not compromise your family’s well-being in case of financial difficulty.

What to do in case of financial problems?

When the early warning signs appear, it is important to consult a professional who will provide you with financial advice adapted to your reality. The quicker you act, the easier it will be to recover healthy financial management. In most cases, the situation can be settled with one of our solutions designed for companies. Our financial advice will help resolve your debt problems with concrete, effective action.

Consult us for customized financial advice

 

Simplify financial management

Repay debts

Avoid bankruptcy

Reduce commercial indebtedness

Maintain solvency

Contact one of our advisors if you are considering a company restructuring.

At any time, they are available to answer your questions and help you make the right decision.

Fill out our quick financial analysis form or the appointment form that follows for a consultation.

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