Finding Cash Within Your Business

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Following on from my blog 3 weeks ago “Free Cash!! What would you do with i?!?” I noted that most small businesses only wanted an extra £2k to £5k to do what they wanted / needed. This got me thinking and I said that I would blog about how to get those extra pennies out of your business to help you pay for those plans, so here are my top tips:


OK, we are looking at how to “find” spare cash within your business, but the first step is to look at what you are spending personally and what doesn’t need to be spent.  I am not suggesting that you don’t eat, you don’t go out and you don’t live your life – far from it.  But I would recommend the following:

  • Look at all your bank statements – what is going out each month, quarter, year by direct debit and standing order. Are they all needed? That gym membership you never use, the magazine subscription that you have a pile of but not yet read as you don’t have time, these might not look like much, but they add up. If you can find £50 a month that you don’t need to spend then that is £600 over the year that you don’t need to take out of the business and so can save within your business.

  • Look at your PayPal account – what are you spending on and where? Do you have any recurring payments via PayPal that you had forgotten about and can cancel?

  • Look at your personal debts – if you have a credit card can you move it to an interest free card? At least then if you are paying £200 off a month that is actually clearing the balance rather than part balance and part interest payment – it will clear it off quicker and give you more money in the long run in your pocket. This won’t help with your business saving goals. But it will make you feel better, feel in control and that you are making positive steps.

  • Look at all your renewal dates for insurance policies etc and check that you have the right cover at the right price when they renew – we shopped around when the pet insurance needed renewing and saved £100 for the same level of cover with a different provider.

All these add up and means that you can take LESS out of your business so that you can then spend it on what you need / want in your business.


This isn’t just about the finances and where you can save the cash .. it’s also about how or where you can make more cash. 

  • As above, look at the outgoings in your business bank accounts and business PayPal accounts. Do you know what all the direct debits and standing orders are? Do you still need / use them all? That software you tested and had to enter your card details but don’t use, the App you paid for to “make life easier” but no longer use, the networking group you joined but don’t have the time to go to. Most of these are on recurring payments and a lot rely on inertia and us forgetting to cancel them!

  • Are all your costs in your business? Again, this might seem counter-intuitive ... but if you are spending cash on your business but not putting it through the business then you are paying for it personally and needing to pay yourself more to cover those costs! If these total £500 a year then that is again £500 you don’t need to take out the business but also means that you have £500 more profit in your business which depending on your set up is costing you tax (limited company £95 of corporation tax, self employed £145 of basic rate tax and class 4 NI) and that could have been in your business savings fund.

  • If you are busy but constantly feeling like you aren’t making the money you should then look at your pricing – are you charging enough for your products and services? If you are at capacity and there are people wanting more then the chances are the answer to this question is no. I talked about reviewing your pricing here. After all, one way to get more money into your business is to increase your income!

  • If you are at capacity do you need to get some help? OK, paying someone to help you might sound counter-intuitive, but if you can pay someone £200 a month which frees up time for you to generate £500 extra income then you are gaining £300 a month. Sometimes we need to spend to gain more income.

Let me know how you get on ... can you find some extra cash within your business to help you with your goals and dreams?