Cash flow and financial management
Recommendations
- Act early, when cashflow concerns arise. Even the best plans and schedules are in need of adjustments. Delays will cause the situation to deteriorate and cause extra stress.
- Be realistic and up front in developing your cash flow plan using the worksheet below.
- Consult and draw up a plan with your Teagasc advisor, agricultural consultant or accountant. They have the expertise and experience to help you develop a cash flow plan for your business.
- Decide on a course of action using your cash flow plan to form the basis of negotiations with your suppliers and banks. Creditors will respond best to realistic budgets and up-to-date cash flow projections, supported by your own records and accounts.
First Steps
- Complete the simple 5 minute cash flow sheet in the document below.
- Move on to complete the current debt and cash flow projection sheets to get a fuller picture.
- Contact your adviser or accountant to help complete a more detailed monthly plan if required.
Cash Flow and Financial Management on Equine Breeding Enterprises(PDF)