Please find below a very simple cash flow statement tool which I urge you to use to help you manage your cash flow.
There are some made up numbers in there currently. Clear them all out and enter your own figures.
Use this tool as a starting point to plan your cash needs.
How does the tool work
- The light pink cells require you to enter your monthly income and expenses each month. If you close for a period of time, you may have ZERO income in those months BUT still have the expenses.
- Cell B34 (green colour) details your approximate current bank balance in your business.
- Once you have entered these key figures you will then see in row 34, your cash bank balance based on your forecast scenarios at differing time points.
- You may also need to take into account tax payments too, the spreadsheet can be adjusted by you for your needs.
- The tool will then say in row 34 your funding shortfall, if you have one, and the approximate cash you will need to raise.
Personally, I suggest you plan for the worse case scenario and work out the cash you actually require to keep your business in the black.
If using spreadsheets is not your strong point, let us know, we can help you, but we are dealing with these on a first come first served basis.
Once you have worked out a projected cash flow for your business, you will be better able to plan the growth of your practice.
If you need finance for your business then book a call with Nigel or Dan to find out the best options for you.
Commercial Loans for Healthcare Businesses
We’ve been helping to fund the future of British healthcare businesses for over 20 years and our team are made up of former bankers with decades of experience in the UK’s healthcare lending sector.
You can find out more about working with Samera and the financial services we offer by booking a free consultation with one of the Samera team at a time that suits you (including evenings) or by reading more about our financial services at the links below.
For more information on raising finance for your healthcare business, including more articles, videos and webinars check out our Learning Centre here, full of articles and webinars like our How to Guide on Financing a Dental Practice.