The Banks Roll:
Remember the Bank Manager offering you an overdraft facility providing you had kept in the black for six months.
Well guess what! they now want cash flow forcasts, and the possibility of management accounts for the next twelve months, and further more, wants to know why you have never got any surplus cash in the Bank.
This was not what you were expecting, after all you had expanded over that period and some of the creditors were now taking longer to pay, so of course you were short of funds!
You tell the manager that cash flow forcasts were acceptable, but to produce monthly management accounts would prove costly, and that this would affect the profit margin.
The manager then starts to ask why you think that you can continue to expand, when the market that you are in is in a high risk category.
This is not what you were expecting from the Bank, so you leave very disheartened, and wonder why the Bank is so negative, after all, you are only trying to expand your market share.
email us now
business help, business debts, winding up petitions, banks, creditor pressure, creditors, business help, vat problems. tax, vat debts, vat
copyright 2008 part of the really simple network group of companies.