{
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  "sources": ["ssg:https://framerusercontent.com/modules/oMQw6xcDNQaan9q0eNgu/2QAmgkcEUjWasLd2RaWB/tNggkEb5h-3.js"],
  "sourcesContent": ["import{jsx as e,jsxs as t}from\"react/jsx-runtime\";import{Link as a}from\"framer\";import{motion as n}from\"framer-motion\";import*as r from\"react\";export const richText=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Despite the basic fact that cash is cash, most companies have distinct policies, processes, and tools in place, depending on how or why they make or receive payments. This makes it far more work to gain control over your wider cash flow.\"}),/*#__PURE__*/e(\"p\",{children:\"We believe that payables, receivables, collections, loans, factoring, expenses, and even payroll are all pieces of the same cash puzzle. By bundling these processes together, you get the cash visibility you need to function at the highest possible level. \"}),/*#__PURE__*/e(\"p\",{children:\"To help you get a grip of your cash flow once and for all, we're taking a look at seven of the most common SMB cash flow processes, as well as common challenges\u2026 \"}),/*#__PURE__*/e(\"h3\",{children:\"7 typical SMB cash flow processes and their challenges\"}),/*#__PURE__*/e(\"ol\",{children:/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"h4\",children:/*#__PURE__*/e(\"h4\",{children:\"Accounts payable\"})})}),/*#__PURE__*/t(\"p\",{children:[\"There are two categories of challenge we see every day when small businesses \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/supplier-invoice-management-guide-and-tips\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"manage supplier invoices\"})}),\": operational and strategic. \"]}),/*#__PURE__*/e(\"p\",{children:\"Operational issues include lost invoices, long payment delays, human error from data entry, and no clear way to track approvals. All of which put extra strain on finance teams and accountants at the end of the month.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"The strategic challenges are often less obvious. Most SMBs don\u2019t think about them at all. But \",/*#__PURE__*/e(\"strong\",{children:\"smart AP strategy lets you pay supplier invoices at optimal times\"}),\" - usually as late as possible. Or pay early and receive discounts.\"]}),/*#__PURE__*/e(\"p\",{children:\"Most have a simple system:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Pay invoices within 30 days\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Bank run weekly/bi-weekly/at the end of the month\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"While paying in bulk this way is (relatively) efficient, it ignores the payment terms for each specific invoice. \",/*#__PURE__*/e(\"strong\",{children:\"Company cash has real-time value, which you should actively use to your own benefit\"}),\".\\xa0\"]}),/*#__PURE__*/e(\"ol\",{start:\"2\",children:/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"h4\",children:/*#__PURE__*/e(\"h4\",{children:\"Accounts receivable and credit sales\"})})}),/*#__PURE__*/t(\"p\",{children:[\"Then there\u2019s the other side of the coin: receiving payments from customers. We\u2019re just focused on outstanding credit sales here - if you get paid up front at the checkout, the \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/what-impacts-cash-flow-in-f-b-businesses-and-why-it-matters\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"cash flow\"})}),\" is taken care of.\"]}),/*#__PURE__*/e(\"p\",{children:\"Depending on your industry and business model, you likely follow standard benchmarks and don\u2019t overthink it. Which is perfectly reasonable.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"But there are two issues to consider:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[\"Do your current payment conditions \",/*#__PURE__*/e(\"strong\",{children:\"bring in cash as early as realistically possible\"}),\" (without turning off customers)?\\xa0\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Do customers actually pay on time\"}),\"? And how successful are your collections processes when they don\u2019t?\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"As long as most customers pay their bills mostly on time, and don\u2019t create extra headaches, you probably don\u2019t worry about it. But as we\u2019ll see, getting paid quickly is a massive cash flow advantage.\"}),/*#__PURE__*/e(\"ol\",{start:\"3\",children:/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"h4\",children:/*#__PURE__*/e(\"h4\",{children:\"Dunning (collections)\"})})}),/*#__PURE__*/e(\"p\",{children:\"Not every company has a formal dunning or collections process. It\u2019s often left to frontline sales and customer support teams to ensure their contacts pay.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Naturally, the process is unpopular on both sides of the equation. Customers don\u2019t enjoy being chased, and they simply may not have the funds available.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"And you don\u2019t want to have to chase customers in the first place. It adds no value to simply be made whole, and can put the relationship on an awkward footing. But smart SMBs take collections seriously and can balance their own collections needs with keeping customers happy.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"As \",/*#__PURE__*/e(a,{href:\"https://www.goodandpropertea.com/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Good & Proper Tea\"})}),\" founder Emilie Holmes explains, \u201CWe work with hundreds of wonderful hospitality operators. So we need to make sure that we\u2019re really hot on credit control, that we\u2019ve got the cash coming in that we expect to come in. And we need to balance that against helping our customers, particularly if they\u2019re in a pinch moment or are a multi-site business.\u201D\"]}),/*#__PURE__*/e(\"p\",{children:\"The key for Emilie is good communication - first amongst her own team and then externally with customers. \u201CWe look at credit control with the full team every Monday: who hasn\u2019t paid and who has, and why? Not so that we can hunt them down or threaten them, but to manage our exposure and help everyone. And we talk to the bigger clients constantly, to make sure there\u2019s nothing else we can do to help them pay.\u201D\"}),/*#__PURE__*/e(\"ol\",{start:\"4\",children:/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"h4\",children:/*#__PURE__*/e(\"h4\",{children:\"Credit, loans, funding\"})})}),/*#__PURE__*/e(\"p\",{children:\"When payments aren\u2019t flowing in - either due to slow sales or lengthy collections - you may need to look at external funding sources. Which is why cash visibility is so important in the first place. You may not realise how necessary or impactful a line of credit could be until you\u2019re in serious trouble.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"And loans can also help in good times. Suppose you see a sudden boost in orders, but you don\u2019t (yet) have the cash to order enough inventory. The very \",/*#__PURE__*/e(\"strong\",{children:\"best time for a quick funding injection is the moment it\u2019s clear that your current cash flow won\u2019t cut it\"}),\". But you may have no idea until a month or more later, once reconciliations are done and the books are closed.\"]}),/*#__PURE__*/e(\"ol\",{start:\"5\",children:/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"h4\",children:/*#__PURE__*/e(\"h4\",{children:\"Factoring and invoice financing\"})})}),/*#__PURE__*/t(\"p\",{children:[\"If you have long customer payment terms, or clients that consistently fail to pay, \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/advantages-disadvantages-of-factoring-for-uk-smbs\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"factoring\"})}),\" may be a good option. This gives you a loan against those outstanding invoices, in exchange for a fee. Which means cash now, when you need it.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"But a lot of SMB owners simply don\u2019t know this option exists. And for those who do, there are plenty of drawbacks:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Lower profits\"}),\" because the third party takes a cut\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"High rates\"}),\" which eat into those profits\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Significant effort\"}),\", particularly if it\u2019s your first time using this method and you don\u2019t already have a factor\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"There are a lot of providers\"}),\" which again makes it hard to get started\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Customers may not like being chased by third parties\"})})})]}),/*#__PURE__*/e(\"p\",{children:\"Factoring is a lever to pull when you need cash. But by the time you realise this, it\u2019s often too late to take full advantage.\\xa0\"}),/*#__PURE__*/e(\"ol\",{start:\"6\",children:/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"h4\",children:/*#__PURE__*/e(\"h4\",{children:\"Expenses\"})})}),/*#__PURE__*/e(\"p\",{children:\"Petty cash, travel costs and out-of-pocket expenses often have their own murky system in small businesses. And even if we leave aside the admin hassles - which are plentiful - there\u2019s the issue that you often don\u2019t know who\u2019s spent what until expense claims come in. That can be months after the actual payment was made.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"As the business owner or finance leader, \",/*#__PURE__*/e(\"strong\",{children:\"you have far less control over employee expenses than you need\"}),\".\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"If your goal is to have real oversight of company spending - with no nasty surprises - the typical expense claims process is a bad way to go about it. Particularly where it\u2019s completely divorced from other outgoings like AP and payroll.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"This brings us to the last of our seven processes\u2026\"}),/*#__PURE__*/e(\"ol\",{start:\"7\",children:/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"h4\",children:/*#__PURE__*/e(\"h4\",{children:\"Payroll\"})})}),/*#__PURE__*/e(\"p\",{children:\"Payroll is almost always kept separate from other operational spending. This broadly makes sense - it\u2019s more of an HR topic than core finance.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"But it does impact your cash flow. And for low-inventory businesses, it\u2019s easily the biggest cost on your books each month.\"}),/*#__PURE__*/e(\"p\",{children:\"You can\u2019t (and shouldn\u2019t) optimise payroll by paying late or less often, but you need to view this outgoing money as part of your overall cash cycle.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"What is a high-functioning cash conversion cycle?\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Growing small businesses always need more cash in hand\"}),\". High liquidity lets you invest quickly in new growth initiatives, stay ahead of debts, and instils confidence in investors and lenders.\"]}),/*#__PURE__*/e(\"p\",{children:\"What this means in practice:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Short receivables periods (days sales outstanding)\"}),\". The sooner your clients pay you, the sooner you have cash to spend. There are very few instances where a long DSO is best for a typical small business\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Long payables delays (days payables outstanding)\"}),\". The longer you can wait before paying suppliers, the more cash you have available in the interim\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Fast inventory turnover (days inventory outstanding)\"}),\". Unsold inventory is an asset, but not a liquid one. The less time products sit in storage waiting to be sold, the less burdensome they are on your business\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"For the customers we work with, the \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/why-now-is-the-time-for-f-b-entrepreneurs-to-review-financial-setup-cash-flow\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"cash conversion cycle (CCC)\"})}),\" is often between 20-150 days. That means for each pound spent, it can take up to five months to see cash return to their accounts.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"But getting to the lower end requires strategy and an acute understanding of your cash flow at any given moment.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"How bundling payment processes helps achieve a low CCC\"}),/*#__PURE__*/e(\"p\",{children:\"Visibility is key to a world-class cash conversion cycle. If you know what\u2019s coming in and out - in real time, not retroactively - you can make the right decisions at the right times.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"But without very sophisticated business intelligence tools, it\u2019s almost impossible to get that visibility while processes are separate.\\xa0\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"The standard source of truth is bookkeeping: most of the processes we saw above are visible on your balance sheet and/or cash flow statement. But \",/*#__PURE__*/e(\"strong\",{children:\"these statements aren\u2019t updated until the end of the month\"}),\", at best. In smaller companies, it might only be quarterly or even annually.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Can you accurately state your cash flow position right now?\"}),\" Probably not, and it\u2019s because these systems are separate.\"]}),/*#__PURE__*/e(\"p\",{children:\"That matters if you do indeed want to master cash flow. Cash visibility lets you make smart choices, including:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Paying suppliers at the end of payment terms\"}),\", and using that cash now to invest elsewhere\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Finding a bridging loan or factoring application\"}),\" if you know you need short-term cash to tide you over\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[\"Likewise, if the market is hot but cash is tight, \",/*#__PURE__*/e(\"strong\",{children:\"a well-timed loan lets you invest\"}),\" quickly and ride the wave\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"12px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Reducing non-essential expenses\"}),\" in periods where you know cash comes in more slowly\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"Bundle finance processes for more visibility over cash as a whole, and these become relatively straightforward tactics.\\xa0 \"}),/*#__PURE__*/e(\"h3\",{children:\"How Mimo provides real cash visibility \"}),/*#__PURE__*/t(\"p\",{children:[\"This issue is exactly what we\u2019re solving at Mimo. We started with \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-payable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"payables and payroll\"})}),\", so you could see all outgoing payments in one place.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"Next came \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-receivable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"receivables\"})}),\", which are also now in the same dashboard, so you see how and when customers are paying. When those payments are slow, you can access \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/cash-flow-management\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"credit lines for up to 60 days\"})}),\".\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Soon, you\u2019ll have tools to reduce late payments including automated reminders, customer payment portals, and easy ways to offer flexible payment terms to clients. And you'll be able to finance credit against outstanding receivables (akin to invoice financing), since they\u2019re already in the system.\"}),/*#__PURE__*/t(\"p\",{children:[\"All of this makes mastering cash flow simple. You have \",/*#__PURE__*/e(\"strong\",{children:\"complete visibility and control over money in and money out\"}),\", and the best possible tools to take action when required.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"Want to know more? \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/signup/product-tour\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Get in touch\"})}),\" today to find out how Mimo can help you take control of your cash flow. \"]})]});export const richText1=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Despite being set against the backdrop of the UK having recently entered a technical recession, defined as two-quarters of a decline in GDP, the accompanying OBR forecasts released during the spring Budget predicted that inflation will fall below 2% over the next few months. \"}),/*#__PURE__*/e(\"p\",{children:\"This allowed the Chancellor to introduce a range of new tax-cutting measures to try to reposition the UK as a high-skilled, high-wage economy. \"}),/*#__PURE__*/e(\"p\",{children:\"We\u2019ve picked out the key points relevant for SMBs so accountants and bookkeepers are best placed to advise their clients on incoming changes. \"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Information accurate at the time of writing.\"})}),/*#__PURE__*/e(\"h4\",{children:\"Taxes\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"National Insurance Cut\"})}),/*#__PURE__*/e(\"p\",{children:\"From 6 April, Class 4 National Insurance Contributions (NICs) for self-employed individuals will be reduced from 9% to 6%.\"}),/*#__PURE__*/e(\"p\",{children:\"This is in addition to the already announced abolition of Class 2 NICs, which will be scrapped at the same time.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Individuals with profits of \\xa375,000 will save over \\xa31,300 once changes are reflected.\"}),/*#__PURE__*/e(\"p\",{children:\"There are also incoming changes to employee NICs. However, these won\u2019t affect the payroll of clients because they are deducted from the pay packets of employees.\"}),/*#__PURE__*/e(\"h4\",{children:\"VAT Threshold Increased\"}),/*#__PURE__*/e(\"p\",{children:\"From 1 April, the VAT threshold will increase from \\xa385,000 to \\xa390,000. This will be the first time it has been raised since 2017.\"}),/*#__PURE__*/e(\"p\",{children:\"It\u2019s encouraging to see the threshold raised, but its marginal increase is unlikely to offset many smaller businesses getting dragged into exceeding the uplift due to inflation.\"}),/*#__PURE__*/e(\"p\",{children:\"Thankfully, the Making Tax Digital (MTD) rollout and wider adoption of cloud accounting software have made VAT administration easier and cheaper to deliver to clients.\"}),/*#__PURE__*/e(\"h4\",{children:\"New British ISA\"}),/*#__PURE__*/e(\"p\",{children:\"The Government will create a new British ISA allowing individuals to invest up to \\xa35,000 in qualifying UK businesses.\"}),/*#__PURE__*/e(\"p\",{children:\"This allowance will be separate from the \\xa320,000 limit available to invest in other ISA products.\"}),/*#__PURE__*/e(\"p\",{children:\"Similar to other ISA products, investments can grow tax-free and are exempt from capital gains while they are maintained inside a tax wrapper.\"}),/*#__PURE__*/e(\"p\",{children:\"While the British ISA has yet to be launched, accountants should flag its availability for business owners who may already be utilising the full existing main ISA allowance in a personal capacity.\"}),/*#__PURE__*/e(\"h4\",{children:\"Sector Specific Tax Measures\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Hospitality and Alcohol Producers\"})}),/*#__PURE__*/e(\"p\",{children:\"Alcohol duty will be frozen until 1 February 2025, an extension of six months from previous announcements.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Clients serving alcohol in the hospitality sector may want to maintain or increase consumer pricing to take advantage of this measure and protect their revenues.\"}),/*#__PURE__*/e(\"p\",{children:\"Similarly, this will be beneficial to producers of alcohol who export their products overseas, as well as sell nationally.\"}),/*#__PURE__*/e(\"h4\",{children:\"Creative Industries\"}),/*#__PURE__*/e(\"p\",{children:\"In a boost to the film industry, the new UK Independent Film Tax Credit (IFTC) will enable filmmakers to opt in to claim a 53% tax reduction on qualifying expenditures.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"To be eligible, the production budget of films cannot exceed \\xa315m.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"Business Support\"}),/*#__PURE__*/e(\"h5\",{children:\"Recovery Loan Scheme (RLS) Extended\"}),/*#__PURE__*/e(\"p\",{children:\"The Recovery Loan Scheme, introduced in 2021 to aid COVID recovery, is being extended for an additional two years (until 2026) and has now been renamed the Growth Guarantee Scheme.\"}),/*#__PURE__*/e(\"p\",{children:\"Under the initiative, the Government guarantees 70% of loans up to \\xa32m for companies with a runover of less than \\xa345m.\"}),/*#__PURE__*/e(\"p\",{children:\"This is encouraging for SMBs as they can use funds to invest in the future and ease day-to-day cashflow issues. For best practice working capital management, accountants should consider using a tool that automates AP and AR processes to gain greater cash visibility.\"}),/*#__PURE__*/e(\"h4\",{children:\"Artificial Intelligence Funding\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa37.4m has been allocated to a new AI upskilling fund to help SMBs develop their AI skills.\"}),/*#__PURE__*/e(\"p\",{children:\"No further information is available at present, but it\u2019s possible that accounting and bookkeeping firms can use this for internal purposes.\"}),/*#__PURE__*/e(\"h4\",{children:\"Investment Zones\"}),/*#__PURE__*/e(\"p\",{children:\"To level up business activity across the country, the Government announced six new investment zones: Greater Manchester, Liverpool City Region, North East of England, South Yorkshire, West Midland, and Tees Valley.\"}),/*#__PURE__*/e(\"h3\",{children:\"Is the best yet to come?\"}),/*#__PURE__*/e(\"p\",{children:\"With an election not due to be called until November, there will likely be an Autumn statement first in which the Chancellor will announce further tax-cutting measures that may be maintained if there is a change of Government.\\xa0\"})]});export const richText2=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"Factoring gives companies access to the funds they\u2019re owed today before customers actually pay. It\u2019s a standard and common practice for most small businesses that want to accelerate their \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/why-now-is-the-time-for-f-b-entrepreneurs-to-review-financial-setup-cash-flow\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"cash conversion cycles\"})}),\".\\xa0 \"]}),/*#__PURE__*/t(\"p\",{children:[\"While factoring \",/*#__PURE__*/e(\"em\",{children:\"can\"}),\" be useful, it\u2019s often much better in theory than in practice. The current system in the UK is messy, and there\u2019s a scattered range of providers from \",/*#__PURE__*/e(\"strong\",{children:\"big banks to small specialists with complex terms, little regulation, slow systems and plenty of fees.\"}),\"\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"To help you get your head around it all, we\u2019re looking at what factoring is, its advantages and disadvantages for SMBs and how we see things changing in the (hopefully) near future.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"What is factoring?\"}),/*#__PURE__*/t(\"p\",{children:[\"Factoring lets you \",/*#__PURE__*/e(\"strong\",{children:\"sell unpaid receivables (outstanding invoices) to a third party, for immediate access to cash today.\"}),\" It\u2019s commonly called invoice discounting in the UK, but is also known as debt factoring or invoice financing (although there are slight differences).\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"For companies with long payment terms and in need of short-term liquidity, Factoring is an attractive concept. Yes, you give some of your profit to a third party, \",/*#__PURE__*/e(\"strong\",{children:\"but you get the capital you need straight away.\\xa0\"})]}),/*#__PURE__*/e(\"p\",{children:\"It\u2019s also particularly appealing if you\u2019re not specialised in collections, or if you want a pesky unpaid invoice off your hands\u2013simply pass it over to a third party for them to worry about.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Factoring vs. invoice financing\"}),/*#__PURE__*/e(\"p\",{children:\"For the purposes of this article, we won\u2019t worry too much about the difference between these. Both bring in money against outstanding invoices. But there is a slight distinction:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Factoring: \"}),\"You hand outstanding invoices to a third party in exchange for a percentage of the total value. When each invoice is fulfilled, the third party gives you the remainder, minus a transaction fee. The third party then chases payment from your customer\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Invoice financing: \"}),\"The third party advances you 70-90% of the value of the relevant receivables upfront and the remainder (minus a fee) once the invoice has been paid. It\u2019s essentially a loan, using your accounts receivable as collateral. Crucially, you still handle the collections from clients. And you\u2019re liable if they don\u2019t pay up\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"Which you prefer depends on the provider, your own processes and how you weight up the pros and cons of factoring overall. Let\u2019s look at those now.\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Pros and cons of factoring\"}),/*#__PURE__*/e(\"h3\",{children:\"Advantages\"}),/*#__PURE__*/e(\"p\",{children:\"Just some of the reasons why you might explore factoring include:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Quick access to funds \"}),\"- factoring is helpful if you want or need access to cash sooner than you expect to receive it from your customers\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"More predictable income \"}),\"- you can\u2019t always ensure that a client will pay on time and in full, but you know upfront how much you\u2019ll receive through factoring\\xa0\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"A shorter \"}),/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/why-now-is-the-time-for-f-b-entrepreneurs-to-review-financial-setup-cash-flow\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:/*#__PURE__*/e(\"strong\",{children:\"cash conversion cycle (CCC)\"})})}),\" - you\u2019re turning expected revenue into cash today, which shortens the whole cycle from money out to money in\\xa0\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"The opportunity to outsource collections\"}),\" - you may not have a robust collections process, which can make chasing customers a time-consuming, stressful and exhausting experience. Factoring puts specialists in charge of this\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Customer credit checks \"}),\"- because factoring providers will credit check your customers and review outstanding invoices, you\u2019ll quickly learn whether some clients deserve more scrutiny next time around\"]})})]}),/*#__PURE__*/e(\"h3\",{children:\"Disadvantages\"}),/*#__PURE__*/e(\"p\",{children:\"There\u2019s no such thing as a free lunch.\\xa0 Here are some reasons why factoring might not be right for your business:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Reduced profits \"}),\"- you give a portion of each invoice to the factoring provider, which impacts your profit margin\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"High rates\"}),\" - the actual impact on profits can be significant. In many cases, a line of credit may be a cheaper way to tide you over until customers pay\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"\u201CAll or nothing\u201D criteria\"}),\" - many providers will want to finance all your receivables, rather than a select few. This means profit-reducing fees across the board\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"It takes work \"}),\"- while some factoring services are relatively efficient, it can still involve a lot of work\u2013it\u2019s very rarely a one-click process\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"There are a lot of providers - \"}),\"some are regulated and others are not so it can be hard to know who to trust\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Impact on customer relationships\"}),\" - your customers may not like being chased by third parties. If you\u2019re worried about this, invoice financing may be a better option than factoring\"]})})]}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Factoring for UK small businesses\"}),/*#__PURE__*/e(\"p\",{children:\"So what does the factoring landscape look like in practice? UK small businesses have two main options for factoring: traditional banks and unregulated providers.\"}),/*#__PURE__*/e(\"h3\",{children:\"Traditional banks\"}),/*#__PURE__*/e(\"p\",{children:\"Many large and boutique banks offer factoring services for UK small businesses. The upside is they\u2019re banks - they have clear systems and practices. For the most part, banks are predictable.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Factoring services themselves are not regulated, \"}),\"which can be daunting for small business owners. But banks are, which can be reassuring for the risk-averse.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Plus, you may already be using them for a bank account or loans, so extending to a new service could be simple.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Or you may hate your bank. One of our customers described a situation that involved a mountain of paperwork and three months to set up a simple factoring facility. They slogged through this process, only to have the terms change (for the worse) without any warning.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Unregulated factoring providers\"}),/*#__PURE__*/e(\"p\",{children:\"Technically they\u2019re \u201Cself-regulated,\u201D but factoring companies do come under the supervision of UK Finance, FCA and NACFB - these cover financial services in the UK.\"}),/*#__PURE__*/t(\"p\",{children:[\"These providers exist because the banks fall short in some way. Some may be specifically designed to \u201Cdisrupt\u201D traditional banking services and thus \",/*#__PURE__*/e(\"strong\",{children:\"can be faster, easier to use and more dynamic.\\xa0\"})]}),/*#__PURE__*/t(\"p\",{children:[\"They can also be \",/*#__PURE__*/e(\"strong\",{children:\"specialised in specific industries or business models\"}),\". Or they\u2019ll have tools and apps that integrate with your existing business tech stack.\"]}),/*#__PURE__*/t(\"p\",{children:[\"Finally, some may charge \",/*#__PURE__*/e(\"strong\",{children:\"more competitive rates\"}),\".\"]}),/*#__PURE__*/e(\"p\",{children:\"But in essence, they\u2019re offering a similar service to the traditional banks. Together, these two players represent the factoring options for small UK businesses today.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Factoring is a good (but not yet great) option\"}),/*#__PURE__*/e(\"p\",{children:\"Despite its issues, factoring is a smart and necessary choice for many small UK businesses. It gives you cash today that you\u2019d otherwise wait weeks or months to receive.\"}),/*#__PURE__*/e(\"p\",{children:\"But the system is far from perfect, with some obvious flaws. A more responsive, strategic and ideally automated factoring approach would be better for UK businesses.\"}),/*#__PURE__*/e(\"p\",{children:\"At Mimo, we believe that a few key changes need to happen:\"}),/*#__PURE__*/e(\"h3\",{children:\"1. Make accounts payable and receivable the same process\"}),/*#__PURE__*/t(\"p\",{children:[\"Money in and out are the two sides of the same cash conversion coin. If you can manage them together - within the same tools and process - so you\u2019ll \",/*#__PURE__*/e(\"strong\",{children:\"have complete oversight of your cash flow.\"}),\" And you can quickly generate incoming funds through a service like factoring, take a line of credit or generate cash another way.\"]}),/*#__PURE__*/e(\"p\",{children:\"Ideally, you\u2019d also have the same people handling both ends. Whether that\u2019s the founder or the finance team, it pays to have someone looking at cash flow holistically.\"}),/*#__PURE__*/e(\"h3\",{children:\"2. Allow for real-time factoring\"}),/*#__PURE__*/t(\"p\",{children:[\"Working capital management is best when you can \",/*#__PURE__*/e(\"strong\",{children:\"react dynamically to your current cash flow situation\"}),\". If you know that a large payment will be late - and you need those funds - you should be able to secure funding quickly and easily.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"You could even pre-approve a factoring deal, ready to execute the moment you need it.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Many agreements require you to factor all (or a large share) of your receivables, often far more than you\u2019d prefer. Factoring really needs to be more dynamic, based on need.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"3. Automate as much as possible\"}),/*#__PURE__*/t(\"p\",{children:[\"One reason why real-time factoring is difficult is that \",/*#__PURE__*/e(\"strong\",{children:\"companies are still processing invoices (in and out) manually\"}),\". That means individual email reminders to clients, entering data into accounting tools and reconciling payments line by line.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Automate these steps, speed up the process and focus your energy on optimising cash flow. This is really the only way to have a real-time overview of your cash position.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"4. Defragment these systems\"}),/*#__PURE__*/e(\"p\",{children:\"Today, you have a web of tools and processes to handle money in and out of the business. A factoring agreement is one more moving part.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"Ideally, you\u2019d bring all of these together to be able to \",/*#__PURE__*/e(\"strong\",{children:\"monitor, control and forecast cash flow, and then secure invoice financing or a working capital facility\"}),\" to pay suppliers the moment you need to.\"]}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"How Mimo can help\"}),/*#__PURE__*/t(\"p\",{children:[\"Mimo offers easy access to working capital facilities (credit) for just this reason. Instead of a lengthy wait for a bank loan or factoring agreement, with \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/cash-flow-management\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"MimoFlex\"})}),\", \",/*#__PURE__*/e(\"strong\",{children:\"we advance credit right away\"}),\". So you can pay suppliers now or up to 60 days later - your choice.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"Plus, with our \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-payable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"accounts payable\"})}),\" and \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-receivable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"accounts receivable\"})}),\" tools in the same platform, you\u2019ll have a complete overview of all money coming in and going out.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"With Mimo, you can quickly and securely raise credit against your receivables, with no need for third-party factoring services. And with real-time cash flow insights, you can make instant decisions and optimise your working capital, which is so critical for growing businesses.\"})]});export const richText3=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Working capital continues to go under-examined by most small businesses. But if you know how much cash you need to run the business and then assess how efficiently you deploy this cash, you can start to make smarter, more informed decisions that support and boost growth.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Although it sounds daunting, working out your working capital isn\u2019t overly complicated. In fact, most of the numbers you need are already on your balance sheet. \"}),/*#__PURE__*/e(\"p\",{children:\"Let\u2019s dive in.\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"What is working capital?\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"Your company\u2019s working capital is \",/*#__PURE__*/e(\"strong\",{children:\"the cash required to run the business: assets minus liabilities. \"}),\"That includes inventory, paying staff, rent, utilities, tools and other necessities. What\u2019s left over is profit to invest in new growth initiatives or save for a rainy day.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"Most accountants want to ensure working capital remains positive - that you have more assets than debts. That said, growing businesses can use negative working capital to generate net cash by selling assets faster than they repay liabilities. \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/gymshark-grew-with-negative-cash-conversion-cycle-and-you-can-too\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Gymshark\"})}),\" is a great example of this.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Unlike most of the metrics on this list, working capital is expressed in pounds, dollars, euros, or whichever currency you prefer. It\u2019s not a ratio - it\u2019s the literal cash and assets you have on hand to run your business.\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Why track working capital?\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Working capital isn\u2019t just a measure of financial health, it\u2019s a tool SMBs can use to function efficiently. You can intentionally increase working capital when you know you want to invest heavily or decrease it by paying off debts early.\"}),/*#__PURE__*/e(\"p\",{children:\"Let\u2019s look at a few ways to measure working capital efficiency.\"}),/*#__PURE__*/e(\"h3\",{children:\"9 valuable working capital metrics\"}),/*#__PURE__*/e(\"p\",{children:\"Here are nine working capital metrics that might be helpful for you to explore. The first four are considered crucial - table stakes for any small business hoping to grow or sustain itself efficiently.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"The remaining five are interesting if you want to go further and get more advanced with working capital\u2013companies with larger and more stable balance sheets may get real insight from applying some of these.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"1. Days sales outstanding (DSO)\"}),/*#__PURE__*/e(\"p\",{children:\"How long is the period between a sale taking place and you receiving the cash? This ultimately depends on your payment terms.\"}),/*#__PURE__*/e(\"p\",{children:\"Do you require partial payment in advance? Do you offer a one-month turnaround, or perhaps three months?\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"You also need to chase overdue invoices effectively. These are a fact of doing business and reducing your DSO may require you to re-evaluate your collections process.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"A consistently high DSO - above industry averages - suggests your processes are inefficient and it\u2019s taking too long to receive payments.\"}),/*#__PURE__*/e(\"p\",{children:\"To work out your DSO, use this formula:\\xa0\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"DSO = (accounts receivable/net credit sales) x number of days\"})}),/*#__PURE__*/e(\"p\",{children:\"For example:\"}),/*#__PURE__*/t(\"p\",{children:[\"If your company made \\xa310 million in sales in the past 12 months and you have \\xa32 million outstanding in accounts receivable, your DSO would be\",/*#__PURE__*/e(\"strong\",{children:\" (2,000,00010,000,000) x 365 = 73 days\"})]}),/*#__PURE__*/e(\"p\",{children:\"Whether that\u2019s high or not depends on your industry and your own expectations. But shortening it can\u2019t hurt.\"}),/*#__PURE__*/e(\"p\",{children:\"Don\u2019t forget that individual months or seasons can skew your DSO in the short term. For example, if you have an excellent month of sales, you\u2019ll naturally have more outstanding accounts receivable than usual. This is a good thing. If you can clear those within a reasonable amount of time, you\u2019ve done well. But until you do, your DSO will be higher than normal.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"2. Days payables outstanding (DPO)\"}),/*#__PURE__*/e(\"p\",{children:\"Conversely to DSO, this is the average amount of time it takes to pay your bills. How you manage and optimise this period can create real financial opportunities.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"In general, you want to pay on time,but not early\u2013paying early reduces your working capital because you no longer have the cash.\"}),/*#__PURE__*/e(\"p\",{children:\"The longer you can wait to pay suppliers, the more cash you have available\u2013a high DPO is often a good thing.\\xa0\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"On the other hand, your DPO could be high simply because you can\u2019t afford to pay suppliers. This, of course, is not a good place to be.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"For some business owners, it\u2019s safer and less stressful to pay as soon as possible. Push payments too far down the track and you can end up paying late fees or incurring more debt than you\u2019re comfortable with.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"If you want to optimise working capital, \",/*#__PURE__*/e(\"strong\",{children:\"the goal is a DPO that\u2019s higher than your DSO.\\xa0\"})]}),/*#__PURE__*/e(\"p\",{children:\"You can work out your DPO using this formula:\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"DPO = (average accounts payable/cost of goods sold (COGS)) x 365\"})}),/*#__PURE__*/e(\"p\",{children:\"For example:\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"To generate your \\xa310 million in sales in the past 12 months, you needed to spend \\xa35 million overall - this is your COGS.\"}),/*#__PURE__*/e(\"p\",{children:\"If your starting accounts payable balance was \\xa31.5 million and your AP balance ended at \\xa31 million, then your average accounts payable for the year is \\xa31.25 million.\"}),/*#__PURE__*/e(\"p\",{children:\"Therefore, your DPO would be: (1,250,000/5,000,000) x 365 = 91 days.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"91 is a fairly long DPO. In this example, either you\u2019ve negotiated favourable payment terms with your suppliers, or you may be struggling to pay your debts.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Given the high sales and (relatively) low COGS, it looks like things are going well.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"3. Days of inventory outstanding (DIO)\"}),/*#__PURE__*/e(\"p\",{children:\"This measures how long the average item remains unsold in your inventory and is a good way of estimating your ability to generate cash quickly.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Because inventory is an asset but not cash, the faster you can sell items, the better.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"DIO can be applied to the entire inventory, or to specific products. Clearly, if certain items have a much longer DIO than the overall average, they\u2019re proving harder to sell. Stocking fewer of these products in reserve can help you avoid tying up working capital.\"}),/*#__PURE__*/e(\"p\",{children:\"You can work out your DIO using this formula:\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"DIO = (average inventory / COGS) x 365\"})}),/*#__PURE__*/e(\"p\",{children:\"For example:\"}),/*#__PURE__*/e(\"p\",{children:\"You have \\xa3150,000 in stock at the beginning of the year and \\xa3100,000 left at the end. This makes your average inventory \\xa3125,000. Your COGS is still \\xa35 million.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Your DIO is: (125,000/5,000,000) x 365 = 9 days.\"}),/*#__PURE__*/e(\"p\",{children:\"A DIO of nine days is another indicator that this business is very efficient with working capital.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"But the next metric will give you the full picture.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"4. Cash conversion cycle (CCC)\"}),/*#__PURE__*/e(\"p\",{children:\"Your cash conversion cycle is the number of days it takes your company to convert money out into money coming back in.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"The goal is to have this number be as small as possible - even negative. In fact, a negative cash conversion cycle suggests serious growth.\"}),/*#__PURE__*/e(\"p\",{children:\"Your CCC is arguably the most important working capital metric. Focus on getting this number down, and your business should soar.\"}),/*#__PURE__*/e(\"p\",{children:\"To calculate your CCC, add your DSO (how quickly your customers pay) to your DIO (days in inventory), then subtract your DPO (how quickly you pay suppliers):\\xa0\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"CCC = DSO + DIO - DPO\"})}),/*#__PURE__*/e(\"p\",{children:\"For example:\"}),/*#__PURE__*/e(\"p\",{children:\"Based on the calculations from the previous three metrics, you have:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"A DSO of 73 days\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"A DPO of 91 days\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"A DIO of 9 days\"})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"CCC: 73 + 9 - 91 = -9 days\"})}),/*#__PURE__*/e(\"p\",{children:\"In other words, money is coming in faster than it\u2019s going out. Thanks to you supplier payment terms, you should be able to fund new growth.\"}),/*#__PURE__*/e(\"h4\",{children:\"5. Current ratio\"}),/*#__PURE__*/e(\"p\",{children:\"Current ratio compares your current assets with your current liabilities. Sometimes known as your \u201Cworking capital ratio,\u201D it\u2019s a very clear way to measure company liquidity.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"\u201CCurrent\u201D assets in this case means assets that are likely to be liquidated in the next year - that includes cash, receivables and inventory.\"}),/*#__PURE__*/e(\"p\",{children:\"Current ratios are best considered by comparing them with the industry average. A low ratio suggests your business may be in financial distress or approaching default, while a high ratio indicates your business has good liquidity.\"}),/*#__PURE__*/e(\"p\",{children:\"Your current ratio = current assets / current debts\"}),/*#__PURE__*/e(\"p\",{children:\"For example:\"}),/*#__PURE__*/e(\"p\",{children:\"If you have current assets worth \\xa35 million, and current debts worth \\xa34 million, your current ratio is 1.25.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"A ratio above 1 means you have the assets available to pay off your debts. For most small businesses, this is a healthy place to be. But you may be comfortable with a ratio below 1 where you\u2019re borrowing to invest in programs or products that you\u2019re confident will bring a strong return.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"6. Quick ratio\"}),/*#__PURE__*/e(\"p\",{children:\"Like the current ratio, the quick ratio is a measure of liquidity that pits assets against liabilities. But in this formula, you only use your most liquid assets: cash, accounts receivable, cash equivalents and securities. These assets can be used to pay off debts quickly.\"}),/*#__PURE__*/e(\"p\",{children:\"This notably excludes inventory, as those goods haven\u2019t been sold yet.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Again, your quick ratio will ideally be above 1. This means you\u2019re ready to pay off debts whenever required.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Quick ratio = \u201Cquick\u201D assets / current liabilities\"}),/*#__PURE__*/e(\"p\",{children:\"For example:\"}),/*#__PURE__*/e(\"p\",{children:\"If your company has \\xa34 million in cash, receivables and securities, and still has \\xa34 million in debts. Your ratio is exactly 1.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"7. Accounts receivable turnover\"}),/*#__PURE__*/e(\"p\",{children:\"This ratio represents the number of times in a stated period that your company collected its average AR balance. It\u2019s a direct measure of how efficient your receivables process is.\\xa0\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"AR turnover = net credit sales / average accounts receivable\"}),/*#__PURE__*/e(\"p\",{children:\"Note: Net credit sales excludes up-front cash payments - these aren\u2019t receivables. Net sales also factors in discounts and other incentives. While these help get cash in more quickly, they also eat into profit. There\u2019s a point where this becomes inefficient, which will be reflected in your ratio.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"For example:\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Your daily average sales are (\\xa310,000,000/365 = \\xa327,397. Let\u2019s assume that all of these are receivables and no discounts were offered.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"You had \\xa31.5 million in accounts receivable outstanding at the start of the year, and \\xa31 million at the end. The daily average is therefore \\xa33,425 (1,250,000/365).\"}),/*#__PURE__*/e(\"p\",{children:\"AR turnover ratio is 27,397/3,425 = 8. This means you convert receivables to cash 8 times per year.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Whether 8 is a high ratio again depends on your industry and past performance, but your overall goal should be to keep increasing that number.\"}),/*#__PURE__*/e(\"p\",{children:\"Note: Whether you use daily figures (as above), monthly, or yearly, the turnover ratio should be the same.\"}),/*#__PURE__*/e(\"h4\",{children:\"8. Inventory to working capital ratio\"}),/*#__PURE__*/e(\"p\",{children:\"This shows you the amount of total working capital dedicated to unsold stock. Generally speaking, a ratio of less than 1 implies that your business is highly liquid - that you turn inventory into cash efficiently.\"}),/*#__PURE__*/e(\"p\",{children:\"The less working capital you have tied up in unsold inventory, the better.\"}),/*#__PURE__*/e(\"p\",{children:\"Inventory to working capital = Inventory/working capital\"}),/*#__PURE__*/e(\"p\",{children:\"For example:\"}),/*#__PURE__*/e(\"p\",{children:\"Your balance sheet shows \\xa3800,000 spent on inventory (an asset). You have \\xa3200,000 in accounts receivable, thus your total assets are \\xa31 million.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"If your liabilities are \\xa3500,000, your working capital would also be \\xa3500,000.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Your inventory to working capital ratio is, therefore: 800,000/500,000 = 1.6\"}),/*#__PURE__*/e(\"p\",{children:\"1 is where you ideally want this ratio to land. A ratio of 1.6 suggests that more working capital is tied up in inventory than is ideal over the long term. When the ratio is consistently above 2, you need to address your inventory turnover strategy.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"9. Working capital turnover\"}),/*#__PURE__*/e(\"p\",{children:\"This metric shows how effectively you deploy working capital to generate sales and revenue. In other words, your money out leads directly to more money in.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"A higher working capital turnover ratio is generally better - this shows that investments are paying off. A low ratio might suggest that you\u2019re holding too much in inventory, or that your sales motions are inefficient.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Working capital turnover = net annual sales/average working capital\"}),/*#__PURE__*/e(\"p\",{children:\"For example:\"}),/*#__PURE__*/e(\"p\",{children:\"Again, let\u2019s use \\xa310 million in annual sales and \\xa32,500,000 as your average working capital. 10,000,000/2,500,000 gives a working capital turnover ratio of 4:1. So for every dollar of working capital spent, you receive four in return.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"This shows a highly efficient use of working capital.\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"Your turn to take working capital seriously\"}),/*#__PURE__*/e(\"p\",{children:\"Most small businesses won\u2019t have a close eye on every one of the metrics above - that\u2019s probably overkill. However, the first four on this list are no-brainers, so we recommend calculating them regularly.\"}),/*#__PURE__*/e(\"p\",{children:\"Cash conversion cycle and inventory turnover (DIO) are also seen as two of the most valuable growth drivers. The more you can optimise these and avoid tying up working capital, the better.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Choose the metrics that make the most sense for your business and create processes to regularly track and measure them. Even better, choose dashboard tools that give you an instant look, so you don\u2019t have to live inside spreadsheets 24/7.\"}),/*#__PURE__*/t(\"p\",{children:[\"To help get you started, we\u2019ve created a handy\",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/growth-tools/working-capital-calculator\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\" working capital calculator\"})}),\". Simply download the editable sheet and populate it with your numbers to crunch out some of these key measurables.\\xa0\"]})]});export const richText4=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Many SMB owners don\u2019t pay close enough attention to their working capital situation. Founders may either it too hard to get a clear overview of it, or that it's top distracting. But that\u2019s a big mistake.\"}),/*#__PURE__*/e(\"p\",{children:\"Here\u2019s why you should take working capital management seriously, and six clear ways to do it.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h4\",{children:\"What is working capital?\"}),/*#__PURE__*/e(\"p\",{children:\"Working capital is simply the cash you have available to run your business day to day: your assets minus liabilities. This is the money dedicated to core operations: sourcing materials, selling products, paying staff and keeping the lights on.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"It\u2019s a measure of company liquidity, and one way for SMBs to measure their financial health.\"}),/*#__PURE__*/e(\"p\",{children:\"Working capital is either positive or negative:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Positive\"}),\" \",/*#__PURE__*/e(\"strong\",{children:\"working capital\"}),\" means you have enough cash available to fund your current activities\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Negative working capital\"}),\" means you have less cash available than you need - your liabilities are higher than your assets\"]})})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Note\"}),\": Higher (more positive) isn\u2019t always better. Too much working capital might suggest that you have too much inventory, or that you\u2019re underinvesting in growth.\\xa0Negative working capital can also be a great thing when managed well \u2013 you can make your outstanding payables (liabilities) work for you. We\u2019ll see this in action shortly.\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h4\",{children:\"Why should you focus on working capital?\"}),/*#__PURE__*/e(\"p\",{children:\"Most SMB owners don\u2019t understand or pay close attention to their working capital position. You might see this as one in a list of obscure finance metrics better left to the experts. Or you might be busy thinking about the more fundamental challenges of building your company.\"}),/*#__PURE__*/t(\"p\",{children:[\"But running a thriving business is more than just the total amount of cash going in and out each month. The timing is also critical. And you can \",/*#__PURE__*/e(\"strong\",{children:\"use your assets (and liabilities) to stimulate growth and run a highly efficient SMB\"}),\".\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h4\",{children:\"6 ways to make working capital work for you\"}),/*#__PURE__*/e(\"p\",{children:\"Whether you need to increase or decrease working capital depends on your growth trajectory. When times are good, you shouldn\u2019t sit on a pile of unused cash.\\xa0But as growth slows and the margins get tighter, you need smart ways to free up funds and remain ready to pay off liabilities when required.\"}),/*#__PURE__*/e(\"p\",{children:\"Let\u2019s look at examples of both scenarios.\"}),/*#__PURE__*/e(\"h5\",{children:\"1. Review (and enforce) your payment terms \"}),/*#__PURE__*/t(\"p\",{children:[\"Getting paid is a real issue for small businesses. One study found that \",/*#__PURE__*/e(a,{href:\"https://www.nerdwallet.com/uk/business/late-payment/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"55% of UK SMBs\"})}),\" still have outstanding invoices from the previous tax year. \"]}),/*#__PURE__*/t(\"p\",{children:[\"If that sounds familiar, you may need to \",/*#__PURE__*/e(\"strong\",{children:\"address your accounts receivable process\"}),\".\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Days sales outstanding (DSO) measures how many days it typically takes you to be paid for an order. And in the vast majority of cases, a lower DSO is better for small businesses.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"A few ways to decrease your days sales outstanding\"}),\":\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Make it as easy as possible for customers to pay in full, up front. \"}),\"These have a DSO of 0 days, and you have money in the bank immediately\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Review payment conditions for future invoices. \"}),\"Can you go from 90 days to 60 days? From 60 to 30?\\xa0\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Consider early payment discounts. \"}),\"Over-discounting will likely hurt in the long term, but targeted, timely discounts can help when you\u2019re short on cash\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Charge fees or interest for late payments.\\xa0\"}),\"Not only will this deter late-payment, but will also bring in some helpful extra cash if payment terms aren't met\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Get help with your collections process. \"}),\"Effective collections require experience, so make sure you have good people chasing up late payments\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"In many cases, simply paying attention to that DSO number and ensuring that clients actually do pay on time makes a big difference.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"2. Extend payment terms with suppliers\"}),/*#__PURE__*/e(\"p\",{children:\"For inventory-heavy companies in industries like FMCG, logistics, and construction, this is a great option. But it potentially applies to any goods business with regular suppliers.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"The longer you can wait to pay back suppliers, the more cash you can deploy today\"}),\". And whether you have 30 days, 60 days, or more, that repayment window is essentially an interest-free loan.\"]}),/*#__PURE__*/e(\"p\",{children:\"Suppose you have a 30-day repayment window with a key supplier, but you sell inventory within 15 days. That liability - the debt - technically reduces your working capital. But you have 15 days until the debt is due, which means you can use those funds however you need.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/gymshark-grew-with-negative-cash-conversion-cycle-and-you-can-too\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Gymshark used a negative cash conversion cycle\"})}),\" to become a billion-pound company. They consistently sold products within the supplier repayment window, and could put the extra cash towards growing further.\"]}),/*#__PURE__*/e(\"p\",{children:\"This works brilliantly while the company is growing. But it becomes dangerous during a rough spell or as business dries up. So as with all these working capital steps, timing is everything.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"3. Streamline inventory management\"}),/*#__PURE__*/e(\"p\",{children:\"Inventory is a company asset. And because working capital is assets minus liabilities, more assets means a more positive working capital position. Sounds good, right?\"}),/*#__PURE__*/e(\"p\",{children:\"Not exactly. Liquidity also matters, and until you sell those goods, you can\u2019t use the cash.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"Look closely at your working capital to inventory ratio: the amount of working capital tied up in unsold inventory. \",/*#__PURE__*/e(\"strong\",{children:\"The more unsold inventory you have at one time, the less disposable working capital you have\"}),\".\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"How to improve this ratio:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Keep a detailed inventory\"}),\" and only stock up on what you need. Avoid making set, standard orders, and try to procure what you need when you need it\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[\"Taking this further, \",/*#__PURE__*/e(\"strong\",{children:\"develop a \u201CJust in time\u201D (JIT) inventory approach\"}),\": acquire goods from suppliers as close as possible to when you need them, not before. This requires really solid processes and the ability to forecast demand accurately. Here\u2019s \",/*#__PURE__*/e(a,{href:\"https://www.netsuite.com/portal/resource/articles/inventory-management/just-in-time-inventory.shtml\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"a helpful explainer from NetSuite\"})})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Forecast demand\"}),\" as accurately as possible, and look for seasonality. Are there certain holidays, times of year, or other externalities that determine demand?\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Categorise product lines\"}),\" by demand. Certainly don\u2019t stock up on high-cost, hard to sell items that you know will sit there for long periods\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"You\u2019ll never achieve perfect inventory turnover. But try to avoid having items sit there, tying up working capital.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"4. Use early payment discounts offered by suppliers\"}),/*#__PURE__*/e(\"p\",{children:\"We saw above the value of a negative cash conversion cycle for growth. Here, we\u2019re taking the opposite approach and repaying suppliers early, in exchange for a discount.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"While this decreases available cash in the immediate term, it can smooth out cash flow if timed well, and unlock higher margins in your business.\"}),/*#__PURE__*/e(\"p\",{children:\"Getting really clever, you could even use one supplier\u2019s long repayment terms to receive a discount with another:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Purchase goods from Supplier A with a 90-day repayment window\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Sell that inventory within 30 days.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Purchase goods from Supplier B (5% discount for up-front payment)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Sell that inventory within 60 days and repay supplier A.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"In reality, it\u2019s not that clear cut, and you\u2019ll have lots of supplier cycles running in tandem. But you get the idea.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Finally, if you offer your own early payment discounts to clients, you could offset these with discounts from suppliers.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"5. Bridge gaps with financing\"}),/*#__PURE__*/e(\"p\",{children:\"When you need to increase cash now, financing may be the only option.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"Your options for a short-term \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/line-of-credit-the-small-business-guide\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"line of credit\"})}),\":\\xa0\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Bank loans\"}),\". Borrow up to a predetermined amount, pay it back, and continue to borrow as needed\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/advantages-disadvantages-of-factoring-for-uk-smbs\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:/*#__PURE__*/e(\"strong\",{children:\"Factoring\"})})}),/*#__PURE__*/e(\"strong\",{children:\" (or invoice discounting)\"}),\". Obtain credit against your outstanding accounts receivable, or simply sell on those outstanding invoices. You can even have the bank handle collections if getting clients to pay is a real struggle\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Unsecured working capital facilities\"}),\". Platforms like Mimo offer businesses quick access to credit with no collateral required. This is much faster and more flexible than factoring or a bank loan\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"The best option usually depends on the terms offered, whether you already have loans in place (and can extend easily), and how quickly you need the funds.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"We recommend unsecured working capital facilities when they\u2019re built into your accounts payable tools, so there are no additional meetings and contracts to sign.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"6. Use the right tech and tools\"}),/*#__PURE__*/e(\"p\",{children:\"The chief reason why SMB owners haven\u2019t mastered working capital is they just don\u2019t have the right tools. Ideally, you want to achieve two things:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Automate your accounts payable and receivable processes\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Get clear visibility over money coming in and going out\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"Here are \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/7-tools-to-master-your-company-cash-flow\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"seven good tools\"})}),\" that give you clarity about how and when money enters or leaves your business.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Automate AP & AR\"})}),/*#__PURE__*/e(\"p\",{children:\"Any repetitive, transactional processes are best automated. This reduces errors and speeds everything up.\"}),/*#__PURE__*/e(\"p\",{children:\"In both cases, start by digitising the whole process. There should be no paper invoices going in or out, and no trips to the post office.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"For payables, pay them in bulk wherever possible\"}),\". Avoid making a manual bank run for each invoice. This \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/streamline-supplier-payments-all-you-need-to-know\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"streamlines supplier payments\"})}),\" and ensures you don\u2019t make mistakes or miss anything. And you can schedule transactions to maximise cash in your account.\"]}),/*#__PURE__*/t(\"p\",{children:[\"For receivables, \",/*#__PURE__*/e(\"strong\",{children:\"send out invoices, reminders and collections notices automatically\"}),\". This ensures you don\u2019t miss out on cash and have a higher chance of being paid on time.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Get visibility over cash \"})}),/*#__PURE__*/e(\"p\",{children:\"Your ultimate goal is a clear overview of money in and money out of the business. With this, you know when to use any of the six ideas above.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Ideally you\u2019ll have a cash flow forecast to predict when you\u2019ll have more cash available (and can invest), and when you need to use the methods above to increase it.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"Crucially,\",/*#__PURE__*/e(\"strong\",{children:\" visibility needs to be in real time - a live view of your situation today\"}),\". If you\u2019re always waiting until the end of the month, you can\u2019t respond quickly to changes.\\xa0 \"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h4\",{children:\"Become a working capital wizard\"}),/*#__PURE__*/e(\"p\",{children:\"As stated at the top of this article, many SMB owners simply don\u2019t think about working capital - at least not as a tool to use strategically. But this is a mistake, and can inhibit company growth and performance.\"}),/*#__PURE__*/e(\"p\",{children:\"We\u2019ve seen six smart ways to optimise working capital. But the key takeaways really boil down to these:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Understand your working capital situation in real time\"}),\". This requires visibility over money coming in and going out. Tools like \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Mimo can really help\"})})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Look ahead and build projections\"}),\". These don\u2019t need to be overly complex. You simply need to be able to see how working capital flows over time, to ensure you don\u2019t get into trouble or miss out on opportunities\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Strike when the chance arises\"}),\". This could mean growing through negative working capital, or paying off debts early to reduce their burden and access discounts\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"Smart working capital management sets high-level SMBs apart. Take your place as an industry leader with a better grip on cash.\"})]});export const richText5=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Cash flow is the lifeblood of any business. Managing it well is crucial for survival and growth.\"}),/*#__PURE__*/e(\"p\",{children:\"A staggering 82% of businesses fail due to poor cash flow management, highlighting the stark truth about the critical role it plays in the health and longevity of a company.\"}),/*#__PURE__*/e(\"p\",{children:\"At Mimo, we see firsthand how mastering cash flow can be the difference between thriving and merely surviving. For SMBs, accountants, and fractional FDs, understanding and managing this aspect effectively is not just beneficial; it's imperative.\"}),/*#__PURE__*/e(\"h4\",{children:\"Better tools to manage cash flow\"}),/*#__PURE__*/e(\"p\",{children:\"Luckily, there are better tools than ever available, helping SMBs, and the ecosystem of financial professionals supporting them, manage cash flow better.\"}),/*#__PURE__*/e(\"p\",{children:\"Here are seven transformative tools that can help you not just manage, but also master your company's cash flow.\"}),/*#__PURE__*/t(\"h4\",{children:[\"1. \",/*#__PURE__*/e(a,{href:\"www.trezy.io\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Trezy\"})}),\": your cash flow analyst \"]}),/*#__PURE__*/e(\"p\",{children:\"Trezy is like having a financial analyst dedicated to your cash flow! Just connect your bank account and will give you a comprehensive view of your financial health, making complex analysis simple. From benchmarking your margins to understanding your cash balance trends, Trezy gives you cash flow insights at the click of a button.\"}),/*#__PURE__*/t(\"h4\",{children:[\"2. \",/*#__PURE__*/e(a,{href:\"https://agicap.com/en/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Agicap\"})}),\": multi-entity cash flow management \"]}),/*#__PURE__*/e(\"p\",{children:\"Agicap stands out for its real-time cash flow tracking for more complex organisations. It's particularly strong at understanding cash flow across multiple entities, something larger companies often end up managing in Excel sheets. Agicap is great for aggregating data and making decisions accordingly.\"}),/*#__PURE__*/t(\"h4\",{children:[\"3. \",/*#__PURE__*/e(a,{href:\"https://www.fathomhq.com/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Fathom\"})}),\": deep dive into reports and forecasts \"]}),/*#__PURE__*/e(\"p\",{children:\"Fathom is for those who love diving deep into their numbers. And we mean deep. Fathom offers a granular analysis of your financial data, across anything from business performance insights to custom management reports and cash flow forecasts. Fathom is a favourite among the sophisticated accountants we work with at Mimo.\"}),/*#__PURE__*/t(\"h4\",{children:[\"4. \",/*#__PURE__*/e(a,{href:\"https://floatapp.com/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Float\"})}),\": cash flow understanding for project-based work \"]}),/*#__PURE__*/e(\"p\",{children:\"Float is the most popular cash flow forecasting software for Xero. It's great for simplified, intuitive cash flow forecasting, turning what's often a complex, time-consuming process into a more intuitive experience. It\u2019s particularly useful for project-based businesses looking to build cash flow scenarios and stay ahead of shortages. \"}),/*#__PURE__*/t(\"h4\",{children:[\"5. \",/*#__PURE__*/e(a,{href:\"https://upflow.io/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Upflow\"})}),\": control centre for your accounts receivable \"]}),/*#__PURE__*/e(\"p\",{children:\"Upflow transforms how you handle accounts receivable by automating the tedious but crucial process of tracking and managing incoming payments. With clear overviews of aged receivables, automated dunning processes and payment portals making it easier for customers to pay you, Upflow aims to help you get paid faster and reduce negative cash flow impacts.\"}),/*#__PURE__*/t(\"h4\",{children:[\"6. \",/*#__PURE__*/e(a,{href:\"https://www.chaserhq.com/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Chaser\"})}),\": the gentle receivables reminder \"]}),/*#__PURE__*/e(\"p\",{children:\"Chaser is a UK-based team with a trusted tool for automating your accounts receivable processes. It gently nudges your clients for payments, ensuring that your AR doesn't turn into a game of hide and seek. Having a tool like Chaser is like having a polite but persistent virtual assistant who ensures your cash flow doesn\u2019t stall. Don\u2019t miss their functionality of doing credit checks on future and current customers, to stay ahead of any bad debt risks.\"}),/*#__PURE__*/t(\"h4\",{children:[\"7. \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Mimo\"})}),\": understand and control money-in, money-out \"]}),/*#__PURE__*/e(\"p\",{children:\"At Mimo, we believe that understanding and controlling your cash flow should be a natural, easy part of the day-to-day running of any small business. That's why we focus on building an end-to-end control centre for your money-in, money-out.\"}),/*#__PURE__*/t(\"p\",{children:[\"With easy-to-use \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-payable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"accounts payable\"})}),\" and \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-receivable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"accounts receivable\"})}),\" automation, cash flow insights and a \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/cash-flow-management\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"working capital facility\"})}),\", Mimo gives you all the insights and tools you need to control cash flow in a single interface. \"]}),/*#__PURE__*/e(\"h4\",{children:\"There's more to it than just software\"}),/*#__PURE__*/e(\"p\",{children:\"While important, remember tools are just part of the equation. The real magic happens when you combine these technologies with human insight. In our journey with Mimo, embracing the synergy between the business and our accountant/FD has always been the main driver of success.\"}),/*#__PURE__*/e(\"p\",{children:\"Mastering your company's cash flow is a continuous journey. Embrace these tools, blend them with your unique business processes, and reach out to your peers to learn how they manage them. If you\u2019re looking for accountants/FDs to help you, get in touch and we'll help find one suitable for your needs.\"}),/*#__PURE__*/t(\"p\",{children:[\"If you want to learn more, don't hesitate to book a time to chat with us \",/*#__PURE__*/e(a,{href:\"https://meetings-eu1.hubspot.com/felix-lundqvist\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"here\"})}),\". \"]})]});export const richText6=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"h4\",{children:\"Time is our scarcest resource\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"As a fractional CFO or part-time FD, balancing your time effectively is vital, but can be incredibly difficult to do. \"}),/*#__PURE__*/t(\"p\",{children:[\"The challenge is compounded when you consider that the\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.brinknews.com/cfos-struggle-with-the-work-life-balance/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"average fractional CFO works 60+ hours a week,\"})}),\"\\xa0with most of this time consumed by transactional tasks. A pymnts.com report reveals that a fractional CFO spends\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.pymnts.com/cfo/2023/report-cfo-tenure-shrinks-responsibilities-grow/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"60% of their time on such tasks\"})}),\", leaving a\\xa0mere 25% for strategic tasks as per \",/*#__PURE__*/e(a,{href:\"https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Strategy%20and%20Corporate%20Finance/Our%20Insights/Strategy%20and%20corporate%20finance%20special%20collection/Final%20PDFs/McKinsey-Special-Collections_RoleoftheCFO.ashx\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"McKinsey's insights\"})}),\".\\xa0\"]}),/*#__PURE__*/e(\"h6\",{children:/*#__PURE__*/e(\"em\",{children:'\"Time is the scarcest resource and unless it is managed nothing else can be managed.\" - Peter Drucker'})}),/*#__PURE__*/e(\"h4\",{children:\"Time-bending without the science fiction: the potential of financial automation \"}),/*#__PURE__*/t(\"p\",{children:[\"Given these figures, it's not surprising that\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.growthforce.com/blog/why-cfos-are-looking-to-automate-more\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"80% of CFOs believe automation can boost their productivity\"})}),\". Automation can handle those transactional tasks effectively, freeing up time for more strategic responsibilities. Yet, a\\xa0worrying statistic shows that only\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.prnewswire.com/il/news-releases/datarails-survey-cfos-suffer-the-most-intensive-manual-work-in-the-c-suite-301525683.html\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"39% of CFOs believe they have the tools necessary to manage their workload\"})}),\".\\xa0\"]}),/*#__PURE__*/e(\"h4\",{children:\"Delivering more in less time\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"Imagine being able to 'bend time' as a fractional CFO, creating an ideal balance between strategic planning and routine financial tasks. By harnessing the neuroscience behind flow techniques as well as innovative financial technologies like\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Mimo\"})}),\", this seemingly impossible feat becomes reality.\"]}),/*#__PURE__*/e(\"p\",{children:\"You can significantly cut down on time-consuming transactional tasks, freeing up valuable hours to focus on more impactful ones, providing strategic value to your clients and solving cashflow speedbumps. You'll also reclaim precious personal hours - time you can invest in acquiring new clients, or perhaps more importantly, in well-deserved downtime. This is the art and science of time-bending as a fractional CFO - a game-changer in how you manage your work and deliver value.\"}),/*#__PURE__*/t(\"h4\",{children:[/*#__PURE__*/e(\"br\",{}),\"The basic neuroscience of flow for fractional CFOs\"]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"900\",src:\"https://framerusercontent.com/images/oCyvmO4q37YWgwzOZzr2abrSqRA.png\",style:{aspectRatio:\"2400 / 1800\"},width:\"1200\"}),/*#__PURE__*/t(\"p\",{children:[\"When we talk about 'flow', we're not discussing the ebb and tide of the ocean or the steady stream of a river.\\xa0\",/*#__PURE__*/e(a,{href:\"https://time.com/56809/the-science-of-peak-human-performance/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Flow neuroscience is the study of optimal human performance.\"})}),\"\\xa0The powerful psychological state where attention, engagement and productivity meet in perfect harmony. The concept was introduced by psychologist Mihaly Csikszentmihalyi (pictured above during his TedX Talk), and it's becoming a competitive advantage for business leaders globally, demonstrated by a growing number of landmark studies.\\xa0\",/*#__PURE__*/e(\"strong\",{children:\"McKinsey\"}),\"\\xa0found a\\xa0500% increase\\xa0in productivity by executives who regularly access flow states and the\\xa0\",/*#__PURE__*/e(\"strong\",{children:\"University of Sydney\"}),\"\\xa0found subjects to have a\\xa0430% increase\\xa0in creative problem-solving!\"]}),/*#__PURE__*/e(\"p\",{children:\"We've all experienced the sensation. Time seems to stand still, distractions fade into the background, your concentration is laser-focused, and the work just... flows.\\xa0\"}),/*#__PURE__*/e(\"h6\",{children:/*#__PURE__*/e(\"em\",{children:\"\\\"In a flow state, people are completely absorbed in an activity, especially an activity which involves their cognitive abilities. During this 'optimal experience,' they feel 'strong, alert, in effortless control, unselfconscious, and at the peak of their abilities\\\" - Mihaly Csikszentmihalyi.\\xa0\"})}),/*#__PURE__*/e(\"h4\",{children:\"Leveraging 'flow' states as a fractional CFO\"}),/*#__PURE__*/e(\"p\",{children:\"Fractional CFOs face the Herculean task of balancing numerous roles and responsibilities across various organisations, all within the confines of time that seem to slip through their fingers. However, what if you could manipulate the perception of time, making it seem as though you have more than you actually do?\"}),/*#__PURE__*/e(\"p\",{children:\"The complete suite of techniques from flow neuroscience research is vast, necessitates constant practice and surpasses the limits of this article. However, there are three quick, highly effective strategies that fractional CFOs can implement to create an immediate and substantial impact on their daily productivity:\"}),/*#__PURE__*/e(\"h4\",{children:\"Eliminate waste and reduce cognitive load\"}),/*#__PURE__*/e(\"p\",{children:\"Optimising your work life requires a ruthless examination of your daily activities. The first step is to sift through the clutter, to eliminate the superfluous and thereby reduce your cognitive load. As the adage goes, 'the best code is no code':\"}),/*#__PURE__*/t(\"ol\",{style:{\"--framer-font-size\":\"16px\",\"--framer-text-alignment\":\"start\",\"--framer-text-color\":\"rgb(33, 37, 41)\",\"--framer-text-decoration\":\"none\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"List the activities that add value to your life, consider the trade-offs, and eliminate the rest. Start this process by drafting a comprehensive list of activities that you value, which might encompass strategic work, mentoring, coaching, family time, daily exercise, socialising with friends, travelling, and more.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Categorise any regular activity that is not on this list into Type 1 Waste - necessary actions that lack value such as cooking, commuting, data entry, payroll, payment runs, chasing supplier payments etc; or Type 2 Waste - unnecessary actions that also lack value, like incessant news updates, scrolling on social media, binging Netflix, or low-value social interactions.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Select the top five time-consuming activities from your Type 2 Waste and eliminate them entirely for the next four weeks.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Choose the top five from Type 1 Waste and delegate, systematise, standardise, batch, and automate them using tools like Mimo.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"By undertaking this process, what will remain is time -\\xa0time that you can dedicate to activities that are truly valuable and meaningful to you. After all, isn't that the fundamental purpose of time management?\"}),/*#__PURE__*/e(\"h4\",{children:\"Mapping your calendar and powering down\"}),/*#__PURE__*/e(\"p\",{children:\"Secondly, imagine that you have a series of cascading goals, yearly, quarterly, monthly, and weekly, meticulously planned and ready to be achieved. Create a ritualistic time, say every Sunday at 6pm, for your weekly strategy session:\"}),/*#__PURE__*/t(\"ol\",{style:{\"--framer-font-size\":\"16px\",\"--framer-text-alignment\":\"start\",\"--framer-text-color\":\"rgb(33, 37, 41)\",\"--framer-text-decoration\":\"none\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Sit down to review this goal stack, aligning weekly objectives with monthly ones and moving priorities around as required, setting the tone for the week ahead.\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Establish three weekly priorities that must get done no matter what.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Then break each day down into one to three priorities for the day and any other less important daily goals.\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Plot this task roadmap onto your calendar, outlining the minute steps needed to complete each task.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"This pre-emptive planning completely eliminates the need to ponder about the task or the method to achieve it, allowing you to dive straight in and access a state of flow. However, flexibility is key. Ensure you have ample room for shifting priorities, set recurring calendar blocks for essential activities like reading, learning, exercising, and deep work. Eliminate all distractions like Slack or phone calls, and consolidate time-consuming activities like checking emails or Slack to a twice-daily batched schedule. \\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"As the day progresses and your productivity soars, you can establish a defined end time for each day, with the preceding thirty minutes blocked out for your power-down ritual. Powering down simply means you clear out pending tasks, tie up loose ends, revisit your weekly goals, and fine-tune your daily objectives and priorities for the forthcoming day. Adjust your calendar accordingly and prepare all tasks for the next day to minimise systemic friction. And just like that, your mind is cleared and primed to enjoy personal time in the evening, ready to slip into a state of flow the very next day. The science of 'time-bending' as a fractional CFO has never been more seamless and efficient.\"}),/*#__PURE__*/e(\"h4\",{children:\"Embracing the flow cycle\"}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"500\",src:\"https://framerusercontent.com/images/K69emfFL61OrNsNKLfKn1ZYDdkQ.png\",style:{aspectRatio:\"1000 / 1000\"},width:\"500\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h6\",{children:/*#__PURE__*/e(\"em\",{children:'\"The ability to perform deep work is becoming increasingly rare and at the same time it is becoming increasingly valuable in our economy.\" - Cal Newport'})}),/*#__PURE__*/e(\"p\",{children:\"The game is rigged and we are all constantly losing the battle for our attention from an army of 5,000 distinct marketing tools designed to capture it. Perma-distraction is the new normal, and it has been unequivocally proven that multi-tasking or task-switching leads to reduced outcomes.\"}),/*#__PURE__*/e(\"p\",{children:\"Focus is prolonged attention and flow can only occur with prolonged focus, thus, distraction is the enemy of flow but spikes our dopamine levels. By understanding and embracing your brain's flow cycle you can fall into those timeless deep work phases more easily:.\"}),/*#__PURE__*/e(\"p\",{children:\"Here are some tips:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-text-alignment\":\"start\",\"--framer-text-color\":\"rgb(33, 37, 41)\",\"--framer-text-decoration\":\"none\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Preserve your attention span by eliminating disruptions and self-imposed distractions e.g. move your phone out of sight, turn off all e-mail or Slack notifications, close the door so the dog can't get in etc\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Once you're 10 to 15 minutes into a longer task, you'll notice that your brain starts to doubt whether this is the most important task, that you should check your phone, get a coffee...anything to get a tiny dopamine hit. Resist!\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Resist by exaggerating what the outcome will be if you distract yourself, e.g. it would ruin your whole day, or take 10 deep breaths to activate your metacognition and struggle through\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Flow sits on the other side and a period of prolonged focus will allow you to achieve it if you resist and slip into timeless cognitive performance\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"18.5px\",\"--framer-line-height\":\"32px\"},children:/*#__PURE__*/e(\"p\",{children:\"Lastly, allow yourself to recover and slowly reduce your need for stimulation, e.g. go walk in nature, read, connect socially, exercise and do it all without checking your phone\"})})]}),/*#__PURE__*/e(\"h4\",{children:\"Mimo - work faster and smarter, not Harder\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Wondering how Mimo plays a part in this?\"}),\"\\xa0It's a financial technology platform representing the next generation of financial performance. Mimo's allows you to batch finance tasks across your various clients so you can stay focused on deep work without the need to jump in and out of multiple banks and finance tools for different clients.\"]}),/*#__PURE__*/e(\"p\",{children:\"It also tackles Type 1 Waste head-on by automating transactional tasks and systematising manual ones and empowers fractional CFOs with a customised support blanket to simplify B2B invoice payments and take back control of cash flow. In short, Mimo will help you work faster and smarter, not harder, so you can focus on what really matters.\"}),/*#__PURE__*/e(\"h5\",{children:\"Control cash flow with payments on your terms\"}),/*#__PURE__*/e(\"p\",{children:\"Eliminate wasted time with blazingly fast invoice payments and take back control of cash flow with an instant credit line and personalised financial insights.\\xa0\"}),/*#__PURE__*/e(\"h5\",{children:\"Effortless payments\"}),/*#__PURE__*/t(\"p\",{children:[\"Save up to 1 day a week with lightning-quick invoice payments and pay any domestic or international invoice in a single click and they\u2019ll be reconciled automatically.\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.cfo.com/news/what-do-ceos-want-from-their-cfos/655017/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"The average CFO spends 7.2 hours per week on manual data entry.\"})}),\"\\xa0Mimo eliminates this entirely.\\xa0\"]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"483\",src:\"https://framerusercontent.com/images/qm39jmtrSmtNqS1q3EHitzt5eBw.png\",style:{aspectRatio:\"1160 / 966\"},width:\"580\"}),/*#__PURE__*/t(\"h5\",{children:[/*#__PURE__*/e(\"br\",{}),\"Extend payment terms\"]}),/*#__PURE__*/t(\"p\",{children:[\"Control and optimise cash flow with an instant credit line to extend payment terms. We pay the client's supplier, the clients pay us back later. It's friendly, unsecured, affordable and only incurs a cost when used. Mimo aims to directly impact the\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.score.org/resource/blog-post/1-reason-small-businesses-fail-and-how-avoid-it\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"80% of small businesses that fail due to cash flow problems.\"})})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"483\",src:\"https://framerusercontent.com/images/9kqwdNHkytaRRpJzEooe0LSU.png\",style:{aspectRatio:\"1160 / 966\"},width:\"580\"}),/*#__PURE__*/e(\"h5\",{children:\"Pay suppliers anywhere\"}),/*#__PURE__*/e(\"p\",{children:\"Save up to 3% on every international payment with our market-leading interbank rate. Make global payments effortlessly with a single click.\"}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"483\",src:\"https://framerusercontent.com/images/wjcAdkbcq3cQ1xhrwDMG6PbKEA.png\",style:{aspectRatio:\"1160 / 966\"},width:\"580\"}),/*#__PURE__*/e(\"h5\",{children:\"Auto-sync accounting\"}),/*#__PURE__*/t(\"p\",{children:[\"Simplify bookkeeping with real-time transaction data and automatic reconciliation in any accounting software. It's no secret that\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.bain.com/insights/automation-scorecard/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"companies that automate their financial processes can reduce their costs by up to 50%.\"})})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"483\",src:\"https://framerusercontent.com/images/wc1LCDiUutiwafs3ZjKKILAJAdQ.png\",style:{aspectRatio:\"1160 / 966\"},width:\"580\"}),/*#__PURE__*/e(\"h5\",{children:\"Earn cashback on supplier spend\"}),/*#__PURE__*/e(\"p\",{children:\"Offer early invoice payments to suppliers without impacting your cash flow. Unlock discounts and earn up to 3% cashback per invoice when they want their money faster. It's a win-win.\"}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"483\",src:\"https://framerusercontent.com/images/i7t2pmQkWoN4dcN5LhFrsDReZic.png\",style:{aspectRatio:\"1160 / 966\"},width:\"580\"}),/*#__PURE__*/e(\"h5\",{children:\"Get paid on time every time (coming soon)\"}),/*#__PURE__*/t(\"p\",{children:[\"No more late payments or bad debt. Send beautiful payment requests, offer flexible terms, and get paid instantly. We're sure it won't surprise you to hear that\\xa0\",/*#__PURE__*/e(a,{href:\"https://blog.credriskseguros.com/en/how-the-cfo-can-optimize-the-companys-cash-flow\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"40% of CFOs say that managing cash flow is their biggest challenge.\"})}),\"\\xa0Well, Mimo is here to change that.\"]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"483\",src:\"https://framerusercontent.com/images/tJjCyGrRqnXbd0AqCuqefiT9s.png\",style:{aspectRatio:\"1160 / 966\"},width:\"580\"}),/*#__PURE__*/e(\"h5\",{children:\"A Growing Network of Empowered Fractional CFOs\"}),/*#__PURE__*/e(\"p\",{children:\"Mimo has already been saving time and money and solving problems for a growing number of fractional CFOs like Robert Johns of Arjay, who uses Mimo to manage all of his clients, including Days Brewing:\"}),/*#__PURE__*/e(\"h6\",{children:/*#__PURE__*/e(\"em\",{children:'\"Paying supplier invoices is time-consuming! With Mimo, we\u2019re looking at significant time savings, while controlling our cash flow with the built-in credit line. We\u2019re so excited to be working with Mimo!\"'})}),/*#__PURE__*/e(\"h4\",{children:\"So What's Next?\"}),/*#__PURE__*/e(\"p\",{children:\"You're now equipped with insights on incorporating the neuroscience behind flow into your routine and the power of financial technologies, such as Mimo, to eliminate Type 1 waste and deliver more in less time for your clients.\"}),/*#__PURE__*/e(\"p\",{children:\"Does Mimo sound like the tool you and your clients could benefit from? \"}),/*#__PURE__*/e(\"p\",{children:\"Get in touch today to book a product demo and chat with our team about how Mimo can help you work more efficiently and save hours of precious time every day.\"}),/*#__PURE__*/e(\"h4\",{children:/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/signup/product-tour\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"FIND OUT MORE\u2192\"})})}),/*#__PURE__*/e(\"p\",{children:\"We'll leave you with some wise words to reflect upon:\"}),/*#__PURE__*/e(\"h6\",{children:/*#__PURE__*/e(\"em\",{children:\"\\\"Time is a created thing. To say 'I don't have time,' is like saying, 'I don't want to.\\\" - Lao Tzu\"})})]});export const richText7=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"h2\",{children:\"What is the cash conversion cycle?\"}),/*#__PURE__*/t(\"p\",{children:[\"The cash conversion cycle (CCC) \u2013 also known as the cash cycle \u2013 is a \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/9-metrics-to-master-smb-working-capital\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"metric\"})}),\" that measures the time it takes for your business to convert investments in inventory and other resources into cash from sales.\"]}),/*#__PURE__*/e(\"p\",{children:\"It\u2019s calculated with a simple formula, which takes into account the time to:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Produce, hold and sell goods (Days Inventory)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Collect payment from customers (Days Receivables) \"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Pay suppliers (Days Payables)\"})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Cash Conversion Cycle = Days Inventory + Days Receivables - Days Payables\"})}),/*#__PURE__*/e(\"p\",{children:\"Ideally, the number that this formula produces will be low, or even negative (more on this in a minute).\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"There are three ways can reduce your CCC:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Sell your inventory faster (Days Inventory)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Collect payment earlier (Days Receivables)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Pay suppliers later (Days Payables)\"})})]}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"The 9th wonder of the world: negative CCC\"}),/*#__PURE__*/e(\"p\",{children:\"Albert Einstein once said, \u201CCompound Interest is the eighth wonder of the world. He who understands it earns it, and he who doesn't pays it.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"In business, a negative cash conversion cycle is considered to be the \",/*#__PURE__*/e(\"strong\",{children:\"ninth wonder of the world\"}),\" as it enables companies to grow without the need for external capital.\"]}),/*#__PURE__*/e(\"p\",{children:\"Let\u2019s look at a real-life example\u2026\"}),/*#__PURE__*/e(\"p\",{children:\"In 2012, 19-year-old Ben Francis, launched GymShark, a sports clothing brand from his mum\u2019s garage. He delivered pizza by day and made clothes by night using a screen printer and sewing machine. Fast forward 10 years, Gymshark is now worth \\xa31.25 billion, having scaled revenue from \\xa39 million in 2015 to \\xa3440 million in 2022. \"}),/*#__PURE__*/t(\"p\",{children:[\"What was the secret ingredient that helped the company achieve this growth with minimal external funding? \",/*#__PURE__*/e(\"strong\",{children:\"Its negative cash conversion cycle.\"})]}),/*#__PURE__*/e(\"p\",{children:\"In fact, Gymshark\u2019s suppliers were financing its growth. On average, Gymshark was able to use:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"108 days to sell an item in its inventory\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"19 days to collect money from its customers\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"163 days to pay back its suppliers\"})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Cash Conversion Cycle = Days Inventory + Days Receivables - Days Payables\"})}),/*#__PURE__*/e(\"p\",{children:\"108+19-163 = -36\"}),/*#__PURE__*/e(\"p\",{children:\"Gymshark\u2019s CCC was -36!\"}),/*#__PURE__*/e(\"p\",{children:\"This means they had cash on hand for 36 days for every item they sold, which they could use to finance their growth. CCC is THE financial metric that drove their capital-efficient success.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"How to control CCC with your Payment Terms\"}),/*#__PURE__*/t(\"p\",{children:[\"Payment terms (and whether you and your customers adhere to them) are what determine the conversion times of your \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-receivable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"receivables\"})}),\" and \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-payable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"payables\"})}),\". They are therefore key to your control over the CCC.\"]}),/*#__PURE__*/e(\"p\",{children:\"Here are some things you can do on both ends to improve your payment terms:\"}),/*#__PURE__*/e(\"p\",{children:\"Tips for optimising your receivables: \"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Offer early payment discounts to incentivise customers to pay invoices sooner.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Make sure payment terms are clearly communicated on invoices or through a separate agreement.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Set up automated payment reminders to avoid having to chase payments.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Negotiate custom payment terms that better align with your cash flow needs.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"Tips for optimising your payables:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Negotiate longer payment terms with suppliers to help conserve cash.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Make use of early payment discounts offered by suppliers for prompt payment.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Utilise purchase order financing or supplier credit lines to ensure you have the necessary funds to pay suppliers on time.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Consider consolidating suppliers to negotiate better payment terms.\"})})]}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Achieve negative CCC with Mimo\"}),/*#__PURE__*/e(\"p\",{children:\"While negotiating payment terms is a key method in unlocking negative CCC, most of our customers find that, as relatively small businesses, negotiating terms can be very challenging.\"}),/*#__PURE__*/e(\"p\",{children:\"Helping you overcome this, Mimo allows you to delay supplier payments without interfering with supplier relationships. This helps you increase your Days Payable, and ultimately achieve a lower, or even a negative CCC.\"}),/*#__PURE__*/t(\"p\",{children:[\"Want to know more? \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/company/contact\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Reach out\"})}),\" to discover how Mimo can help your business grow and thrive.\\xa0\"]})]});export const richText8=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"h2\",{children:\"What is the cash conversion cycle?\"}),/*#__PURE__*/t(\"p\",{children:[\"The cash conversion cycle (CCC) \u2013 also known as the cash cycle \u2013 is a \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/9-metrics-to-master-smb-working-capital\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"metric\"})}),\" that measures the time it takes for your business to convert investments in inventory and other resources into cash from sales.\"]}),/*#__PURE__*/e(\"p\",{children:\"It\u2019s calculated with a simple formula, which takes into account the time to:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Produce, hold and sell goods (Days Inventory)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Collect payment from customers (Days Receivables) \"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Pay suppliers (Days Payables)\"})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Cash Conversion Cycle = Days Inventory + Days Receivables - Days Payables\"})}),/*#__PURE__*/e(\"p\",{children:\"Ideally, the number that this formula produces will be low, or even negative (more on this in a minute).\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"There are three ways can reduce your CCC:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Sell your inventory faster (Days Inventory)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Collect payment earlier (Days Receivables)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Pay suppliers later (Days Payables)  \"})})]}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"The 9th wonder of the world: negative CCC\"}),/*#__PURE__*/e(\"p\",{children:\"Albert Einstein once said, \u201CCompound Interest is the eighth wonder of the world. He who understands it earns it, and he who doesn't pays it.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"In business, a negative cash conversion cycle is considered to be the \",/*#__PURE__*/e(\"strong\",{children:\"ninth wonder of the world\"}),\" as it enables companies to grow without the need for external capital.\"]}),/*#__PURE__*/e(\"p\",{children:\"Let\u2019s look at a real-life example\u2026\"}),/*#__PURE__*/e(\"p\",{children:\"In 2012, 19-year-old Ben Francis, launched GymShark, a sports clothing brand from his mum\u2019s garage. He delivered pizza by day and made clothes by night using a screen printer and sewing machine. Fast forward 10 years, Gymshark is now worth \\xa31.25 billion, having scaled revenue from \\xa39 million in 2015 to \\xa3440 million in 2022. \"}),/*#__PURE__*/t(\"p\",{children:[\"What was the secret ingredient that helped the company achieve this growth with minimal external funding? \",/*#__PURE__*/e(\"strong\",{children:\"Its negative cash conversion cycle.\"})]}),/*#__PURE__*/e(\"p\",{children:\"In fact, Gymshark\u2019s suppliers were financing its growth. On average, Gymshark was able to use:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"108 days to sell an item in its inventory\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"19 days to collect money from its customers\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"163 days to pay back its suppliers\"})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Cash Conversion Cycle = Days Inventory + Days Receivables - Days Payables\"})}),/*#__PURE__*/e(\"p\",{children:\"108+19-163 = -36\"}),/*#__PURE__*/e(\"p\",{children:\"Gymshark\u2019s CCC was -36!\"}),/*#__PURE__*/e(\"p\",{children:\"This means they had cash on hand for 36 days for every item they sold, which they could use to finance their growth. CCC is THE financial metric that drove their capital-efficient success.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"How to control CCC with your Payment Terms\"}),/*#__PURE__*/t(\"p\",{children:[\"Payment terms (and whether you and your customers adhere to them) are what determine the conversion times of your \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-receivable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"receivables\"})}),\" and \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/accounts-payable\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"payables\"})}),\". They are therefore key to your control over the CCC.\"]}),/*#__PURE__*/e(\"p\",{children:\"Here are some things you can do on both ends to improve your payment terms:\"}),/*#__PURE__*/e(\"p\",{children:\"Tips for optimising your receivables: \"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Offer early payment discounts to incentivise customers to pay invoices sooner.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Make sure payment terms are clearly communicated on invoices or through a separate agreement.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Set up automated payment reminders to avoid having to chase payments.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Negotiate custom payment terms that better align with your cash flow needs.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"Tips for optimising your payables:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Negotiate longer payment terms with suppliers to help conserve cash.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Make use of early payment discounts offered by suppliers for prompt payment.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Utilise purchase order financing or supplier credit lines to ensure you have the necessary funds to pay suppliers on time.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Consider consolidating suppliers to negotiate better payment terms.\"})})]}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Achieve negative CCC with Mimo\"}),/*#__PURE__*/e(\"p\",{children:\"While negotiating payment terms is a key method in unlocking negative CCC, most of our customers find that, as relatively small businesses, negotiating terms can be very challenging.\"}),/*#__PURE__*/e(\"p\",{children:\"Helping you overcome this, Mimo allows you to delay supplier payments without interfering with supplier relationships. This helps you increase your Days Payable, and ultimately achieve a lower, or even a negative CCC.\"}),/*#__PURE__*/t(\"p\",{children:[\"Want to know more? \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/company/contact\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Reach out\"})}),\" to discover how Mimo can help your business grow and thrive.\\xa0\"]})]});export const richText9=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"h2\",{children:\"The importance of cash flow management for F&B businesses\"}),/*#__PURE__*/e(\"p\",{children:\"Managing cash flow is crucial for any small business, but it's especially important in the food and beverage industry. As we know, margins can be tight, so successfully managing your working capital is essential for success.\"}),/*#__PURE__*/e(\"p\",{children:\"The founders of Mimo have been in the F&B payments and financing industry for 10+ years and have seen many of the drivers of success for early-stage entrepreneurs.\"}),/*#__PURE__*/e(\"p\",{children:\"Below, we summarise some of the key aspects of managing cash flow as a small F&B business. Some may seem obvious, but running through the list and thinking through opportunities and ways to improve your process can refresh some of the basics and help you stay in control.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"The key drivers of healthy cash flow\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Inventory management\"}),/*#__PURE__*/e(\"p\",{children:\"There\u2019s a delicate balance to strike between having enough inventory to meet customer demand and keeping inventory costs low. Overstocking ties up valuable cash, while understocking can lead to lost sales and customer frustration.\"}),/*#__PURE__*/e(\"p\",{children:\"Keeping a close eye on your stock levels and using tools like inventory management software, can help you manage your costs and improve your cash flow.\"}),/*#__PURE__*/e(\"h3\",{children:\"Payment terms for payables and receivables\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"For F&B SMEs, it's common to work with suppliers and customers on credit. Smaller players may however struggle to get preferential terms in the early days. Managing your receivables and payables and minimising your working capital is critical to ensure you have the cash flow you need to keep your business running smoothly. \"}),/*#__PURE__*/t(\"p\",{children:[\"Explore opportunities to improve payment terms with your suppliers and customers and consider using tools like \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Mimo\"})}),\" or \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/article/advantages-disadvantages-of-factoring-for-uk-smbs\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"factoring\"})}),\" to help you manage your cash flow on both sides of the equation.\"]}),/*#__PURE__*/e(\"h3\",{children:\"Control costs\"}),/*#__PURE__*/e(\"p\",{children:\"Controlling costs is crucial for success in the F&B industry. Make sure you have a solid understanding of your fixed and variable costs and take steps to reduce costs wherever possible.\"}),/*#__PURE__*/e(\"p\",{children:\"From cutting unnecessary expenses to streamlining your processes, there are many ways to control costs and improve your cash flow.\"}),/*#__PURE__*/e(\"h3\",{children:\"Plan for seasonal variations\"}),/*#__PURE__*/e(\"p\",{children:\"It\u2019s no news that we can experience significant variations in demand throughout the year. A restaurant often experiences a surge in business during the holiday season, while a beverage company may see a slowdown at the start of the year and during the summer months, for example.\"}),/*#__PURE__*/e(\"p\",{children:\"Planning for these variations and adjusting your cash flow management strategy accordingly can help ensure you have the cash you need to meet these demands.\"}),/*#__PURE__*/e(\"h3\",{children:\"Monitor Sales Trends\"}),/*#__PURE__*/e(\"p\",{children:\"Keeping a close eye on sales is critical to managing your cash flow. Regularly reviewing your customer base and sales data can help you identify trends and take action to improve your cash flow. For example, beware of slow payers or customers dropping in volume commitments.\"}),/*#__PURE__*/e(\"p\",{children:\"If you experience a drop in sales, you may need to quickly adjust your purchasing, inventory levels and sales and marketing costs to sustain a healthy cash flow.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"How Mimo can help\"}),/*#__PURE__*/e(\"p\",{children:\"By focusing on the above aspects of cash flow management, F&B entrepreneurs can ensure they have the working capital and resources needed to succeed.\"}),/*#__PURE__*/e(\"p\",{children:\"Mimo helps F&B entrepreneurs pay any supplier invoice with one click and provides fast and secure access to trade credit, so you can take control of cash flow within one simple platform.\"}),/*#__PURE__*/t(\"p\",{children:[\"What to know more? \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/company/contact\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Reach out\"})}),\" to discover what Mimo can do for your F&B business.\"]})]});export const richText10=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"h4\",{children:\"Defining trade credit - what it is and how it works\"}),/*#__PURE__*/e(\"p\",{children:\"Trade credit is an intriguing concept that feels almost like a secret handshake between businesses. So, what exactly is it?\"}),/*#__PURE__*/t(\"p\",{children:[\"Well, imagine being a business owner who needs to \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/blog/7-tips-for-streamlining-supplier-invoices\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"purchase some supplies\"})}),\" but finds themselves short on cash. Instead of heading to a bank or searching for alternative financing, trade credit swoops in like a superhero. It allows businesses to purchase goods or services from another business without exchanging immediate payment. Instead, they agree to pay for those goods or services at a later date, often within 30, 60, or 90 days.\"]}),/*#__PURE__*/e(\"p\",{children:'Think of it as an \"IOU\" between businesses or, better yet, a trust-filled, friendly agreement that benefits both the buyer and the seller, facilitating smoother transactions and fostering lasting partnerships. Not only does this provide short-term financial flexibility for the buyer, but it also helps the seller expand their customer base and encourage repeat purchases. So, trade credit can be a win-win for everyone involved!'}),/*#__PURE__*/e(\"h4\",{children:\"Advantages of using trade credit for businesses\"}),/*#__PURE__*/t(\"p\",{children:[\"Trade credit can be a fantastic financial tool for businesses, providing them with numerous advantages in managing their finances. By allowing businesses to purchase goods or services without immediate cash payments, \",/*#__PURE__*/e(a,{href:\"https://www.investopedia.com/terms/t/trade-credit.asp\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"trade credit\"})}),\" offers much-needed flexibility when managing cash flow. This financial breathing room can be a lifesaver, especially for businesses navigating through seasonal fluctuations or temporary downturns. In addition, trade credit can help enhance a business's reputation with its suppliers, as regular and timely repayments of debt demonstrate responsibility and trustworthiness.\"]}),/*#__PURE__*/e(\"p\",{children:\"Suppliers, in turn, may offer better terms or even additional credit to businesses that manage their trade credit responsibly. Overall, the advantages of trade credit can lead to improved financial stability, strengthened partnerships with suppliers, and ultimately, a stronger bottom line.\"}),/*#__PURE__*/e(\"h4\",{children:\"Businesses that can advantage from trade credit for cash flow\"}),/*#__PURE__*/e(\"p\",{children:\"Trade credit can be a game-changer for small businesses and startups looking to improve their cash flow. By allowing them to purchase goods and services on credit, businesses can maintain a steady supply of inventory and fulfil customer orders without draining their cash reserves.\"}),/*#__PURE__*/e(\"p\",{children:\"This financial flexibility can provide a significant boost to those in industries with high inventory turnover, such as retail stores, restaurants, and manufacturing companies. Furthermore, businesses benefiting from seasonal sales can stock up on inventory during peak seasons and pay off their trade credit during the slow months without stressing their budgets. Trade credit ultimately enables these businesses to navigate the ebb and flow of the market with ease, allowing them to prosper and grow.\"}),/*#__PURE__*/e(\"h4\",{children:\"The importance of understanding the terms of trade credit agreements\"}),/*#__PURE__*/e(\"p\",{children:\"Trade credit agreements are like gold for businesses when it comes to enabling smooth transactions and strengthening relationships with suppliers. However, it's crucial to fully comprehend the terms of these agreements.\"}),/*#__PURE__*/e(\"p\",{children:\"Diving deep into the fine print helps you know exactly what kind of trade-offs, including discounts and extensions, might be waiting for you, which could ultimately help you score a better deal. Moreover, understanding the terms and conditions will help you avoid unpleasant surprises that might hurt your business in the long run, such as late penalties, added interests, and damaged relationships with suppliers.\"}),/*#__PURE__*/e(\"p\",{children:\"So next time you're solidifying your business's cash flow or dealing with your vendors, remember to throw on your reading glasses, start dissecting your trade credit agreements, and seize every advantageous opportunity hidden within.\"}),/*#__PURE__*/e(\"h4\",{children:\"How to evaluate offers from different trade creditors\"}),/*#__PURE__*/e(\"p\",{children:\"When it comes to managing business expenses and cash flow, evaluating offers from different trade creditors can be a crucial task. It's essential to approach the process with a casual and open-minded attitude, knowing that the end goal is to find the most compatible creditor to form a mutually beneficial partnership.\"}),/*#__PURE__*/e(\"p\",{children:\"To kickstart the comparison, consider factors like credit terms, interest rates, and customer service of each creditor. Assess how flexible their payment schedules are, and whether they can meet your business's specific needs. Keep an eye out for any hidden fees or promotional offers and ensure their credibility through industry recommendations and reviews. Don't rush the decision-making process, and most importantly, trust your instincts when finding the right trade creditor to support your business's evolving financial needs.\"}),/*#__PURE__*/e(\"h4\",{children:\"Tips for managing your company's trade credit accounts\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"Always pay your trade credit accounts on time, as prompt payments have a direct impact on your credit score\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"Negotiate for the best terms possible with trade creditors. This may include better payment schedules and additional discounts or rewards\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"Monitor trade creditor activities to ensure they're meeting their obligations such as delivering goods on time and providing quality services\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"Always read trade credit agreements thoroughly before signing them, so you can understand the terms and conditions associated with each account\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"Stay organized by keeping track of trade creditor contact information, balances due and payment histories\"})})]}),/*#__PURE__*/e(\"h4\",{children:\"At Mimo, we help small businesses grow\"}),/*#__PURE__*/t(\"p\",{children:[\"Through trade \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/product/cash-flow-management\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!0,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"credit financing\"})}),\" and other financial solutions, our customers are able to access the funds they need to invest in their businesses. With trade credit financing, businesses can purchase goods and services from trade creditors and pay back those creditors when invoiced. This type of financing helps businesses build trust with trade creditors and take advantage of trade discounts.\"]}),/*#__PURE__*/e(\"h4\",{children:\"FAQ on trade credit:\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"What is trade credit?\"})}),/*#__PURE__*/e(\"p\",{children:\"Trade credit is a form of financing that lets businesses purchase goods and services from trade creditors without the need for immediate payment. Businesses can pay trade creditors off at a later date, usually in accordance with trade creditor terms.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"How can I use trade credit to finance my small business?\"})}),/*#__PURE__*/t(\"p\",{children:[\"Trade credit can be a great way for \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/blog/invoice-management-for-small-business\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"small businesses to finance\"})}),\" their operations. By paying trade creditors after invoices have been issued, businesses can take advantage of trade discounts and build trust with trade creditors. Additionally, trade credit financing allows businesses to avoid the need for immediate cash payments and instead pay off trade creditors at a later date.\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"What are some common trade credit mistakes?\"})}),/*#__PURE__*/t(\"p\",{children:[\"Not understanding trade \",/*#__PURE__*/e(a,{href:\"https://www.mimohq.com/blog/line-of-credit\",motionChild:!0,nodeId:\"tNggkEb5h\",openInNewTab:!1,preserveParams:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"credit\"})}),\" terms is a common mistake. Before taking advantage of trade credit, businesses should always ensure they understand the payment terms associated as well as any penalties in the event of late payment.\"]}),/*#__PURE__*/e(\"p\",{children:\"Another common mistake is assuming trade credit terms are fixed. Trade credit terms can vary from one trade creditor to another, so it\u2019s important to regularly review terms to ensure your business is getting the best deal possible.\"})]});export const richText11=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Bacs payments, which stands for Bankers' Automated Clearing Services, is a highly efficient and secure electronic payment system widely used in the United Kingdom.\"}),/*#__PURE__*/e(\"p\",{children:\"The Bacs system enables individuals, businesses and government organisations to transfer funds directly from one bank account to another without the need for paper-based transactions, such as cheques or cash.\"}),/*#__PURE__*/e(\"p\",{children:\"As a result, they have become an integral part of the UK's financial infrastructure, assisting millions of users in managing their various financial activities such as paying bills, salaries, or even collecting direct debits.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"strong\",{children:\"How to make a Bacs Payment\\xa0\"})}),/*#__PURE__*/e(\"p\",{children:\"To initiate a smooth and fast Bacs payment, the payer only requires the recipient's account number and bank sort code.\\xa0\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Navigating within your bank's online portal or digital banking app, select the Bacs Payment option and input the required data.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"With just a few clicks, you'll have set up and submitted payment instructions to the payer's bank. The transaction is routed through the Bacs clearing system, which typically takes about three working days to complete. \"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"strong\",{children:\"What are the advantages of using Bacs payments?\"})}),/*#__PURE__*/e(\"p\",{children:\"Bacs payments have become an integral part of the modern financial landscape, for both businesses and individuals, thanks to the numerous advantages they offer.\"}),/*#__PURE__*/e(\"p\",{children:\"Not only does the electronic system enhance the efficiency and convenience of transactions, but it also provides cost and time savings by reducing the need for physical checks, cash handling or manual reconciliation.\"}),/*#__PURE__*/e(\"p\",{children:\"The ease of automating these payments also plays a crucial role in streamlining financial management, allowing organisations to focus on their core operations.\"}),/*#__PURE__*/e(\"p\",{children:\"Additionally, Bacs Payments offer a high level of security, with their robust, tried-and-tested infrastructure and adherence to stringent compliances.\"}),/*#__PURE__*/e(\"p\",{children:\"To top it all, these transactions contribute to sustainability by minimising paper usage and fostering an eco-friendly approach.\"}),/*#__PURE__*/e(\"p\",{children:\"All in all, Bacs payments are an ideal solution for those seeking a reliable, swift and secure mode of transferring funds across the financial spectrum.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"strong\",{children:\"Who can use Bacs payments?\"})}),/*#__PURE__*/e(\"p\",{children:\"Individuals, businesses and charities in the UK can all use Bacs payments, as long as they have a sterling bank account at a participating bank.\"}),/*#__PURE__*/e(\"p\",{children:\"Bacs payments can be a great asset to small business owners in particular due to their ease, cost-effectiveness and security. Really, it\u2019s no wonder Bacs payments are becoming the go-to payment option for UK SMEs.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"strong\",{children:\"What are the fees associated with making a Bacs payment?\"})}),/*#__PURE__*/e(\"p\",{children:\"When making a Bacs payment, it is essential to be aware of the various fees associated with it, as these charges can impact the overall amount being transferred.\"}),/*#__PURE__*/e(\"p\",{children:\"The cost of initiating a Bacs payment can vary depending on factors like the financial institution you choose, the type of transaction (such as direct debit or direct credit), and the service level offered.\"}),/*#__PURE__*/e(\"p\",{children:\"For example, high street banks usually charge a fee for each Bacs transaction submitted individually, but may offer discounted rates for bulk transactions or for customers subscribed to their online banking services.\"}),/*#__PURE__*/e(\"p\",{children:\"It\u2019s important to also remember that there are often additional transaction charges applied at the beneficiary's end, though these vary based on their bank's specific policies. 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This means the money is transferred and credited to the recipient's account by the third working day.\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(\"strong\",{children:\"How long does a bacs payment take?\"})}),/*#__PURE__*/e(\"p\",{children:\"It takes just a few seconds to set up a Bacs payment.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(\"strong\",{children:\"How often are Bacs payments made?\"})}),/*#__PURE__*/e(\"p\",{children:\"Bacs payments can be made on an ad-hoc basis, but are typically made on a weekly or monthly basis, depending on the payment terms agreed by the parties involved. This means payments can be set up to recur at regular intervals, ensuring that all obligations are met on time.\\xa0\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(\"strong\",{children:\"What is the difference between a Bacs payment and a Faster Payment?\"})}),/*#__PURE__*/e(\"p\",{children:\"A Bacs payment is an electronic transfer of money that is typically used for direct debit payments, salary payments and other transfers. Bacs payments are made via the banking system and usually take up to three working days to clear.\"}),/*#__PURE__*/e(\"p\",{children:\"Faster Payments provides customers with a real-time payment service that allows them to make online payments within seconds. This means customers can make last-minute payments or receive funds the same day, eliminating the need to wait for their money to clear. 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