Founder member of FECMA

The recognised standard

Managing Cashflow Guides

Business Basics – with Lord Sugar

Lord Sugar has produced three videos on behalf of the Department for Business, Energy and Industrial Strategy (BEIS). In these videos Lord Sugar reiterates the steps you must take when extending credit, from knowing your customer to getting paid.

Click above to view the videos.

Talking about the launch of these initiatives, Lord Sugar advised: “I know just how tough running a business can be. It is all too easy to get the basics wrong, or simply to fail to get the basics done. These videos and guides provide simple, short and practical advice on a range of business essentials. I hope you find them useful”.

 

 

Small businesses are the backbone of our economy and this Government’s Industrial Strategy is building a Britain in which they can continue to thrive. Over the last 5 years the amount owed to smaller businesses in late payment has more than halved but we want to see payment practices improve even further.

 The Prompt Payment Code sets the gold standard in payment terms and plays an important role in bringing about a culture change in payment practices. This, alongside a package of measures taken forward by government and industry, demonstrates our commitment to tackling late payment.

 Alongside the Code, businesses can use the newly introduced Payment Practices Reporting website to find out more information about the payment behaviour of larger businesses and the Small Business Commissioner website to find out further advice on resolving payment issues.

 

The Chartered Institute of Credit Management administers the Prompt Payment Code on behalf of
BEIS, an initiative which sets standards for payment and supply chain best practice.

Click here to see the list of signatories and to find out more.

The CICM has produced a series of Managing Cashflow Guides in association with the UK Government’s
Department for Business, Energy and Industrial Strategy (BEIS). Over 580,000 of these guides have been downloaded by businesses across every sector.

Managing Cashflow Guide series…

The Managing Cashflow Guide series is produced by the Chartered Institute of Credit Management (CICM) in association with the Department for Business, Energy and Industrial Strategy (BEIS).

  1. Knowing your customer
  2. Payment Terms
  3. Invoicing
  4. Treating suppliers fairly
  5. Credit Insurance
  6. Invoice finance and asset based lending options
  7. Chasing payment
  8. When cash runs short
  9. When all else fails
  10. When your customer goes bust
  11. Managing cash through Brexit
  12. Investing in equipment

Additional Resources

‘Business Finance Guide’

The Managing Cashflow Guide series is produced by the Chartered Institute of Credit Management (CICM) in association with the Department for Business, Energy and Industrial Strategy (BEIS).