How can a company improve it's financial standing?

[Alexandoy]

Some will say loan is not good but still so many companies out there cannot survive without acquiring loan and paying back. A good and growing firm actually needs a strong financial backing in order to out way all obstacles if there is no way for funding the financial aspect of the company its adviceable to get loan

Maybe I can agree with the business loan if the purpose is for expansion of the business. But there should be a strict computation on the payments because a bank loan usually will impose penalties for delayed installments and worse the collateral can be forfeited in their favor. The loan payment is the issue in loans.

 

[akinlolu99]

Like they say, account is the soul of a Business, when a business is going through a tough situation, it's monetary position can help it endure those hardship.

for a situation of an organization that it's account isn't looking so extraordinary, how might that association improves it's monetary standing?

 

[Josemendez]

Like they say, finance is the lifeblood of a Business, when a business is going through a rough patch, it's financial position can help it weather those storm.
in a case of a company that it's finance isn't looking so great, how can that organization improves it's financial standing?

To every financial challenge, there is likely a cause and so the company need to understand the cause first and thus be able to work towards reducing it and improving their income

 

[Ralphjoe]

To every financial challenge, there is likely a cause and so the company need to understand the cause first and thus be able to work towards reducing it and improving their income

I completely agree with you that for a company to be able to improve its financial standing, it needs to understand the reason why it's financial position is not strong and then deal with that problem that is causing it.

 

[Razor1911]

I completely agree with you that for a company to be able to improve its financial standing, it needs to understand the reason why it's financial position is not strong and then deal with that problem that is causing it.

Finding out the problem and fixing it is the key solution of long term progress. If any company is not able to get the target then there is something wrong in their plan which requires rectification.

 

[Josemendez]

I completely agree with you that for a company to be able to improve its financial standing, it needs to understand the reason why it's financial position is not strong and then deal with that problem that is causing it.

There is no way one can solve a problem without understanding what the problem is. My companies fail to work on their expenses , income and debt this causing financial challenges in future

 

[Dowenship]

Like they say, finance is the lifeblood of a Business, when a business is going through a rough patch, it's financial position can help it weather those storm.
in a case of a company that it's finance isn't looking so great, how can that organization improves it's financial standing?

How A company can improve there financial standing when there financial aspect is not looking good solemnly depends on the staff of the company.

 

[Ralphjoe]

How A company can improve there financial standing when there financial aspect is not looking good solemnly depends on the staff of the company.

I do not agree with you that a company can improve their financial stand only through the impact of the staff of the company rather I think that those that are only capable of improving the financial standing of the company is actually the manager of the company or the owner who takes the bulk of the financial decisions of the company.

 

[cowantussie]

Five Tips To Improve Your Company’s Financial Performance
1 Cash Flow – Companies either can’t produce it or their capital lines have been cut. As a business owner, you probably tend to work in the business instead of on the business, which ultimately hinders your cash flow. Most businesses are not able to forecast their cash flow, which reduces their ability to anticipate shortfalls in the future and correct them.
Lack of Timely and Accurate Financial

2 Statements – Often times, financial statements are created by an outside Certified Public Accountant (CPA) and mostly used for tax preparation. Instead, you need meaningful, accurate and timely financial statements that are created with the purpose of helping make business decisions and validating those decisions.

3Key Financial Indicators – How do you know things are going according to your plan? You need a dashboard, just like your car, to tell you the speed of the company, if you’re close to overheating or if you need more gas. Your key financial indicators will tell you what’s in the pipeline and if your products and sales are doing what they should. In today’s economy, you don’t have the luxury of reaction – you need to be proactive with knowing where you are today.

4Lack of Operating Budgets – You need a budget that is realistic and meaningful. Your budget is used to drive pricing and profitability. In today’s ever changing environment, you may need several variations of your budget. Your operating budget is your measurement tool for success.

5 Outdated Systems and Processes – Proper systems and processes help tighten everything up and make your company run efficiently and effectively. You need to make the most use of everyone’s time and do things the fastest, most effective and efficient way possible. Many businesses are struggling with uncollected accounts receivables. When was the last time you reviewed vital financial procedures for credit, billing and collection?

 

[Shigobad2020]

Like they say, finance is the lifeblood of a Business, when a business is going through a rough patch, it's financial position can help it weather those storm. in a case of a company that it's finance isn't looking so great, how can that organization improves it's financial standing?

Money or lets say fund and finance is the lifeline of a business , and thats why mist of the company have a reserve fund to tackle a problem in times of needs, they use the reserve fund as a planB.

 

[Ralphjoe]

Money or lets say fund and finance is the lifeline of a business , and thats why mist of the company have a reserve fund to tackle a problem in times of needs, they use the reserve fund as a planB.

In my humble opinion, I do not think that a company needs to get to a situation whereby their financial standing will start having issues and they can only avoid this by taking good financial decisions that will not allow the company to get to that extent whereby they will be thinking of applying either a plan b or a plan c.

 

[Jlife]

if they cannot generate the required money they needed to run the business successfully I think they should ask out for a voluntary donation from a group of philanthropist or government organisation, this is the only way to go about it.

 

[GIFTMICHAEL]

I'm a company isn't moving in the right direction through financial degradation. They can give it out their shares for high profile individuals to buy, and become part of their administration to help bolster its revenue or resources.

 

[Jlife]

since you have already established the business you can get a loan from the bank to improve the financial strength of your business organisation, you should only be able to get a loan to start of something you know you'll be able to pay back

 

[Bousine123]

I think it's best a company track it's financial assets and let go of liabilities and things that are causing them to spend unnecessarily.

 

[skyliequiz]

Expense reduction is one of the most effective strategies to enhance your financial condition. Examine every aspect of your organization to discover if there are any cheaper options for supplies, equipment, or services. Check out several bank accounts and insurance plans to see if you can get better terms.

 

[Peterlight]

Less spending should be there first priority then they need to think of how to increase sales and reduce cost of production.

 

[Good-Person]

Like they say, finance is the lifeblood of a Business, when a business is going through a rough patch, it's financial position can help it weather those storm.
in a case of a company that it's finance isn't looking so great, how can that organization improves it's financial standing?

Well, any business can improve its financial conditions by controlling its expenses. However, this does NOT mean that businesses should start offering low salaries to their employees.

 

[Yusuf]

The best way for a company to improve it's finanacial standing is just to produce more and sell more. If you can give your workers target to work on and deliver as scheduled, your finanacial standing will definitely improve.

 

[Thinker009]

I think the company needs to get a financial manager that could checkmate the expenses and make profit from the company business , so the company would not run in debt