NEWS > Learn credit control to manage cashflow
Published: Monday, 17 Jan, 2011
Extensive expertise in training is being put to good use in helping companies to keep their cash collections flowing. Leicestershire based RK Business Training Ltd was established in spring 2010 when Cliff Wynn turned redundancy into an opportunity to launch his own business. The company that he formed provides business and credit management training to all sizes of business, with particular focus on training smaller companies in the benefits of correct credit control procedures.
Extensive expertise in training is being put to good use in helping companies to keep their cash collections flowing. Leicestershire based RK Business Training Ltd was established in spring 2010 when Cliff Wynn turned redundancy into an opportunity to launch his own business. The company that he formed provides business and credit management training to all sizes of business, with particular focus on training smaller companies in the benefits of correct credit control procedures.
"We have a great team of knowledgeable individuals who between them have many years' experience in the training industry, from course design right through to delivery," explained Cliff, speaking on 17 January 2011. "Between us we have provided training throughout the UK as well as abroad." Cliff's experience in financial collections training had highlighted that small businesses can often benefit from help in this area. "Understandably, business owners often focus on 'doing' the business and cash collection can be overlooked, until a cash flow crisis appears. However, by then it is often too late," he added.
Business Link was on hand to help when Cliff was looking to launch his business, providing him with access to support from the idea stage through the production of a detailed business plan and to putting the plan into action. As he put it, "Business Link ensured that before I invested too much time - and more importantly my own money - that I had thought through the business plan from a financial point of view and that I also had a full marketing plan in place. My local Business Link adviser also provided an impartial overview of my plans, which was invaluable. "It is easy to think you have thought through your plans, but it's a great benefit to have an experienced business person review your ideas. They can identify new opportunities and maybe, more importantly, possible threats and pitfalls."
In addition to professional training courses in finance, management, soft skills and credit control, the team at RK Business Training is able to help businesses to trace customers who have received goods or services and moved premises without informing their creditors. All in all, with access to ongoing support and advice through Business Link, Cliff is confident that the business will continue to build on its success. "It's great to have access to an impartial expert who can provide information, answer my business questions and act as a sounding board for my ideas. I will definitely continue to work with Business Link as the business develops."
Cliff's top tips for new businesses
* Review your business plan several times before embarking on you new venture.
* Talk through your plans with as many people as possible and be open to other people's ideas.
* Whatever effort you have estimated it will take to start you business be prepared for it to be significantly more than your estimate.
Budding entrepreneurs from across Leicestershire wanting to find out more about the support and advice FREELY available to help them turn their business idea into a reality should contact Business Link on 0845 058 6644, email: info@businesslinkem.co.uk or visit www.businesslink.gov.uk/eastmidlands/freshstart
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