Whether you're interested in the smaller business community, are planning to start a business or have an existing business, we have a package for you.
Our most popular package is FSB Business Essentials which includes a whole range of benefits and products designed to make your business fly
A suite of legal benefits including a dedicated helpline, bundled insurance products and a range of online information to keep your business safe. Plus a whole range of negotiated benefits to help save you money and win business.
Our Business Creation package is designed to make starting a business simpler, allowing you time to focus on what's important - making it a success.
Specialist company formation benefits, access to FSB networking, business banking and a range of products to help get you setup in business.
Joining FSB Connect is free and is a great way to be part of the FSB Community and have your voice heard.
You'll be able to access specialist networking events with like-minded members of the community and have your say in our Big Voice survey panel.
Whatever your circumstances, we have a package to suit you and your business. Click the button below to see which benefits are included in each package and start your FSB journey.
'Within a few weeks of joining we'd taken advantage of FSB’s Online Legal Documents. We started a graduate programme and access to these documents gave us an understanding of the legal side, and has helped us to create a number of processes and procedures.'
'When we first took on a member of staff, we used the online legal document template library. FSB does more important stuff than you think it does, there are lots of member benefits, probably more than we actually use.'
'Having somebody like FSB behind you is fantastic. There is a whole team behind the organisations, whatever is required: support, advice, finance, you know that you’re not alone, you’ve got FSB.'
We represent a diverse range of businesses from retailers to marketing agencies and just about everything in between. Take a look at more member stories and see how we could help your business fly.
More Member Stories
We offer three packages to suit your business needs. Joining FSB Connect is free, our Business Essentials package starts at £172.50 in the first year and our specialist Business Creation package has an introductory price of £99 in the first year.
Keeping track of what money is coming in and going out of your business is essential.
Remember, profit isn’t the same as cash flow.
Your business may generate a large profit margin and you may experience strong growth, but if your money is all tied up in stock you may not be able to pay your suppliers, which could damage your business’ reputation.
Here's 7 great ways to keep your cash flow in check and avoid cash flow problems:
Set targets for the next six to 12 months to keep track of finances and to avoid any shortfalls. The most basic way to set up a cash flow forecast is to keep a simple spreadsheet listing income and costs on a monthly basis. Take note of any seasonal variations – for example, heating bills will probably go up during winter. Factor in fixed and variable costs to your cash flow forecast and be realistic – include every item.
Send out invoices promptly and be quick to chase overdue bills. It’s also worth setting out clear payment terms with suppliers from the start of doing business with them – 30 days is standard. Get to know your customer payment dates and don’t ignore irregularities or delays — a poor paying customer might be about to go bust. Knowing when you’re due to be paid for a product or service will help you keep on top of your cash flow.
Efficient stock management is just as important as managing cash flow. Reconcile your stock records at the same time as you reconcile your bank account – be it weekly or monthly. This way you will remain on top of items that you have left in stock and those that require reordering. An efficiently managed stock control system will have a positive impact on your cash flow because you will never be holding too much stock, or have all your money tied up in it.
Many businesses need a cash boost from a bank or lender every now and again, particularly when they’re starting out, and might need credit or an overdraft to get up and running. Stay on good terms with them and keep them informed of any unforeseen outgoings or changes in forecasts. By developing a good relationship, based on trust, with banks and lenders, they’ll be more likely to treat you favourably should your business need future financial assistance.
If your business is growing rapidly – say, for example, you’ve just won a new contract from a client and you’re worried about having enough money to meet your overheads – seek access to a line of credit from a bank or financier, such as an overdraft or short-term loan. In many cases, this is a viable option because banks are more willing to lend to a business if they can see a draft service contract or letter of intent. Once the client pays, you can pay your debt. You will only have to pay interest to the bank or financier for the amount of time you actually need the cash.
Assess the frequency with which you pay suppliers, tax bills, utilities and so on — is it possible to pay in instalments or make terms more flexible? Use your powers of negotiation to strike deals that are favourable to you and your business. Also, check on all those little things you spend money on that can add up – as the old saying goes, watch the pennies and the pounds will take care of themselves.
Identify potential cash flow problems in advance by regularly updating your cash flow forecast, monitoring market conditions, keeping an eye on customers and suppliers who may be in trouble, and taking action as soon as you see a problem. Don’t bury your head in the sand and hope an issue will go away. By keeping on top of your cash flow you’ll be able to deal with problems quickly and efficiently. Also, if worried, talk to an accountant, investor or business mentor.
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FSB Financial Healthcheck has been providing unbiased, independent sound advice on personal and corporate finance for over 20 years.
National Federation of Self Employed & Small Businesses LimitedSir Frank Whittle Way / Blackpool / FY4 2FE. National Federation of Self Employed & Small Businesses Limited (FSB) is registered in England, number 1263540