The importance of cash flow during uncertain times
As business owners navigate the challenges of the COVID-19 pandemic and its associated lockdowns, there are many strategies that should be considered to improve their cash flow situation.
At Banks Group, we have been speaking to our clients throughout the pandemic. Some are very uncertain and scared, while others are going stronger than ever. It has become very obvious to us that ‘the King’ has made a comeback, as it did during the global financial crisis: CASH is back.
Cash is the difference between money out and money in
Cash and headroom (ie undrawn finance balances) is critical in situations where operations and output are impacted while staff and establishment outgoings remain fixed.… Read More
The Royal Melbourne Yacht Squadron (RMYS), with a history dating back to 1870, is one of the oldest yacht clubs in Australia with a lengthy list of historical firsts. Most major championships have been held off its shores, with the Squadron being the control centre for the 1956 Melbourne Olympic yachting events, as well as the 1999 Laser World Championships.
At the recently held Annual General Meeting, Greg Marino (Founding Partner of Banks Group and Australasian representative on the AAANZ board of Integra International) was elected as the Commodore of RMYS. Greg won a hotly contested election with a resounding victory announced at the July AGM. Moving from Vice Commodore to the helm of RMYS, Greg has the mandate to progress the building master plan which will see major improvements to the clubhouse and onshore facilities.… Read More