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Article | 2-minute read

Making the most of credit cards for your business

Cash flow forecasting | Cash flow improvement

 

To protect your small business one of the simplest things you can do is to make the most of your credit card, especially in times of financial uncertainty.

Choosing a credit card with interest-free terms will allow you to buy your business supplies now and then pay for them later. Whether you’re a tradie who needs to purchase building supply materials, a retailer who needs to purchase stock, or a café owner who needs to increase their supply of coffee beans, an interest-free credit card gives you the ability to manage your in-and-outgoings without an immediate reduction in cash.

 

Handy tips to maximise the benefit of credit cards for your business

You can maximise the benefit of using an interest-free credit card by following these handy tips:

1.       Pay your balance off in full each month

2.       Set reminders to make sure you pay your balance on time

3.       Try to plan your spending so you make any bigger purchases at the start of the statement to give yourself more time to repay them.

Of course, there are other cash flow tips you may not have considered. You could audit your working space to find cost efficiencies, switch to a cloud service for your IT (so you don’t need to pay for updates) and even negotiate with suppliers.

Learn more about interest free days on ANZ Credit Cards 

 

 

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Deciding on payment terms that suit your business 

For businesses looking into the future it is important to be prepared for uncertainty with a resilient cash flow plan and manageable debt. 

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Making accurate cash flow forecasts for your business 

The livelihood of any business depends on cash flow – making the ability to forecast accurately a vital skill to navigate financial uncertainty. 

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