‘Make sure you get paid’

Thursday 26th February 2009, 3:00PM GMT.

BUSINESSES should focus on making sure they will be paid for their work, say accountancy and legal experts.

Cash is king, early invoicing is vital and litigation can be avoided by getting money in advance or on delivery, speakers told delegates at a ‘masterclass on managing your business through challenging times’.

Andrew Quinn, a director at KPMG Channel Islands, said that a turbulent environment created opportunities, but the risk and uncertainty could change quickly and dramatically and had to be managed.

Mr Quinn added that financial forecasting and cash management were key, with survival more important than prosperity during an economic downturn. The masterclass was organised jointly by the Institute of Directors and Jersey Enterprise.

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