Etsy has been causing controversy lately with it’s new reserve system, which for some sellers has meant that 75% of their takings have been held for 45 days leaving them struggling to trade and pay suppliers!

The importance of cashflow within a business (especially a small business) can’t be overstated, after all:
Turnover is Vanity (Your sales income)
Profit is Sanity (What’s left after you’ve paid all your expenses)
Cash is King (What’s actually in the bank)

In a recent study, half of UK small businesses have unpaid invoices from the last tax year and many small businesses are still awaiting payments from up to six months ago. This unsurprising but worrying result leaves an already struggling sector vulnerable to crises.

If you struggle to get your invoices paid and cash into the bank, there are some helping hands available like www.chaserhq.com. And there’s always the option of the small claims court!

Is this something that you struggle with?

Sarah & Gemma
Solstice Startups