Just to pick up one point.
Suppliers must be paid on time but it is bloody hard when no bugger pays any valuations from months work on site. Especially when the lads need to be paid.
It is a big juggling act.
Yes I appreciate that - it was harsh advice (sorry) but the reason is that the invoices snowball if not not dealt with and one month soon rolls into the next. Suppliers are super quick these days to chop a credit account down in size based on the advice of their underwriters, regardless of their own longstanding relationship with a company so its necessary to be timely.
Yeah, its gonna be tough if youre trying to turn things around. Maybe (and this isnt critisism) you'd need to tackle bringing in the money from valuations sooner...its not fair on you that people take their time to pay.
As far as the juggling money bit goes, try to plan ahead with a Cash Flow Forecast (apologies if any other replies have mentioned this, I cant remember now waht i read last week). An accountant will be able to help you or you could get a book on business accounting basics.
This is all assuming the opportunity is viable of course. I really do wish you well.
