1. Inability to pay your debts: 
Think about ways you could increase cash flow, such as: preparing weekly cash flow forecasts to understand what has to be paid, having solid procedures in place for collecting outstanding debts from customers, talking to your bank about putting a temporary loan in place

2. Poor profitability: 
Start to monitor profit, identify issues regularly and consider areas such as: gross and net margins, sales, review the productivity of your staff.

3. Inadequate financial records:
 It’s critical to keep your records up-to-date and monitor them regularly. Make sure all your invoices and payments are entered weekly into your financial system.

4. Continually replacing staff: 
Think about ways to reduce staff turnover.

Get your business back on track: finding a good bookkeeper or accountant and ask them what key financial areas should be reviewed regularly. Contact us: www.ysaccounting.com.au