Women in Agriculture, Wigtownshire: Cash is King – Managing and Monitoring Cashflow

Cash is King!

Good cashflow management is key to the success of any business. During strong trading years, it is vital that cashflow is managed to build a cash reserve which can be used to fund necessary on-farm expenditures. Similarly, in poor trading years, cash flow must also be managed to ensure that all bills can be covered, whilst avoiding causing any long-term damage to the business as a result of a cash shortage.

With agricultural markets renowned for being particularly volatile, it is key that farmers learn to manage and monitor their business cashflow.