Today’s Times takes a look at how and why small businesses should pay attention to managing their cash. There’s an interview with Charles Rolls and Tim Warrillow of Fevertree Ltd, which makes tonic and other mixers; a list of dos and don’ts; a look at how to make sure there is enough cash flowing into the business; and advice on what to do if you do find yourself in a pinch.
And, handily, none of this is behind the paywall.
Some markets are too big for small businesses to enter. But that doesn’t mean they can afford to ignore them. Sometimes the only way to secure big clients is to have a foothold in their big markets.
That’s why the Observatory, a London-based consultancy that helps businesses get the most from their marketing agencies, set up small, wholly-owned subsidiaries in Germany, South Africa and Singapore: the move gave it a presence in continental Europe, Africa and the Asia-Pacific region.
When it came to America, the firm had to take a different tack. “The market was much larger and more mature, which meant breaking into it would be very challenging,” said Lucinda Peniston-Baines, who co-founded the 25-person business in 2007. “But it was also a critical market for us because 70% of our business is international — large global advertisers.
“We did consider going it alone, but a joint venture seemed much easier. It gave us instant scale and it also helped our partner, Roth Associates, which wanted access to the rest of the world.”
Read more in The Sunday Times (paywall)