🛎 Why Creative Agencies Should Prioritize End-of-Year Finances Now 🛎

🛎 Why Creative Agencies Should Prioritize End-of-Year Finances Now 🛎

❄ As the end of 2024 approaches, creative agencies should take a proactive approach to their finances. Starting 2025 with a strong cash flow position can set the stage for growth, agility, and success in the new year.❄

💣 Why End-of-Year Finances Matter💣

The final quarter is often the busiest time for creative agencies, with holiday campaigns, last-minute projects, and year-end reporting. Amid this hustle, it’s easy to lose sight of debtors, unpaid invoices or let financial housekeeping slip. But allowing cash flow to weaken now can create a rocky start to 2025, hindering your ability to invest in new projects or scale your team.

🌅 Steps to Take Now🌅

🔜 Review Outstanding Invoices & debtors: Chase overdue payments to bring in funds before the year ends. This reduces the risk of starting January with an empty bank account.

🔜 Set Clear Payment Terms: If you’re sending invoices for Q4 work, ensure clients are clear on payment deadlines.

🔜 Plan for 2025: Look at your cash flow projections and set aside reserves for upcoming expenses, including higher National Insurance costs.

✅ Why Outsource Credit Control?✅

Managing credit control in-house during a busy period can distract from delivering exceptional work. Outsourcing this function ensures you end the year with a clean slate while focusing on what you do best.

At Debtorly, we specialize in helping businesses like yours maintain healthy cash flow, so you can hit the ground running in 2025. Let us take the stress of credit control off your plate—visit debtorly.co.uk to learn more.

💪 💪 Start the new year strong with clear finances and a cash flow ready to fuel your creativity. 💪 💪