Brendan Walsh, executive vice-president and head of Corporate Payments International at American Express
Let’s start with some reassuring news: the UK's economy grew by 2.6% in 2014, the fastest pace since 2007. Our dominant is still booming, manufacturing growth is picking up and the sharp fall in oil prices is boosting consumer spending.
The mood is upbeat. We work with hundreds of small and medium-sized companies across the UK and they’ve got their tails up: they’ve learned some important lessons from the recession years, they’ve become more nimble, they’ve improved corporate governance and, in many cases, they’ve amassed some cash. Now they’re looking at opportunistically investing that money, be it in people, equipment or joint ventures overseas.
And yet cash flow is still a big concern for the country’s SMEs. Access to working capital is essential to any business, big or small. That’s why we’re brought together a group of experts to discuss their cash flow challenges and their tips to other growing businesses, including how to make sure you pay suppliers on time, how to chase payment for yourself and what to do if you've some extra cash in the kitty.
What are your biggest cash flow headaches?
Now that the economy is picking up, is cash flow still a priority for you?
Cash flow tips for growing businesses
How do you make sure you pay your suppliers on time?
If your business had more cash, what would you spend it on?
Karen Penney from American Express explains how help is at hand for companies struggling with unpaid bills…
Karen Penney is the vice president and general manager UK, American Express Global Corporate Payments.
She was appointed in 2012 and has overall responsibility for American Express’ Corporate Payments in the UK. Karen focuses on creating innovative payment solutions for thousands companies.
Karen has worked for American Express since 2002 and in finance for more than 25 years.