Small businesses face a constant battle to ensure there is enough cash available to meet new orders as well as to pay staff and meet overheads.

So any business looking to expand will have to stretch its resources even further to make ends meet, reducing overheads where possible and negotiating better deals with suppliers.

A recent survey suggested that 29% of entrepreneurs would be willing to borrow from their joint savings account to fund their business; hardly a viable long-term proposition, nor one that is likely to induce domestic harmony.

"Businesses need to think long and hard about securing funding for growth," claims David Robertson, chief executive of Bibby Financial Services, which carried out the survey. "Exploring alternative finance options and reducing operating costs where possible are the first steps to long-term business success whereas relying on personal finances is often a risky short-term strategy.

"Going back to basics with finance and investigating all the options carefully to ensure the right solution is sought at the outset will not only to help bring insolvency statistics down but will also improve the health of the UK business nation," he added.

Bibby offers the following tips to help you stay in control of your cashflow:

Reduce your operating costs
Carry out a full review of where your business spends its money. Can you cut back on any expenses without having a negative effect on profits?

Talk to suppliers
Are you paying too much for supplies? Ask for discounts or better rates, especially if you are purchasing large volumes of goods on a regular basis

Buy in bulk

Consider buying in bulk at a cheaper per unit price. This can help increase profit margins, although it will require committing larger amounts of cash upfront

Ask the experts
Seek external expert advice from an independent source. But remember to choose carefully as it is imperative that you select someone who appreciates your needs and understands which direction you want the business to go in. Advice from a third party can also act as a 'sense check‘ and stop any rash decisions being made

Consider finance options

In the short-term, bank loans and overdrafts can be useful sources of finance, but the latter can be withdrawn at short notice, leaving a funding gap. Consider more flexible sources of finance, such as invoice finance, which allows a business to unlock funds tied up in unpaid invoices, leading to an immediate injection of cash. And, as the business grows, so does the amount of funding available

Involve funders from the outset
Involving your funders in the planning process means you can work together to ensure you get the right deal at the right price

Communicate

Once funds have been successfully secured and borrowed; invite the lenders to see how their money has been used. This generates confidence and trust, making future requests for funding a much smoother process