EOFY is drawing closer and businesses find themselves in a familiar position—navigating cash flow challenges while trying to finish the year on a high. Whether it’s covering tax obligations, settling supplier invoices, or ensuring you have enough working capital to hit the ground running next year, the EOFY cash crunch is very real.

Here’s how to wrap up the financial year smoothly and set your business up for success.

1. Get friendly with your finances

If you’ve been putting off reconciling your books, now’s the time to face the numbers. Understanding your cash flow position is key to making smart decisions in the new year. Check your profit and loss statements and balance sheets, know where your money’s coming from and where it’s going.

2. Get your ducks (and documents) in a row

Do future-you a favour and get everything in order now. We’ve put together a handy graphic to show you a breakdown of the documents and statements you might need—but don’t forget to double check with your accountant or tax professional before you submit:

Examples of end of financial year documents for UK businesses, source: https://www.bizcap.co.uk

3. Maximise your deductions (AKA keep more of your cash)

Nobody likes paying more tax than they have to. Now’s the time to claim every deduction you’re entitled to—think equipment purchases, business travel, and even a portion of your home office expenses, if relevant. Have a chat with your accountant or take a look at this tax relief guide to uncover hidden deductions.

4. Chase outstanding invoices

Chasing unpaid invoices isn’t fun, but neither is running out of cash. If clients are dragging their feet, now’s the time to give them a nudge. Think about offering early payment incentives, late payment penalties (within reason), or automating your invoicing system to avoid this hassle next year.

5. Stock up and save

Need new equipment or supplies? Many suppliers offer EOFY deals, so now’s the perfect time to invest in what you need. Take note of your ordering needs so when this time rolls around next year, you’re prepared. And if you need a little extra cash to stock up or take advantage of EOFY sales, apply now to see how much you can borrow with an obligation-free offer.

6. Plan ahead for a smooth cash flow next year

EOFY isn’t just about wrapping things up—it’s about setting up for a better year ahead. If cash flow has been a constant struggle, think about financing options that give you breathing room when you need it most. A flexible business loan from Bizcap can help cover working capital obligations so you can maintain momentum in the new year.

7. Celebrate all the wins (even the small ones)

Made it through another financial year? That’s worth celebrating. Take a moment to acknowledge the hustle, the late nights, and the achievements. Running a small business is no small feat, and you deserve to start the new year feeling empowered.

You don't need to tackle it all alone

If the end of the financial year has you overwhelmed, you don’t have to go it alone. Whether you need a quick cash boost, a flexible funding option, or just some financial breathing space, Bizcap has a solution to start the new financial year off strong.

‍