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Most companies are finding that cashflow—that is to say, positive cash flow—is more important than profit‐making at the moment. That is not to say that in the longer term profit is not of the highest importance, but in order to survive to make profits at all liquidity is essential. The problem is not confined to the United Kingdom but is world‐wide, and its solution depends on the use of all the methods of speeding the flow of money within the organisation.

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