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10 things SMEs must do now to reduce business costs and encourage cash flow improvement

Download the PDF version here.

How to improve cash flow, you may ask. There are many simple and effective ways to do so, and that includes both tracking funds that go in and out of the company. Check out the tips below.

Prepare your cash flow forecast for the next 12 months.

Check your bank balance, debtors and creditors. Factor in your monthly fixed expenses such as rental, utilities, staff costs and loan repayments if any.

Renegotiate with your suppliers.

Ask for lower prices or longer repayment terms of 6 to 12 months. In return, offer them longer fixed term prices or supply contracts.

Talk to your bank about restructuring or rescheduling your financing instalment payments.

The automatic 6-month moratarium for your loan repayments will help improve your cash flow. However, take note that interest will be still be charged on your outstanding loan amount.

Consider invoice factoring through banks, P2P (peer-to-peer) lending or fintech (financial technology) companies.

They will pay you immediately (at a discount) for receivables you may not be able to collect on for weeks or months. Your accounting firms will be able to assist you.

Offer discount vouchers to your supporters and customers.

When they buy your vouchers to be redeemed for products or services in the future, you get cash you can use immediately.

Convert fixed costs to variable costs.

You can raise cash by selling and leasing back assets such as machinery, equipment, computers, phone systems and even office furniture.

Reduce your variable costs.

Look for opportunities to reduce contract labour and re-distribute work to your permanent staff. Encourage employees to take available leave balances to reduce liabilities on the balance sheet.

Negotiate with your employees on pay cuts, shorter working hours or deferred bonus payments.

Reduce employee cost by applying for the 2 initiatives by SOCSO*:

  • Wage Subsidy Programme (WSP)**
  • Employment Retention Programme (ERP)

Where to apply :

*SOCSO is also known as PERKESO
**WSP is also known as Program Subsidi Upah (PSU)

Apply for these COVID-19 financial aid programmes.

Employer COVID-19 Assistance Programme (e-CAP)

Submit application via e-CAP function in i-Akaun (Majikan) on a monthly basis.

Tax deferment
Submit application form: Borang Permohonan Penangguhan Bayaran Anggaran Cukai.
More info at

We're ready to help.

Call 1700-818-881 to get your business back on track fast. Our team is standing by to answer your questions.

Want to learn more?

Visit for more info.


Get the funding and digital solutions to keep your business going:

Download the PDF version below.

Get up to RM5,000 off now