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Many businesses don’t understand the relationship between profitability and cash flow. It is an easy assumption to make that if you have a profitable business model and you increase sales, that your cash will increase. Unfortunately, for a variety of reasons, this is not necessarily the case.
When cash flow is tight in a company, it can create a stressful environment, with energy being focused on firefighting rather than on creativity and growth. Ultimately, failure to manage cash flow can lead to the business becoming bankrupt.
Galway-based start-up Mint Tek Circuits has signed a €500,000 deal with electronic, electrical and industrial components manufacturer RS Components. Mint Tek Circuits, which was founded by Georgina Kearney and Siobhán Ní Chofaigh, helps design engineers connect with manufacturers.
The firm will get access to 28,000 engineers worldwide and potential 300 orders per month, through the deal. The startup connects hardware design engineers with a panel of global PCB manufacturers through an online platform so they can access the best manufacturer for their needs depending on the lead time, price range and technology they require. Kearney said the partnership would contribute significantly to its bottom line.
Alumni in Focus
4th May 2016
A firm advocate of pursuing new directions and following a systems-based approach, Georgina Kearney founded Mint Tek – an online marketplace to enable hardware developers source printed circuit boards for their prototypes – along with her MBA classmate Siobhán Ní Chofaigh in 2014. The start-up, which is currently raising seed funding, recently signed a deal to provide its printed circuit board quotation service to RS Component’s Design Spark community for electronic design engineers.
I trained as an accountant with CIMA (Chartered Institute of Management Accountants) and my early career was mainly in finance. I worked in a range of different companies, including Chivers, Symantec and Oracle.