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Strengthen Your Balance Sheet with a Healthy Cash Reserve The COVID-19 pandemic demonstrated, yet again, that nothing is certain in business. A perfectly healthy business can be hit by the unexpected at any time. However, companies with a cash reserve to fall back on are the most likely to survive downturns in fortune. The question…
How to Keep Your Cool and Keep Your Customers Late paying customers are a constant problem for many businesses. When invoices are paid late it affects cash flow, and chasing the slow payers can waste a lot of time. It can also be frustrating to hear the same delaying tactics used again and again. Sometimes…
Controlling Cash Flow is Essential to Success Small businesses are often strapped for cash. A critical business imperative is to control cash flow and not just manage it. As any business matures, various factors affect cash flow, some being growing operating costs, direct product costs (cost of goods), staffing/labor, product and service pricing as…
Improve Cash Flow and Enhance Working Capital With These Strategies The working capital of a business is the cash available to spend immediately. In accounting terms, working capital is defined as the current assets, less the current liabilities. If you have negative working capital, your business is in serious trouble. But merely having positive working…
5 Strategies to Lessen Your Financial Problems Cash flow issues are a problem for many business owners. Even companies with steady clientele can run into this issue. Fortunately, there are ways to maintain control and keep operations running as usual. Here are five ways you can do just that: 1. Make it Easy for Clients…
From Cutting Costs to Collecting on Payments, How to Survive an Economic Downturn Since the coronavirus outbreak, we’ve seen the sharpest economic contraction in modern history with a staggering 32.9% drop in the GDP. As a business owner, you may be suffering from the effects of the extensive economic downtown and wondering what you…
Sell Your Accounts Receivable for Steady Cash Flow No two companies are exactly alike. Even similar companies serving the same industry can have vastly different ways of earning money, completely different spending strategies and differing ways of handling accounts receivable. That’s the beauty of the business world, but also the bane of many commercial financial…
Protect Your Business Against Potential Threats You spend lots of time and effort in building up your business. Don’t let scammers ruin your reputation and damage your bottom line. Scammers are known to target businesses of all sizes. To protect yourself against these offenders, learn about the tell-tale signs that are typical of a scam…
Tips to Shore Up Your Business Finances Bankruptcy has always been intended as a “last resort” measure for avoiding total insolvency and financial ruin. It’s an important safety net for emergency situations, but it does come at the cost of a big hit to your credit score and ability to secure financing for the following…
Tips to Help Your Business Exit a Crisis Stage Crises are realities that businesses either come face to face with or flirt with over their life cycle. These are conditions that present serious challenges to the business owner and its staff. How you respond to crises is going to define how your company grows and…