Monday, July 21, 2014

10 Ways to Improve Your Small Business Cash Flow

10 Ways to Improve Your Small Business Cash Flow
To have a successful business requires the ability to maintain a healthy cash flow on a day-to-day basis. A healthy cash flow includes keeping an accurate record of cash inflows and outflows so that you are able to have enough necessary cash on-hand and to produce enough funds to cover expenses. You also want to make the payment process convenient for your customers, but have reasonable assurance that payments will be received on a timely basis. Here are some everyday money management tips that you can apply to your small business:   
  • Stay on Top of Your Books
  • Send Out Invoices Promptly
  • Create an Ironclad Accounts Receivable Process
  • Get Rid of Unnecessary Expenses
  • Offer Your Customers Multiple Payment Options
  • Require Partial Payment in Advance for Project Work
  • Limit Inventory
  • Use Payment Terms That Give You Breathing Room
  • Consider a Line of Credit
  • Anticipate and Plan for Future Investments

 For more details on these money management tips refer to this link: 

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