Smart business owners can improve their cash flow cycle with a few simple changes to their business practices.
You need funds to start, grow, and expand. The usual sources for small business working capital rapidly disappear in times of economic uncertainty. Banks, venture capitalists, and small business lenders close their proverbial doors to small business owners. Look to your own cash flow for answers.
In times such as these, small business owners, entrepreneurs, and sole proprietors need to look for cash within their business. If you keep your books using software such as >QuickBooks, you can’t expect it to make decisions for you. The software is generally very good at keeping records, calculating numbers, and integrating data for reports, but it’s not built to maneuver and change course. In short, it’s up to you to improve your cash flow.
Each of these moves would improve your cash flow and, thereby, create a source of small business working capital that allows you to budget, forecast, and quite possibly survive these difficult times.