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How to Manage Cash Flow Effectively. 6 Essential Tips for Small Businesses.
Manage episode 484952603 series 3388020
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As small business owner Rachel shut off the lights in her cosy neighbourhood café, she let out a sigh. It had been a busy month with steady sales, yet her bank balance told a different story.
Tomorrow’s supplier bill loomed, and the cash was nowhere to be found. What causes a bustling café to struggle to pay its bills on time?
If you’re a small business owner, this scenario might feel familiar. It highlights a hard truth: cash flow can make or break a company’s survival. As a matter of fact, research revealed that poor cash flow management for small businesses contributed to 82% of failures.
Clearly, knowing how to manage the money moving in and out is as critical as making sales in terms of improving any business finances.
This guide will show you real-world examples of how entrepreneurs handle cash flow challenges and important strategies for managing cash flow.
By the end, you’ll have actionable tips to keep your business’s cash flow healthy so you can worry less about bills and spend more time growing your enterprise.
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