It was tough enough to sit there and fill out the paperwork for a small business loan. Your palms were getting sweaty, your heart rate had increased, and your hands were shaking by the time you submitted the paperwork. You smiled in the clerk and he smiled back, but you went back to your business […]
Without cash flow, no business will survive. It is often considered the lifeblood and if you run low or completely out of workable cash, it can cause serious problems. It can make it almost impossible to purchase inventory, pay the utilities, cover your lease, and even pay employees. Unfortunately, not enough business owners are intimately […]
The end of the year is the time when most retail businesses move from operating in the red (at a loss) to the black (at a profit). Consumers are rushing out to get gifts and other great deals before those holidays are upon us.
There are ways to capitalize on this and take full advantage
Operating a business requires many hats. Most small business owners attempt to wear as many of these hats as possible in order to reduce operating expenses (ie., having to pay employees to do these basic tasks). With smartphone technology, mobile apps, and ‘the cloud,’ it is becoming easier to streamline some of these processes.
It’s not always easy trying to figure out the right financial product for your particular small business. You will be confronted with the prospect of getting a loan, a cash advance, or maybe an opportunity for factoring. Not all of these are going to be ideal for every situation.
Businesses led by entrepreneurs that follow financial best practices have been known to consistently outperform their competitors both in terms of their annual revenues as well as a happier and more loyal customer base.
Managing your day-to-day operational cash flows is critical to the success of your business enterprise. Regardless of however impressive your profits might be, an inability to manage the simple intricacies of your cash inflows and outflows can essentially damage the health of your company.