Cash Flow Management The Key Challenge for Service Businesses
Did You Know? Cash-Flow Problems are the main reason why companies go out of business within five years.
Late payments and market volatility are the largest reasons why SMBs and larger entreprises struggle with cash-flow.
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Cash Flow A Tough Lesson To Learn For SMBs Small businesses (SMBs) are often called the lifeblood of the economy. As it were, cash flow is the lifeblood of the small business — and many firms are struggling. The latest research from Wells Fargo, Euler Hermes and Intuit finds late payments and market volatility are among the largest reasons why SMBs and larger enterprises struggle with cash flow, a scenario that has its own domino-effect of negative consequences. According to Intuit General Manager Alex Chriss, cash flow is a life-or-death factor for a company. “Every day, small business owners fight to deliver amazing products and services for their customers, but — with 50 percent of small businesses going out of business within five years of opening their doors — the odds are stacked against them,” Chriss said in a statement. “The top reason for failure is the cash flow crunch and lack of flexible options.
Cash Flow Strategies for Service Businesses
Apply one of those strategies to improve the risk of running out of cash and establish your sustainable cash-flow stream rapidly. To Your Success!