Experiencing cash flow problems at some points in time does not mean you are bad at business. It means life happened to you. It’s times like these that Get Business Loan Quotes can quickly and simply help you get the funding you need to keep your business afloat or simply keep the stress at bay. Not only do we help you find the best funding programs, but we also offer you the following cash flow management tips:
- Create a 12 month cash flow forecast to help see when shortfalls may arise in order to properly prepare.
- What’s business without a little negotiating? Review your contracts and negotiate terms with your suppliers. Ensure your payments are made timely to foster healthy relationships which in turn will help garner more favorable terms.
- Keep accounts receivables in check. You may not like this aspect of business, but it is a necessity. You provided a service or delivered a product and deserve to be paid. Do not let unpaid accounts flounder. Be consistent with reminders and phone calls.
- Make it easier for your customers to pay. Accept various forms of payment such as cash, credit/debit cards, or cash. Offer automatic monthly billing directly from their bank account or credit/debit card. Some business owners shy away from accepting credit/debit cards because of the fees connected to it. However, it is often more cost effective to pay the fees in order to have the timely payments and reduce the cost of collections.
- Open a line of credit when business is steady so you are prepared for emergencies.
Don’t lose sleep worrying about cash flow during the lean months. Submit an application to Get Business Loan Quotes now to learn how we can ease your mind help provide the funding you need!
Source: Get Business loan quotes.com
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