How small businesses can better manage their money
Hitting the jackpot of business models is one thing. Managing finances is another. Business News Daily offers six ways that small businesses can better manage their money. Here is a taste:
Cash is most important: A common mistake small businesses make is combining cash and profit together. Many companies can be profitable, but if they lack the cash to cover internal costs, they won’t be in business for long. During the recession a number of companies had strong profits, but when clients started disappearing they lacked the cash reserves to stay afloat during slow times. Know what your cash flow is; if it is not growing each month you possibly aren’t making a sustainable profit.
Full story at Business News Daily.
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