By Mike Ward
“When it comes to your small business one of the biggest challenges can be having the cash to grow. There are a number of “cash management” tools offered by banks that can help your business pick up surprising amounts of cash flow without increasing traditional borrowing levels.
As simple as it may seem, before you can identify tools to improve cash flow you must understand your company’s cash cycle. The cash cycle consists of:
- How you get paid.
- What you do with the cash you have on hand.
- How you pay it out.
Getting paid faster clearly builds available cash. Small businesses can’t always negotiate better payment terms with their customers, but they can make it easier to get paid and also move money to their account more efficiently. Start by ask yourself: Continue reading “Grow your business through better cash management”