For a small business owner or operator, cash flow will always be king.
Why it matters: Without sufficient cash flow and capital, small businesses face an uphill climb to achieve long-term success.
“There are eight primary ways a small business can improve cash flow, optimize cash reserves and revenues, and secure discounts from vendors and suppliers,” says Jeremy Shackleford, SVP and Director of Small Business Sales for WSFS Bank. “Cash flow improvement requires a holistic approach that considers both inflows and outflows of cash.”
Your cash flow checklist:
- Cash Flow Forecasting
- Cash Reserve Management
- Vendor and Supplier Relationships
- Revenue Optimization
- Improving Working Capital Efficiency
- Cost Reduction and Expense Management
- Cash Flow Monitoring and Analysis
- Short-term Financing Strategies
Go Deeper: Get the details behind these cash flow strategies to enhance your small business’ financial stability, strengthen relationships with vendors, optimize revenues, and achieve sustainable cash flow growth.
Helping you boost your financial intelligence.
Read our financial resources from your friends at WSFS.