Whatever the size of business you work in, running out of cash is a real worry. It’s particularly dangerous for small businesses—in fact, it’s the biggest single cause of them failing. There are many potential reasons behind a cash crisis, but if you take time to understand them, you’ll be equipping yourself with the know-how to prevent a short-term problem turning into a much bigger nightmare.
Step one: Understand the factors that have an impact on cash flow
1 How does the behaviour of customers affect cash flow?
Slow payment by customers is a main cause of cash-flow problems for a business. A sale is only completed when an invoice is paid in full, but many businesses concentrate on generating new sales and don’t ...
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