Cash flow. It may be a term that invokes headaches for many entrepreneurs, but at the end of the day, few things will be more important to the long-term health of your business.
No business will be able to outwork or outrun the impacts of COVID-19. So what should an entrepreneur do next? Take the time to GASP, an acronym for the terms: Ground, Assess, Stabilize and Plan. This approach worked well for businesses that survived and thrived during the Great Recession of 2007/8 and other major market challenges.
In the world of business, cash flow is the one thing that can make or break a business.
According to our research, 82% of small businesses fail because of poor cash management skills or a lack of understanding of cash flow. This is the number one reason small businesses fail, sitting well above fraud, market changes or […]
Though they’re by no means uncommon, cash flow problems can cripple businesses of all sizes, and smaller ones are perhaps more vulnerable. Without access to capital, companies are unable to quickly adapt to today’s ever-changing business world. As such, they’re unable to grow.
The good news is that cash flow problems aren’t entirely out of your […]