As your business grows you hire tradesmen and office staff. It’s an exciting time full of possibilities. However, after a few months the niggles set in.
Cash flow is the single most important aspect of financial management for any small -- or large -- business. Running out of cash is the major reason businesses fail.
As a business owner, making sure you have cash available (or at least the potential to generate cash) to meet your obligations is not only essential for survival, but is in many cases a legal obligation.
This is a guest post from Tony Fraser-Jones, Director at Profitable Tradie.
If you’re in business, making decent money is important. Sometimes, though, it doesn’t always work out the way you’d planned; you may find that your profits are low, or your cash flow is slow.