The holiday season is fast approaching, and while summer brings the sun and festivities, it can also bring major cash flow shortages that affect the health of a business.
Increased trading and inventory, staffing issues and chasing late receivables can all cause stressful peaks and troughs in cash flow. So how can business owners stay on top of their cash flow throughout the busiest time of year?
Here are three easy ways business owners can protect cash flow and ensure their business continues to thrive throughout Christmas and into the new year.
Create a detailed plan and forecast
As a small business owner, it’s crucial to have a good understanding of your sales and especially being aware of how seasonality affects your cash flow. Sales forecasting is a great way to do this, as it provides you with a good idea on what to expect in your bank account in the coming months.
All you [...]