Here are some tips for improving the cash flow for your business:

Accounts receivables:
Properly control your accounts receivables and retrieve overdue accounts as quickly as possible. If you are not aggressive with collection, profits are lost.

Take advantage of the market:
A common problem is many small businesses price their products lower than the market and do not make a profit. You should research the product’s market, distribution costs, and the competition, before deciding on prices. Constantly keep an eye on the aspects that play a role on pricing and adjust when necessary.

Make use of short-term loans:
Taking a loan from a financial institution can solve short-term cash flow problems.

Boost sales:
One way to increase your cash flow is to boost sales. Consider, when a large amount of your sales are credit sales, sales are boosted, but not cash on hand. Due to receivables not being collected until 30 days after the sale, a significant increase in credit sales will diminish the company’s cash reserves fast.

If you need help with maximizing your cash flow, feel free to contact us at  402-932-8815.

Sincerely,

W. E. Stevens PC