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Manage your cash flow
The right cash flow strategies can go a long way to helping your business succeed.
Best practices to increase your cash flow
Invoice immediately after you deliver goods or services
Offer a small discount to customers who pay their bills early; charge a penalty to late-payers
Monitor your receivables on a regular basis. Establish a credit policy for your customers and be sure to follow up with late-payers
Use your business credit card to pay suppliers and earn rewards while taking advantage of the payment grace period
Ask suppliers for credit terms - this can help reduce outflows until you collect payments from your customers
Finance (equipment, vehicles) instead of buying to free up cash
Feeling the financial impact of COVID-19 on your business?
Are you a small business owner challenged by the impact of COVID-19? We're here to support you with tools and resources to help keep your business moving forward.