Daily Archives March 18, 2019

Common Cash Flow Problems For Small Business (And How You Can Avoid Them)

Many small businesses fail within the first five years of operation and even more fail in the first 10. Up to 80% of those cases involve problems with managing cash flow.

The good news is that you can nix these cash flow problems and keep them from putting your startup out of business with the right financial strategies. Consider the following common cash flow pitfalls and how you can avoid them.

Overspending too soon

Entrepreneurs often use their own money to get their startup up and running. This makes it crucial not to overspend early on. Impulse purchases can easily break your business before it even goes anywhere.

You need to be able to differentiate between vendors and service providers that you need and those you don’t. Make a detailed budget and stick to it at all costs.

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