Like blood is to a body, cash is necessary for a business to exist. Quick cash collection, prudent cash management, and cash reserves where possible will provide you the flexibility to look for new possibilities and weather tough times with your business.
A lot of owners of small businesses are dealing with negative business conditions that are affecting their cash flow. According to the Bank of America's 2023 Small Business Owner Report, 88% of small business owners believe that inflation is having an impact on their enterprises. In this competitive labor market, 36% of small business owners plan to pay higher wages to recruit or retain staff, according to the report, which also revealed that 26% of small businesses are losing sales.
How then do you manage?
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A weekly online video radio show that brings businesses, entrepreneurship, supplier diversity, information, and opportunities through collaboration with contract providers and lenders. The BusinessZone, we educate, encourage, inform, and inspire the business owners and entrepreneurs in our global communities.
This platform can help you grow your business through heightened visibility “on-air” and via YouTube.com and Facebook.com.
Co-hosts:
Crystal Mitchell, Business Coach | Educator | Entrepreneur | Speaker
Gilbert Buchanan, Business Coach, Founder, SmallBizPro
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