Small Business Cash Flow: It’s Not as Difficult as You Think
Cash Flow. Perhaps the most powerful two words in any business vocabulary.
What is so elusive about it that even the mightiest of fortune 500 companies struggle to maintain it?
At Tampa Small Business Loans we get it. We really understand the importance of cash flow and the significant impact it can and will have on your business. That is why it is of critical importance for you as the business owner to have good detailed records of every dollar that comes into your business and goes out.
“Why Keeping Organized Financial Records Pays Off By Ivy Lamb, Manta Content Editor – December 23, 2016 Did you know that maintaining accurate accounting records can help your small business cash flow? Cash flow is the lifeblood of a small business. What would you do without money in the bank when you need it? No one wants to be in a tight spot like that. There’s lots of advice out there on managing and improving cash flow, but the best thing you can do is stay organized.”
The Most Common Mistakes Owners Make With Small Business Cash Flow
As one of the best small business lenders we constantly see the challenges in providing businesses with access to working capital.
Why? Bad bookkeeping and bad financial records. Sometimes it’s as simple as providing bank statements. Many times it’s nothing more than providing a current P&L (profit and loss) statement or Balance sheet. Many times it’s sloppy banking where the business owner commingles their personal and business finances.
Too often we see multiple transfers between bank accounts which sometimes makes it impossible to see whether the revenue generated is truly income or the source is from another business bank account. Regardless there are simple steps that you can take to ensure the next time you apply for a business loan your application and supporting documents are clear and readily understandable to put you and your company in the best position to get the funding you’re looking for.
Talk to us today about your financial needs.