The saying “cash is king” is true, as it is the lifeblood of any business or individual to survive in this economically challenged world. If you have a small or large business, accurate cash flow management is required in order to keep it on the right track. Bear in mind that cash can make or break your business. So, you have to manage it wisely.
It does not matter what kind of business you are in or how lucrative it is. If you unfortunately get short of money and are not able to borrow some amount, your business will surely stop operating.
For your information, profit is not like cash. Your business may be profitable, but short of cash at the same time. If you are unable to pay your employees or supplies, then it is impossible for you to stay long in business. Continue reading