Managing finances and ensuring the profitability of your company are usually the top priorities you face as a business owner. Sometimes it can prove to be a real challenge when you’re balancing all the aspects of your business.

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eCapital.com
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Consider all the
upfront costs
associated
with running
your business.
It’s important
to get a good
understanding
of your business
and its financial
needs early on.
Managing finances and ensuring the profitability of your company are
usually the top priorities you face as a business owner. Sometimes it can
prove to be a real challenge when you’re balancing all the aspects of your
business.
Here are 5 simple tips to help improve your company’s cash flow:
1. Look into the future.
Consider all the upfront costs associated with running your business. It’s
important to get a good understanding of your business and its financial
needs early on. Are your business costs going to be greater than your
company’s income for a few months? Keep a realistic pipeline to help you
forecast your financial needs.
2. Avoid needless spending.
Unnecessary expenses can really be inhibiting to cash flow goals. Make
sure you, and your employees, adhere to budget standards and approved
expenses. Consider using expense reports to help manage expenses.
3. Consider factoring your invoices.
It’s an inevitable fact of business that you will have a few slow-paying
customers. There is a proven solution called accounts receivable financing,
or factoring, that allows you to get upfront cash so you don’t have to wait
30-60 days for a payment. A factoring company essentially purchases your
invoices so you can get immediate cash to use for upfront business costs.
Many factoring companies allow you to choose the customers you want to
factor, giving you the financial control you need to run your business.
4. Plan for seasonal changes.
Know your business and when the seasonal peaks and dips occur. This will
help you plan your year to ensure you have the cash you need to run your
business. If your busy season is summer, keep a portion of money aside
during those months to help fund for the slower months throughout the rest
of the year.
5. Take advantage of loyalty and savings programs.
Many companies offer loyalty and discount programs for everyday business
expenses such as office supplies and fuel. For instance, Staples has a
Staples Rewards Card that offers 5% back in rewards and instant savings
on copy and print services. At eCapital, we offer a Fuel Card that provides
instant savings at the pump. Small savings like these can really add up to
considerable savings in your bank account.
Want more ways to help improve cash flow? Contact us at 800.705.1500 and
chat with one of our experts!
Who is eCapital
anyway? We’re in the
business of buying your
accounts receivable to give
you fast cash and financial
freedom.
Connect with us and
find out more.
5 simple tips for
IMPROVING CASH FLOW
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