6 Things You Can Do To Increase And Manage Your Business’ Cash Flow Throughout The Year

There are a few unique challenges to owning and running a seasonal business: preparing for the busy season, making the most of your busy season and making sure you have enough money to cover the offseason. Planning and managing your business’s cash flow is essential to sustaining a successful business. Here are 6 things you can do to increase and manage your business’ cash flow throughout the year.

1. Fully know and understand your business. If you don’t have a business plan, create one. A great way to learn the ins and outs of your business is by studying your competitors. Be honest about the seasonality of your business and what products and services sell during which time of the year.
2. Keep a calendar. Efficient record keeping will save you time and money. Note when all expenses are due throughout the year (e.g., payroll, utilities, inventory, rent, etc) and match your incoming revenue to cover these expenses.?(Click Here To Learn More)