Cash flow is always an important element in the smooth and successful operation of your business and is particularly key in meeting opportunities and demands.
Generating sales and managing operations are, of course, also important, but ensuring that that cash from those sales is collected and that your company's daily cash flow needs are managed efficiently and effectively is even more important. And this is particularly true when the economy goes into a slump. Your business's resources can be stretched to the max and you may find yourself scrambling to keep up with your own accounts payable, let alone worrying about your receivables.
So proper planning is paramount to be able to better avoid a serious cash crunch in the future.
As one step in that planning, it's wise to diagnose your company's cash flow health and ferret out any weaknesses that could create problems down the line. To that end, here is a checklist to help you get a picture of just how healthy your cash flow is.
If you answer "no" to any of the above questions, you may have profit and cash flow leaks in your company. Take steps to plug the holes before you face significant financial damage.
If your business received a PPP loan, you may be eligible to have that loan forgiven. Our team can help you ensure that your loan forgiveness application is filed correctly and timely. Complete our five-question form, and we can provide a quote for your application by the next business day.Request a Quote