10 ways for small business to increase cash flow

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Maximizing the company’s cash flow fosters profitability, quick achievements of the business goals, and less operating costs.

By experimenting with the different pricing structures, you will be able to set the prices that fit all types of customers.

1. Raise Prices of Goods or Services

2. utilise a high interest saving account

Utilizing high-interest savings accounts provides liquidity to small businesses, in order to help them improve overall cash flow.

3. implement electronic payment systems

With electronic payment submission to vendors, your business gets the time to make a payment.

By sending invoices to someone who owes you money for products or services immediately, the delay in invoicing gets reduced.

4. Automated sending of invoices

The late delivery of the products can lead to cash flow issues for your business and decrease customer satisfaction.

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5.

Streamline inventory management

Many customers don’t prefer cash payments for their purchases. So, providing credit card options allows your customers to consider another form of payment.

6.

Conduct credit checks for customers

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By offering discounts on expensive recurring products or services, you’ll more likely to get advance payments.

7.

recieve early payments with discounts

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8. CONSOLIDATE YOUR DEBT

In case your business has debt to pay each month, cash flow management will be more difficult. Cash flow issues arise more in the high-interest credit card debt.

9. LEASE INSTEAD OF BUY

Leasing equipment, real estate, or supplies could end up costing more in the long run than completely purchasing them.

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10. PAY SUPPLIERS LESS

In order to pay less to your suppliers, negotiate with suppliers & convince them to land you with a better deal.