For many American businesses, recent economic upheaval has forced them to reevaluate their business models, their assets, and what success looks like. Some industries needed to find ways to stay afloat, while others were slammed with unplanned-for demand.
Most people have heard the personal finance adage that they should have cash equal to 6 months of expenses on hand, in case they lose their job or have an emergency expense. But should businesses? And is it realistic or wise to have that much capital sitting around? The short answers: Yes, and yes. How…
Owning and operating a business is an exercise in creativity, innovation and invention, but when it comes to cash flow, hard numbers need to add up. Depending on the business, knowing if you’re profitable can be simple or maddeningly complex. With a solid understanding of your cash flow, you’ll have peace of mind that things…