Christmas is the most awaited time of the year. Not just because of the festive and merry vibe everywhere, but because it is also the time that we can relax due to the long holiday break. However, that long holiday break may not be a good thing for some businesses as it means an irregular period of cash flow.
Businesses might close for a few days or even weeks during this time - but it doesn't mean that their expenses stop. There are still business expenses that occur while your business is on a break.
Some of the cash flow woes that small and medium sized businesses experience over this season include insufficient funds to cover expenses over the summer break and the employees who are responsible for managing your cash flow, accounts receivable and other financial affairs are on holiday.
So how do you beat these cash flow problems while enjoying the rest of the holiday?
Here are some simple cash flow management tips that you need to do to have a worry-free holiday season: Read more…