SCORE Small Business Blog

Finance: Stop the Outflow of Cash
1 Comment

Q: How do entrepreneurs slow the flow of cash out of their businesses?

A: We are in a recessionary economy. As an entrepreneur, have you tightened your spending? Have you cut over-spending? Customers feel the pain much later than you. Now is the time to act. Don’t wait any longer. Be sure your expenses are in line with revenue. Don’t just pay bills with business as normal. In a recession, a vigilant look at expenses can keep cash flowing longer & can help you weather the recession. Don’t build up inventory. Sell off old inventory. Limit travel to client-focused trips. Don’t build up office supplies. That counts as money spent and just sitting on the shelves, not helping you make a sale.

For more help on how to cut costs and tighten your budget, Find SCORE near you or Ask SCORE online.

Barbara Lippard, Guest Blogger
View more posts by SCORE’s Guest Bloggers

// |

Discussion (1) Comment


  1. JustlookingVisitor

    Good article just wish the government knew it and would stop spending money.

 

Leave a Comment

More Blog Topics