Good Information Articles

12 Overlooked Strategies to Boost the Cash Flow of Your Business

Did you know that you are likely overlooking simple ways to boost the cash flow of your business? In any business, and in particular small businesses, cash flow is king. Cash flow is directly linked to the profit of a business and bottom line, to your pocketbook. Consider the following 12 strategies as possibilities to boost the cash flow of your business.

1. Speed up Your Accounts Receivable Process - One of the largest issues for many small business owners is the length of time that it takes for their accounts to pay for products and services. Send invoices immediately, consider shortening your payment terms to 30 days from receipt and consider offering a percentage discount for early payment.

2. Encourage Credit Cards - Credit card payments from customers can speed up the payment cycle for your products and services and can also be taken at the same time as shipment or delivery of goods. Also, you may be able to reduce the incidence of any insufficient funds checks from customers or bad debt due to non-payment.

3. Leverage Interest - For any cash assets that your small business currently has, consider leveraging a high interest savings account so that you can earn money on your money while it is not in use.

4. Offer Incentives - Consider offering incentives for re-orders or consistent orders on a monthly basis i.e. refill programs, as this will ensure that you have regular, repeat business without having to spend the time or energy contacting customers for additional sales.

5. Regular Price Increases - You would be surprised at how many small business owner forget to increase their prices regularly, causing them to actually lose purchasing power when the effects of inflation are taken into account.

6. Negotiate Vendor Contracts Regularly - Be sure that you are re-pricing all of your purchases from vendors at least semi-annually to ensure that you are getting the best available prices. You can be sure that they will not contact you when their prices decrease.

7. Amortize your Expenses - Consider leasing equipment instead of buying it so that you can amortize the depreciation on your annual taxes.

8. Efficient Inventory - Don't keep more inventory around than you need. Tighten your ordering system to cut costs.

9. Monitor Your Receivables - Always be on top of the money that is owed to your business. This one definitely seems like common sense, but you would be surprised at how many business owners let money that they are owed fall through the cracks on a monthly basis.

10. Push the Limit on Your Payables- Keeping in mind that business is business, push your payables out as much as possible so that you can hang on to your valuable cash.

11. Reduce Interest Payments - When possible, use long term debt instead of short term debt. Seek interest on debt that is helpful, interest that you can deduct on your annual tax returns. And, evaluate your interest payments regularly to ensure that you are paying the lowest rates possible.

12. Fee Free Banking - It is just silly to pay fees anymore for regular banking, especially with the number of banking institutions willing to offer fee free accounts. While this seems like nickel and diming, you would be surprised how much $5 here and $10 there can add up over the course of a year.

Salim Omar, author of "Straight Talk About Small Business Success In New Jersey" specializes in providing accounting and tax services to small business owners and professional practices in NJ. Salim's articles are featured in various national magazines including Accounting Today, The CPA Journal, Chiropractic Economics, Wealth Manager and The Two River Times. You may request a free copy of Salim's new special report titled "How To Drastically Reduce Your Taxes By As Much As 62% This Year Alone And Put Thousands Back In Your Pocket"

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

MORE ARTICLES:

Making Time For Your Family and a New Internet Home Business
Starting your own internet home business can be a very fulfilling experience. It offers many new and exciting challenges, with the hopes of providing financial security for you and your family.

Family Travel at its Finest - European Villa Rentals Perfect for the Whole Family
Parents can easily find family friendly villa rentals in Europe with Rentvillas.com.

Work From Home - Online Resource Center for Home Based Online Jobs and Internet Based Business
Welcome to Work from Home?s ?an online guide and resource website to help you Start and grow your Home based Job and Business. Please note that we are only offering information on Work from Home Jobs and Business opportunities. We are not offering you a job or a business tie-up. Please read through the website as you will find valuable information and resources to start and grow your home based business. www.homebasedonlinejobs.com

Sales of Children's Travel Bed Soar as Summer Travel Hits
Gentle Air has seen an increase in summer travel sales due to hotels at popular summer attractions charging high prices for rollaway beds and cots.

Business & Family Safety and Health Rating
For good reason, practically every endeavor in life is rated. I've seen ratings on who or what's #1 in business, industry, NFL, NBA, MLB, person of the century, athlete of the century, technology, restaurants, university, neighborhoods, travel destination, best looking, best movie, best book, etc.

Internet Based Business: How Single Parents Could Earn Extra Income For The Entire Family
Are you a single parent who has been trying to support your children on a single income? If you have been having so much trouble making both ends meet with your present income, you might want to earn some extra money by setting up an internet based business. A big family with children can be very expensive and you definitely will need to earn some extra money to keep everyone comfortable. Having some extra money could really do wonders for you and your small children so you better start exploring other means of getting extra money for your children through an internet based business.

Travel Insurance When Pregnant Or Traveling With Children
There was a time when pregnant women would avoid traveling altogether, but these days women don't let pregnancy stop them from going abroad and having fun. Only you can decide whether the pros outweigh the cons when travelling while pregnant or with small children.

Home Internet Business Opportunities: Reinvent Your Family
Think about your daily job, daily responsibilities, time spent at meetings, driving your kids to this activity and that sporting event, meal planning and preparation, house cleaning, on and on with our grossly busy lives, and what time is left for our family? Do you really think that 9-5 JOB is the answer to all of our hopes and dreams? Do you really think it was our personal goal to spend the majority of our lives at work? When was the last time you saw your son/daughter play in that school volleyball game or run in their cross country meet? Isn?t it time to put your family first?

Family Circus - Make Time For Family With An Internet Business
Sometimes, it seems like you don?t have a full 24 hours in a day. Between work, family, and sleep, there is no time for anything else. You never seem to have five minutes to relax, and on days when work requires overtime, you lose time with your family. In fact, it seems you never spend quality time with your children anymore. One way to get your life back under your control and manage time better is to start your own internet business. With an online business opportunity, you can decrease your work hours overall, as well as become more flexible and available for your family.

Work At Home Internet Home Business Opportunity
There are various opportunities for work at home Internet home business opportunities on the Internet Because of the Internet, there are many opportunities for people to be able to take care of their families and work from home and as well

Low-Income Families in Portland Will Soon Have Free Broadband Internet at Home
Cricket Will Provide Free High-Speed Wireless Internet to 100 Portland Families in Pilot Program with One Economy

Internet Marketing Business - Your Home Based Internet Marketing Business and the Freedom Attached with it
There are various reasons why there are many individuals who want to start their own home-based Internet marketing business. Some are saying that the amount of money that they are earning from Internet marketing is higher compared to their monthly salary from their regular work. It even comes to a point that they are earning money similar to or more than the salary of their managers and department heads! This is relatively true, since there are Internet marketers who are earning as much as a hundred thousands of dollars within a month.

SoGoNow.com -- Home of the Best Travel Article Written for the Internet in 2006
SoGoNow.com travel magazine announced that frequent contributor Linda Fasteson has won First Prize for the Best Travel Article Written for the Internet from The North American Travel Journalist Association.

Families Mourning Children Travel to Nashville for July Compassionate Friends National Conference
The Compassionate Friends self-help support organization for families going through the natural grieving process following the death of a child is hosting its 31st national conference July 18-20 in Nashville, Tennessee. More than 1300 parents, siblings, and grandparents, as well as professionals who provide support, are expected to attend the conference. Highlights include well-known speakers, more than 100 workshops covering most aspects of grief following the death, a pre-conference Professional Outreach Day, and the Walk to Remember Sunday July 20 at 8 a.m. This conference is annually the largest in the United States aimed specifically for those left behind following the death of a child.