Cash flow management is simply the discipline of managing the money coming in and out of your business to avoid liquidity shortfalls.
Some of the benefits of getting cash flow management right include:
Solid cash flow management can make a big difference on how the business will emerge post-Covid-19. Whether your business is a micro enterprise that is just starting up or a large corporation, the core principles of managing cash flows are the same.
The business can operate in a booming industry and have great revenue generating potential; however, these prospects can easily be derailed by poor cash flow management practices. It is important for every business owner to understand their cash position and take an active part in making decisions to protect and grow it, especially in times of crisis.