Importance of Cash Flow Management for Small Businesses
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You may think that profitability of a business has the upperhand when it comes to running a business successfully. But, there is an old saying that no business ever went downhill because it lacked profitability. It went under owing to insufficient cash flow. Having cash at the ready allows a business to operate smoothly. So, managing your cash reservoirs efficiently while also ensuring that you have enough to make ends meet – for instance paying wages, purchasing supplies, meeting personal requirements etc is vital for business longevity.
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