For a business to succeed, it must generate profits but also operate with positive cash flow. For a business to be viable, cash flow is king. So having a high profit is great. But low cash flow results in a profitable business unable to pay its bills. There is a solution. Let’s look at a couple of areas of your business where you may be able to find a solution.
There are different levels of financial support that a business will need over time. Do you need a Bookkeeper, Controller, or CFO? Which is the right resource for your business will depend on many factors. The first person to whom you should ask this question is your CPA. Your CPA should not be the one filling the role of Bookkeeper, Controller or CFO. Why?
Every business in America, whether they realize it or not, needs financing to fund growth strategies for their business. However, given the tough lending environment, small business financing is not always easy to find. There are the conventional sources such as banks and finance companies. There are also what are considered unconventional sources such as owner’s savings, friends and family or credit cards.