The lifeblood of each and every small business is cashflow. The old saying goes that “cash is king” and that is true nowhere more than in the small business arena. It is worth asking, then, why so many small businesses leave cashflow planning to chance.
Cashflow planning needn’t be time consuming, or costly – in fact if it is either of these things then it really isn’t being done correctly! Cashflow planning should be a simple and quick, yet effective, way to measure the health of a business.
Cashflow planning using a spreadsheet, such as Excel, is possible; however, what they don’t necessarily offer is a reliable projection of the business’ future. WinWeb believe that a cloud computing cashflow-planning solution is the best possible method for businesses to plan their cashflow.
The main reason that cashflow planning is imperative for every small business is the fact that it gives a very quick overview of the health of a business. When starting a business this projection can allow you to assess if the project is viable, as well as allowing you to see how long it will be before your business moves in to the black.
Cashflow planning is also essential in order for a small business to make informed and educated decisions on a daily basis. Every choice within a business should be governed by cashflow; by having a cashflow planning tool that is accessible from any computer or smartphone, anywhere in the world, cloud computing cashflow planning solutions allow you to make these informed decisions no matter where you are.
Not planning cashflow within a small business is like sticking your head in the sand; whether the cashflow plan shows good or bad projections it is always best to be prepared. Cashflow planning can make the difference between business success and failure – don’t stick your head in the sand, give your business the best possible chance of success by planning your cashflow.