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SMALL BUSINESS TIPS DURING FINANCIAL UNCERTAINTY: 8 CASH FLOW AREAS TO REVIEW

REDUCE CASH OUTFLOW
1. Cancel unnecessary business expenses (e.g. subscriptions, entertainment)
2. Reduce/Cancel unnecessary personal expenses (reduces personal income
requirement)
3. Review and Renegotiate terms on essential business expenses - both recurring and
one time (property rent, capital equipment rental)
4. Discuss new terms/extensions from suppliers
INCREASE CASH INFLOW
5. Proactively address the way to borrow finance to ensure continued cash flow
6. Introduce new payment options (0% financing, credit card, cash discount, etc.)
7. Ask “what can you afford?” when working with clients that may be at risk for
defaulting payments
8. Don’t change your Profit First percentages (yet)