Archive, Financial Insights | December 6, 2010
The Business Development Bank of Canada (BDC) gives these tips for building cash flow:
1. Track cash flow throughout the month.
2. Monitor financial statements closely.
3. Build positive relationships with customers and suppliers.
4. Collect payments quickly and stay on top of late bills.
5. Manage your inventory and provide product offers.
6. Use debt to finance fixed assets.
7. Use a line of credit or your own money to increase your working capital.
8. Refinance your fixed assets.
9. Cut waste and streamline operations.
10. Get external advice.