Operating a business is a rewarding and often profitable endeavour that also comes with the responsibility of maintaining and managing financial transactions. The unfortunate reality, however, is that many small businesses struggle to manage cash flow problems because of insufficient funds and a lack of contingency planning.
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Small businesses need to prioritize money management and cash flow to increase their chances of survival, but according to a survey, only 54 percent of small businesses had a budget for 2021. That means the other half of small businesses have yet to build a budget to set themselves up for success.…Continue reading