By Renata Chuck-A-Sang
Cash is King! A healthy profit may look nice on your financial statements, but if receivables are draining your cash, you won’t be in business for long. Cash flow is not profit. Too often business owners fail to focus enough on cash flow. In order to head off this problem, businesses must be adequately capitalised to handle downturns and emergencies that may arise.
Cash management becomes even more important during recessionary times when cash flows more slowly into the business and creditors are less lenient in extending time to pay.
For small businesses, it is a good idea to get professional help in handling business accounting and taxes. The complexity of a