Here are 10 Simple ways to increase cashflow in your small business
Here are 10 Simple ways to increase cashflow in your small business Every small business owner needs to manage their cashflow. Here are 10 simple ways to boost your business' cashflow. 1. Be a good neighbor. Split advertising and promotion costs with neighboring businesses. Jointly promote a sidewalk sale, or take your marketing alliance further by sharing mailing lists, distribution channels and suppliers with businesses that sell complementary goods or services. 2. Buy recycled printer cartridges. Check Google or your Yellow Pages for a local recycled printer cartridge supplier. 3. Fill it out for free. Instead of buying forms at your local office supply store or spending time creating them yourself, you can find tons of free forms online that you can download, customize and print. 4. Get free software. Visit Download.com to try hundreds of software products for free through trial downloads, freeware and limited versions of the full product. Another tip: If you haven't found what you're looking for through Download.com or our software guide, check out the manufacturer's site. Most offer free trial downloads. 5. Buy used equipment. Save up to 60 percent by buying used computer equipment, copiers and office furniture. Auctions and newspaper classifieds are other good sources of used equipment. 6. Go with the flow. Rather than paying for employees who sit idle when business is slow, consider hiring temporary employees to handle surges in business. 7. Learn something new. Rather than pay a consultant to write your press releases, for example, hire one for an hour or so to show you how to do it yourself. 8. Seek at least three bids on everything. Even mundane purchases merit shopping around. If you quote a competitor's lower price, a supplier or vendor will often match that price to win your business. 9. Avoid cash advances. Credit card companies usually charge an upfront fee of up to 2 percent of the advance, with interest accruing immediately. 10. Time your payments. Ask suppliers if they give discounts for early payment. If not, it's to your advantage to pay your bills-including utilities, taxes and suppliers-as late as possible without incurring a fee. The longer funds are under your control, the longer they're earning a return for you rather than someone else.