5 Tips to Prevent Cash Flow Problems in Your Small Business

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How to Prevent Cash Flow Issues in Your Small BusinessMaintaining healthy cash flow is one of the most pressing challenges faced by small businesses. You need a consistent flow of cash to meet your payroll obligations, pay bills, invest in inventory and a host of other everyday expenses. Here are five tips to help you prevent cash flow problems and improve the overall health of your business.

5 Tips to Prevent Cash Flow Problems

1. Forecast Your Cash Flow

It is a good idea to create an estimate of cash coming in and cash going out on a monthly basis, and continue to keep it updated.  The cash flow forecast should help to identify periods of time when cash is low.  If you know ahead of time, you can prepare with appropriate financing or reduction of expenses.  You need to know that you will have enough cash to pay suppliers, employees and taxes on time.  The cash flow forecast will also help you to identify if there is an issue with accounts receivable (customer payments).

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4 Leading Trucking Industry Trends For 2019

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The trucking industry is experiencing quite a bit of growth right now, largely fueled by e-commerce. While this is good news overall, it also means you need to be prepared to meet the demands of retailers and consumers. The following are four of the top trucking trends for 2019 to help you prepare.

 

1. Driver Shortage

One of the biggest challenges facing the trucking industry right now is the lack of qualified drivers. At a time when the demand for freight is growing, older drivers are retiring with not enough younger drivers to replace them. There are several reasons for this including long hours and the grueling nature of life on the road. Transportation companies must find incentives to encourage more people to choose driving as a career. Otherwise, the driver shortage could have a harmful effect on the entire economy. Read more

3 Key Trends That Will Drive Business Success in 2019

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3 Key Trends That Will Drive Business Success in 2019As you start preparing for the coming year, it’s important to take a close look at the trends that will impact your business in 2019. In order to satisfy your customers and stay ahead of the competition, you should identify the developments that will make the most difference to your business and are affecting your industry. The following are three broad trends that may have great bearing on your business success in 2019.

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Purchase Order Financing vs. Invoice Factoring

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P.O. Financing vs Invoice FactoringMany question the difference between purchase order financing and invoice factoring.  Here we will explain the difference and when each form of financing is used.

Purchase Order Financing

Purchase order financing is for importers, wholesalers, and distributors of goods who receive a purchase order (PO) from another business, and need financing to pay their supplier or manufacturer for the finished goods.  As an example, we’ll use a toy company that is selling to a big box retailer.  The toy company receives a PO from the big box retailer.  Read more