A business credit card is a useful tool for helping you get the cash you need for essential expenses. However, if you don’t use it the right way it can cause you some serious problems. The following are some of the most common financial mistakes that business owners make with their credit cards. Make sure you don’t fall into any of these traps yourself!
Riviera Finance provides many tools to help your business improve cash flow and grow faster. One of these is invoice factoring, where you obtain immediate cash based on purchase orders and outstanding invoices. However, in certain situations, conventional invoice factoring may not be enough.
A shortage of working capital can be a serious problem for a business. To a great extent, your cash flow determines your ability to grow. Bank loans can help in this regard but many smaller businesses have difficulty securing a line of credit large enough to fund substantial growth. One solution to this problem is invoice factoring, a creative financing option that lets you receive cash immediately for invoices. Let’s look at some of the advantages of invoice factoring and how it can enhance cash flow and spur growth for your business.
2017 has been a great year for Riviera Finance. We’re dedicated to helping our customers not only with cash flow solutions, but also with general business tips and best practices.
We’ve shared 50+ blogs in 2017. So, without further ado, let’s look at the most popular blogs this year:
- Factoring Costs and Benefits
- Developing a Cash Flow Analysis
- Invoice Factoring as a Backup Source of Cash
- Top 7 Billing Best Practices
- Best Ways to Upgrade Cybersecurity For Your Small Business
The way you manage your accounts payable has a major impact on your business. It’s essential to understand the state of your cash flow.
There are several points to keep in mind in order to stay on top of business accounts payable.
- Create a system. Make sure you have a process for filing and saving all of your invoices. It’s best to keep both printed and digital copies of everything for reference.
- Track expenses weekly. It’s easier to keep track of expenses on a weekly rather than a monthly basis.
- Pay invoices early. When you pay early, you can often get more favorable terms from creditors.
- Seek ways to improve your cash flow. You may be able to cut back on certain expenses or find ways to increase efficiency.