If you have a cash shortage with your business, it is important to have a strategic plan to survive and reverse the shortage. If you don't have a plan in place, you could find yourself falling short on money for expenses like payroll. In order to prevent a cash flow shortage, you need to take action ahead of time. Here are a few steps you can take to prevent or survive a cash shortage flow. Keep in mind that over 80% of businesses fail due to a cash flow shortage crisis, so putting some of these tips in action may protect you in the long run!
Cathy Becker, CPA, Senior Controller and Project Manager here at AccountingDepartment.com, is speaking at AICPA Engage.
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