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CASH FLOW WOES OF 2006: BEATING THE UPs AND DOWNs OF BUSINESS
Dateline: August 7, 2006 ... Alexandria, VA
Contact Name: Karlene S. Robinson
Contact Phone: (703) 372-3248
E-mail: info@kprfundingsolutions.com
Web Address: http://www.kprfundingsolutions.com
ALEXANDRIA, VA - August 7, 2006 - With more than half of the year
2006 gone, businesses must re-evaluate their cash flow strengths
and weaknesses. Most businesses will either gain or lose profits
during the final months of the year, so preparation is a must
either way.
Studies show that cash flow, or a lack thereof, can make or break
a business. For 2006, there are some definite cash flow woes,
and businesses across the nation must avoid these if they are
going to be around for 2007.
Karlene S. Robinson of KPR Funding Solutions, LLC, reveals these
woes and some quick tips to improve cash flow for the remainder
of 2006. Study these tips to find ways to improve cash flow on
either side:
1. Build a Cash Reserve: Whether a business is just
starting out or fully-established, a cash reserve is a
must. This is simply a set amount of cash put back into
savings for emergencies.
A rainy day, a sales slump, a natural disaster that
leaves the business closed for several days (or even
weeks), health, or even personal issues can occur when
least expected. Robinson encourges business owners to
save enough operating cash for the business to last at
least several months when hard times hit.
2. Re-evaluate Business Cash Movement: Cash moves in and
out of th business bank account for items such as
invoicing, outgoing bills, cash jobs and payroll.
Business onwers need to know where their cash is going
and where it is coming from.
One example is to re-evaluate invoicing techniques.
Studies show that invoicing for long periods of time can
result in non-payment. There is only a 70 percent chance
to collect on an invoice that's more than 60 days old.
Invoice deadlines may be able to be changed and small
discounts can be offered to clients for early payment to
increase overall cash flow.
3. Inventory Check: Business onwers should take a look
at their inventory list to see if there are products that
could be moved faster by selling to another vendor or at
a discount to present customers. Inventory that sits too
long could become that much-needed money right now!
4. Energy Costs: Every business must look at energy
costs as a serious cash vacuum after the astounding rise
of oil and fuel prices of 2006. Whether it is the cost to
operate machinery, heat/cool the business facility, or
buy fuel for company vehicles, thousands of dollars can
probably be saved by analyzing the current energy
consumption methods.
Robinson suggests opting for more fuel-efficient vehicles
and to be sure taht the business office, warehouse or
factory uses the most energy- efficient heating and
cooling systems available on the market. Examine the
facilities for areas that may be causing a loss of
energy.
5. Debt Management: Manage the business debts wisely.
Refinance at lower interest rates. Keep payments up-to-
date so no penalties will have to be paid. Renegotiate
payment plans that are hurting your cash flow. Debt does
not have to hinder the business. It can be managed and
overcome if the effort is put forth.
"Entrepreneurs can keep their company afloat when difficult times
hit if they take these steps to improve cash flow. Adequate cash
flow is the key to long-term success," states Robinson.
About KPR Funding LLC
KPR Funding is a consulting firm that provides funding options to
help businesses with their cash flow. More information about
managing and improving cash flow can be found at their website:
http://www.kprfundingsolutions.com
For an interview or more information, please contact Karlene S.
Robinson by phone at (703) 372-3248 or by email:
info@kprfundingsolutions.com or visit the website at:
http://www.kprfundingsolutions.com
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