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During and after any period when economic activity is depressed, companies that survive the process are those that manage their cashflow effectively.
A number of businesses will be in the fortunate position of heading into the current COVID-19 crisis with adequate cash reserves to see them through, many others will not.
In both cases, minimising expenditure and maximising cash inflows should be the name of the game.
Last week we stressed the importance of gathering in monies due from customers. This week we offer a number of additional ideas to bolster cash inflows. They are:
You can also achieve the same benefits by reducing expenditure. See our further article on this aspect in our newsfeed next week.
And we can help. Call if you want to brainstorm options that you may have, to convert assets into cash.