It is a courageous and credible decision to give up the certainty of a salaried wage paid on the X day of the month, every month, in return for the responsibility (and freedom) of running your own show.
However, managing small business cash flow can sometimes be a juggling act, and it is certainly stressful at times particularly if you have staff relying on you to in to turn pay them. This stress is naturally exacerbated ten-fold if you count among your clients a minority group of non-paying customers. The question is; do you hound them for payment and risk your future relationship or suffer in silence whilst raiding your own coffers?
Our experts in managing small business cash flow and clients have put together their top tips for managing this below.
