Managing cash flow is essential for any business, especially during tough economic times.

Here are seven tips to help you manage your cash flow better:

‍

1. Invoice faster and chase outstanding receivables.

‍

2. Manage your payables, negotiate payment terms, don'tpay too early but don't pay too late to nurture your relationship with your suppliers.

‍

3. Track your inventories and action strategies for slow movers.

‍

4. Review your sales strategy and look for ways to boost revenue.

‍

5. Monitor your margins to ensure profitability.

‍

6. Reduce expenses.

‍

7. Create a cash flow forecast to help you plan ahead,anticipate shortages and make informed decisions.

‍

By implementing these tips, businesses can have a better control over their cashflow and make informed decisions to improve their financial situation.

Don't wait until it's too late,start managing your cash flow effectively today.

‍