By Rich Bond
Running out of cash is unnecessary.
A business of almost any size should be tracking monthly cash flow and noticing trends. If you have variable cash flow and significant expenditures, you need to do cash forecasts.
If you own a bankable business, you can get a loan to cover any cash shortages. But if you are perpetually short of cash, you need to take a long hard look at your business.
A good Controller should be doing this for you. If they aren’t, we can help you evaluate alternative strategies to prevent cash shortages from happening.
