Working capital is the money your business needs to finance its day-to-day operations. Cash flow problems exist when there isn’t enough working capital in the business to cover costs while you’re waiting to be paid.
When unexpected bills arrive, they can have a challenging impact on your business cash flow. You may find yourself dipping into your personal savings or taking out additional finance.
But with a bit of planning, you can help make sure you’re ready for unplanned expenses. Here are seven tips for managing your cash flow that can help take the sting out of unexpected costs: