Cash flow has been looming on the back of small business owners’ minds as the process of re-opening the economy begins. With businesses essentially on pause since mid-March, many business owners are now facing a new fear of how to handle their accounts receivable and continue to operate their businesses.
Krista Walsh, owner of KC Collect and author of 20 Tricks, Tips & Techniques to Successful Debt Collection understands the stress of collecting from customers during this pandemic.
“You have to handle this situation carefully. We are award that the small businesses are struggling and some are uncertain if they are re-opening. However, at the same time businesses are still owed money from services prior to the pandemic. Creating and maintaining cash flow is going to be pertinent in the weeks and months ahead for survival. Poor credit management is the top reason that businesses fail.”
20 Tricks, Tips & Techniques to Successful Debt Collection is available for free to Chamber members here.