Gloria Kong - who owns the Kong Dental chain of dental clinics in Singapore, recommends business owners to plan to have cash reserves equivalent to 3-6 months of their monthly operating expenses, before they start their operations. You must have sufficient cash in the bank to pay your suppliers, employees and landlord in a timely manner even when sales are low.ĭr. While your business may be profitable on the books, you need to consider the cashflow of your company too. Find out more what you can do to keep your ‘business lifeblood’ flowing, with insights from our panel of successful business owners and financing experts.Īre businesses which show a net profit on their profit and loss statements always in the pink of financial health? Well, in many cases, the answer is no. Welcome to the second of our two-part series on ‘Managing Your Business Finances’ in which we touch on the importance of cashflow management.
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