Get Started Today!  321-259-5500

croom new

If You’re Struggling Due to Cash Flow, You Aren’t Alone

If You’re Struggling Due to Cash Flow, You Aren’t Alone

Between you and me, how is your business doing financially? If you answered with something along the lines of “not great,” you are certainly not alone. Cash flow is an issue for businesses all around the world, as a recent report from Intuit makes all too clear.

Intuit QuickBooks released the results of a study performed to establish where small businesses stand as far as their cash flow is concerned. This study, entitled The State of Small Business Cash Flow, revealed that cash flow issues have had a significant impact on businesses. Having surveyed 3000 small businesses with fewer than 100 employees in the United States, United Kingdom, Canada, India, and Australia, Intuit was able to identify a few major business concerns.

Common Issues
According to this survey, 61 percent of small businesses have regular issues with their cash flow, with 42 percent of this group having had a cash flow issue within the past year. Of these businesses, 32 percent have been short on capital - rendering them unable to pay for one of their other obligations, like loans, vendors, or even their employees. Over two-in-five small business owners have faced the prospect of being late with their employees’ payments, while 32 percent have been forced to do so.

In the United States specifically, insufficient cash flow has contributed to considerable missed opportunities. Businesses have lost an average of $43,394 by passing on projects or sales thanks to these insufficiencies, more than half having lost at least $10,000.

Clearly, there’s an issue here.

The Underlying Cause
According to the survey, small businesses in the U.S. average a total of $53,399 in outstanding receivables. That’s $53,399, owed to the business, that has yet to be paid. On average, businesses wait 29 days before their payments are received.

It is this delay that causes the major issues outlined above in businesses.

If you’re tired of waiting around to be paid for your services, reach out to TotalCareIT™. We have the expertise to identify and implement the solutions you need to efficiently invoice your clients and customers, providing them with flexible payment options. Reach out to us at 321-259-5500 to learn more!

Fishing for Answers to Keep Phishing Attacks from ...
Tip of the Week: Android Pie Tips and Tricks
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Sunday, March 24 2019
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Our 10 Benefits Whitepaper
See The Value of Managed IT Services!
Download our simple 10 Benefits of Managed IT Services Whitepaper.

Download Now!

 

Free Network Consultation
Sign up today for a FREE Network Consultation
How secure is your IT infrastructure?  Free Evaluation!

Sign Up!

Newsletter Sign Up

  • Company Name
  • First Name *
  • Last Name *

      Mobile? Grab this Article!

      Qr Code

      Tag Cloud

      Security Tip of the Week Technology Best Practices Cloud Privacy Hackers Business Malware Business Computing Email Hosted Solutions Internet IT Services Productivity Data Computer Network Security Backup Mobile Devices Software Productivity Microsoft Hardware Workplace Tips Ransomware Managed Service Provider Google User Tips Windows 10 Efficiency Tech Term Smartphone Android Business Continuity Innovation Disaster Recovery Small Business Cloud Computing Server IT Support IT Support Encryption Social Media Data Management Business Management Smartphones App Upgrade Network Data Backup Browser Managed IT Services Communication Windows Phishing Artificial Intelligence Data Recovery Office 365 BYOD Facebook Outsourced IT Passwords Internet of Things Apps Employer-Employee Relationship Windows 10 Office Paperless Office Gmail Big Data Save Money Microsoft Office Remote Monitoring Managed IT Services Hosted Solution Government Mobile Device Management VoIP Vendor Management WiFi Holiday Cybersecurity Two-factor Authentication Spam Collaboration Office Tips Firewall Wireless Technology Saving Money Alert Recovery Wireless Miscellaneous Vulnerability Risk Management Robot Wi-Fi Antivirus Money VPN Document Management How To IT Management Chrome Password Infrastructure Word Quick Tips Scam Virtualization Budget Tip of the week Avoiding Downtime communications Work/Life Balance IT solutions Managed Service Social Website Content Filtering Bandwidth Automation Hacker Customer Service Cybercrime Apple Education Tablet Hard Drives Bring Your Own Device Legal SaaS Politics BDR Mobile Device Twitter Tech Support Settings Computing The Internet of Things Blockchain Downtime Maintenance Storage Remote Computing IT service Information Machine Learning Analytics Customer Relationship Management Applications Healthcare Compliance Business Technology Going Green Unified Threat Management Data storage Virtual Reality Sports Computers Best Practice Private Cloud Search Data loss End of Support Printing Outlook Heating/Cooling Management Health Administration Computer Care Mouse Websites Lithium-ion battery Identity Theft Upgrades Safety Hacking File Sharing Operating System Electronic Medical Records Presentation Training Net Neutrality Business Owner Physical Security G Suite Botnet Augmented Reality Competition Point of Sale Chromebook IBM Users Access Control Google Drive HIPAA Router Cortana User Patch Management Telephone Systems Cost Management Taxes Monitors Virtual Desktop YouTube eWaste Running Cable Unified Communications Automobile Data Security How To Samsung Server Management Mobile Security Business Intelligence Solid State Drive User Error LiFi Virtual Private Network Network Management Regulations Remote Monitoring and Management Bitcoin Administrator Techology Cooperation Computer Repair Undo Consulting Cleaning Firefox Break Fix Writing Notifications Recycling IP Address Analyitcs Lenovo Hotspot OneNote Notes CCTV Black Friday Black Market Star Wars Instant Messaging Development 5G Tech Terms Meetings Multi-Factor Security Mirgation Nanotechnology Public Speaking Files Experience iPhone Mail Merge Touchscreen Microsoft Excel Mobile Office Zero-Day Threat Windows 8 Cabling Unified Threat Management Staff Managed Services Provider Dark Web Retail Crowdsourcing Business Growth Marketing Superfish Language Refrigeration Employee-Employer Relationship PowerPoint Troubleshooting Digital Cyber Monday Network Congestion Assessment Finance Cables Theft Webcam Google Calendar Humor Chatbots Update Screen Reader Read Only Deep Learning Gadgets Address Company Culture Human Error Buisness Hacks Printer Wearable Technology Motherboard E-Commerce Hiring/Firing Shortcut Social Engineering Laptop Alt Codes Google Maps Database Computing Infrastructure Remote Workers Professional Services Co-managed IT Save Time Spyware Smart Technology Display Processors Internet Exlporer Authentication Permissions 3D Printing Wires Financial Information Technology Entrepreneur Legislation Identity Smart Tech Printers Supercomputer Managing Stress Permission Trending Travel Disaster Managed IT Features Staffing VoIP FCC Halloween Typing Error Voice over Internet Protocol Networking Alerts Wasting Time Statistics Distributed Denial of Service Hard Drive Authorization Servers Fraud Unsupported Software Application Fun Security Cameras Google Wallet Web Server Corporate Profile Comparison Dark Data Emoji Connectivity Bookmarks Identities IT Budget Enterprise Content Management Test CIO Current Events Motion Sickness Uninterrupted Power Supply SharePoint Google Docs Help Desk Modem GPS Time Management Title II Law Enforcement Scary Stories Cryptocurrency Windows 7 Backups Licensing Personal Information Monitoring IT Consultant Bluetooth Managed IT Service Cache Employees Digital Payment Mobile Data Relocation ROI Drones Environment Cameras WannaCry Specifications Social Networking IoT Favorites Mobile Computing Law Vulnerabilities RMM Hard Disk Drive Downloads IT Technicians Cookies Electronic Health Records Knowledge Tracking Online Gadget Flexibility CrashOverride Emergency Regulation USB Domains

      Latest Blog Entry

      As unfortunate as it is to hear, science has pretty definitely kyboshed the notion that multitasking works. However, while multitasking may not actually have any true benefits to productivity, this doesn’t mean that there aren’t any ways to accomplish more in less time. Toda...

      Account Login