Need additional cash flow for your small business or company? There are some strategies that can help you increase working capital for daily operations, special projects, or other opportunities that you and your business face.   

Consider using these 7 ways to improve cash flow for your business or brand:

1. Stagger Payments

Try to stagger payment deadlines for your bills and expenses, so they are not due at the same time, leaving you broke. Prioritize what you pay first, always the payroll and rent, before making other payments to preserve cash flow.   

2. Negotiate Prices

Negotiate prices with suppliers. If you can’t get a lower cost on what you need, try asking for flexible payment options- which can also help improve cash flow.   

3. Collect Payments

Encourage customers to pay their bills and get your money fast. Ways to do this include asking for deposits upfront, offering discounts, initiating incentives, and invoicing your customers promptly to encourage quick payment.   

4. Use Credit

Use a business credit card for what you need. The benefits are two-fold: first, you conserve your cash, and second, you build a credit history. Make payments promptly so it is a favorable one! Business credit cards are a great way to keep track of expenses throughout the year for tax time, too.   

5. Establish Credit Lines

Ask a lender about a business line of credit to help preserve your cash flow and to keep your business fluid between payment cycles.   

6. Use Technology

Do you accept payments from customers online? If not, you should. This is how many consumers pay their bills and is one more way to encourage them to do so. If feasible, offer an incentive for automatic bill-pay services.   

7. Cycle Payroll

Maybe changing your payroll cycle would help with cash flow. Make sure that the frequency you choose to pay is permitted by local Department of Labor laws.   

Find out more about increasing cash flow from KMS Funding. We work with a network of alternative lenders to find financial solutions for small businesses and entrepreneurs widely. Call or visit today to learn more.