Boosting Cash Flow: Our Top 5 Cash Flow Improvement Strategies
According to ASIC, inadequate cash flow or high cash use ranks as one of the top three causes of small business failure, with a staggering 47% of failed businesses citing this as the reason in recent years. In this article, we’ll explore the significance of cash flow management and provide actionable strategies to fortify it within your practice, empowering you to navigate financial challenges with confidence. Understanding Cash Flow Cash flow represents the movement of money into and out of your veterinary practice over a specified period. It encompasses incoming revenue from services rendered, product sales, and other sources, as well as outgoing payments for expenses such as salaries, supplies,
