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For most business owners, the current crisis has dealt a double whammy. They not only have to worry about the health and safety of their family members, but also worry about their business and ensure ways to keep it afloat. As decline in sales or a total stop in production hits home, there are now fears of business failure.
So now is the time to take drastic measures and not panic. The focus, right now, should be to maintain the necessary cash reserves to keep the business going as well as work on improving cash flow. Here are some important strategies to consider.
To survive during this crisis, it’s important to take advantage of the downtime. You cannot sit down and wait for the economy to turn around. Ask yourself tough questions, make course correction, look for alternative lines of revenue and ways of survival, build your cash reserves and plan now for the post-Corona future. With a positive attitude, out-of-the-box planning and strong leadership, your business will survive.
The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.
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