As cities across the country start to lift COVID-19 restrictions, businesses are gearing up to resume operations. Starting back up may be challenging but sustaining cash flow the country reopens may be a bigger obstacle. Fortunately, there is a way to ensure a smooth transition so you can ensure success.
Obstacles to Relaunching Businesses
If your business is ready to start taking customer orders, there are a few things to think about before relaunching. After the first round of sales are made, how will you sustain operations? If your business issues invoices with payment schedules of 30 days or longer, then you could be waiting upwards of a month to see revenue. During that time, overhead expenses still need to be met, employees need to get paid, inventory and materials for production must be purchase, and much more. If sales are high, but the revenue is tied up in unpaid receivables, a business can run into ser