CASHFLOW MANAGEMENT DURING THE HOLIDAY SEASON

The holiday season can be a whirlwind for businesses, but it doesn’t have to overwhelm you. Effective holiday season budgeting is crucial for maintaining your peace of mind.

Here are some essential cash management tips to keep your business afloat during the festive season:

1. Forecast Your Financials: Start by estimating your expected sales and expenses during the holiday period.

2. Set a Budget: Create a budget that outlines your business spending limits, and stick to it.

3. Negotiate Payment Terms: Work with suppliers to possibly extend payment terms, easing cashflow stress.

4. Monitor Inventory: Use inventory management tools to avoid overstocking and ensure efficient use of resources.