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How to Finance Purchases & Increase Your Cash Flow
Not many entrepreneurs know that a credit card can be good for your business, BUT only if you know how to use it. The biggest benefit of the credit is it can help to boost your cash flow by providing immediate access to financing for your business's short-term needs, such as paying your vendors or suppliers on time, while you wait for revenue to come in.
*** Looking for a Business Credit Card? We've compared the Top 4 Business Credit Cards, including Standard Bank, FNB, etc.: Top Business Credit Cards for Small Businesses in South Africa*** Here's how to make the best of your credit card:
Make use of the interest-free days – to save money, and pay off the balance before the end of the interest-free period.
Plan your spending – it will help if you know exactly how much revenue is expected to come into the business over the next 15, 30, 60, and 90 days.
Track your everyday business expenses like rent, utilities, and freelance contractors.
Have multiple cards on the same account so that you can manage employee expense claims and other expenses for the office separately.
READ MORE: Business Credit Card Mistakes You Are Making
In this week’s newsletter:- Smart Ways to Improve Your Cash Flow- Find the best Business Finance - here's How- Get 50% OFF Serv's yearly Premium Plan! - Free download: The SME South Africa Tech Buyer's Guide
Have a great, productive week ahead!
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ALSO READ: 4 Ways Real Entrepreneurs Are Using Their Websites to Grow Their Businesses During COVID-19
Want to take your business to the next level? Let us help you find the best Business Finance.
Choose from:
Purchase order/Tender finance – Access financing to fulfil a large purchase order from a government or corporate client.
Working capital finance – Boost the working capital available to your business to cover day-to-day trade and operations.
Unsecured loan – Get access to a loan not backed by collateral or security.
Bridging finance – Cover immediate costs while waiting for your next cash flow boost.
Inventory finance – Get a loan to help with the purchasing of products for sale.
Improve Your Cash Flow – Read These Useful Blog Posts
4. Template: How to Create a Cash Flow Forecast (available in PDF or Excel format)
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