Finance

You can’t predict, but you can prepare for a 2024 environment full of uncertainty and potentially extreme outcomes.

A cash reserve is an essential component of a resilient business. It is your most important financial tool to ensure smooth operations.

Recessions increase the number of net-30 on invoices that turn into bad debt, but a simple method can catch them before they become a cash flow problem.

Tips and tools to help you navigate increasing inflation, interest rates and risk.

Companies in the construction industry are facing one of the most complex business environments in the past two decades. Get actionable suggestions to emerge from five current economic challenges as a stronger business.

Building products supplier ODL Inc., which specializes in decorative and clear door glass and other privacy solutions, has named Dan Volkema vice president of finance, according to a company statement released March 17, 2022.

Architecture firms reported another month of extremely strong business conditions in June, with an ABI score of 57.1, with any score over 50 indicating billings growth.

Total construction starts lost 7 percent in June, slipping to a seasonally adjusted annual rate of $863.6 billion, according to Dodge Data & Analytics. All three major sectors―residential, nonresidential building, and nonbuilding―pulled back during the month.

An owner can often get a good idea if their company could benefit from refinancing by asking four targeted questions.

The Bottom Line We are in a unique time where there is uncertainty but also access to relatively cheap financing. This environment allows companies to improve their safety net, and potentially profits, by leveraging financing. It also allows them to improve cash flow by leveraging vendor…

Getting a large order can be either a blessing or a source of major problems for a company. It’s an obvious blessing if the company has the resources to fulfill it. However, if the company doesn’t, large orders can create havoc. It must scramble to find the resources to fulfill it. This task is…

Always avoid clients who are in a shaky financial position. They are prime candidates for bankruptcy. This advice may sound obvious, but few companies do anything about it until it is too late. This article presents strategies to detect and avoid potential client bankruptcies. But before…

There is growing concern that the United States is entering a recession. The decade-long recovery may be losing steam, and the economy may experience a contraction. At least, that is what some experts, and many TV pundits, say. Conversely, many experts are looking at the same or similar data and…

The primary responsibility of a business owner or company manager is to make sure that employees are always paid on time. Nothing erodes company morale and employee goodwill more than missing payroll.  In my experience financing distressed businesses, few companies ever recover from missing…

One strategy to entice clients to pay sooner is to offer an early payment discount—usually a 2 percent discount if they pay within 10 days. A previous article in the October 2015 issue, “When to Offer Early Payment Discounts,” addressed considerations for suppliers. This article presents the…