The survey states that 61 percent of small businesses have regular issues with their cash flow, with 42 percent of this group claiming that there had been a cash flow issue within the past year. Out of all businesses surveyed, 32 percent indicated they have been short on capital, leaving them unable to pay for certain obligations, be it payroll, loans, vendors, etc. Over two-in-five small business owners have also faced the issue of paying employees late, while 32 percent have actually had to do so.
In the United States, insufficient cash flow has led to missed opportunities for many organizations. Businesses have lost an average of $43,394 by passing on projects due to lacking sufficient funds. More than half also lost at least $10,000 due to the loss of such opportunities.
This survey indicates that small businesses in the United States average a total of $53,399 in outstanding receivables. This is money that is owed to businesses. Businesses on average wait 29 days before their payments are received, a situation that causes a lot of trouble for organizations that rely so much on their funds.
If you don’t want to waste time and resources waiting for payment for the services you provide, COMPANYNAME can help you put together a system that tracks payments, delivers invoices, and creates flexible payment options. To learn more, reach out to us at PHONENUMBER.
Powered by WPeMatico
At Midnight Blue, we’ve been serving our customers for 15 years. While our 15th year anniversary is going a little differently than we expected, we’re still here taking care of our customers, and we’ll continue to be here for another 15 years–and many more. We look forward to keeping your businesses running, and we look forward to celebrating together soon.