Running a successful small business takes a lot of time, patience and knowledge. You need to keep up with the changing society and industry’s most recent trends as well as the newest studies. Small Biz Daily has easily broken it down for you to the 11 things you need to know and understand as a small business owner. Learn how to manage your payments from customers and vendors, how to take advantage of Apps and much more.
1—Late Payments Can Cripple Your Business
Fundbox, a leading cash flow optimization platform for small businesses, just released findings from a survey conducted to better understand the microeconomic impact of unpaid or late payments.
According to recent Fundbox studies, 64% of SMBs get paid late—and that the total in unpaid invoices across all U.S. small businesses is about $825 billion. Fundbox designed this latest study to find out what happens to businesses when paid late, where spending cuts are made first, how it affects employees, and what would happen if they were paid on time.
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