Financial managers and their teams still need to forecast, manage cash and make spending decisions despite the uncertainties of the economic world around them. Expert predictions range from a slow recovery to another year of slowdown. In an article on About.com’s Business Finance guide entitled ‘5 Financial Resolutions for the 2012 New Year for Business Owners’, there is guidance for those professionals managing the money in whatever size of business.
Cash flow management is seen as even more important than ever, particular liquidity, with the article advising holding more cash than normal to manage short-term demands. With a similar eye on outgoings, it also advises delaying major purchasing decisions on such as plant and machinery and to ‘Institute Smart Cost-Cutting Strategies’.
The article urges creativity when looking at costs in areas such as advertising or capital purchasing - rather than just cutting something out. See how your financial resolutions compare by reading the full article at http://bizfinance.about.com/od/smallbusinessfinancefaqs/tp/5-financial-resolutions-2012-new-year-for-business-owners.htm
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