News
5
min read

Tips for Better Cash Flow in Your Small Business

Tips for Better Cash Flow in Your Small Business
Published on
August 5, 2024

The real superheroes of America are blue collared; Handymen, Home Service Technicians, and Small Businesses. But while you build America with your blood, sweat, and elbow grease, don’t forget to keep an eye on your bank balance. Here’s a pro-tip to get the most value out of your cash flow.

Use The Fastest Way To Accept Payments AND Access funds

Most payment methods might process payments instantly, but you’ll still have to wait 2-3 days to see the money in your account. At ScanPay, we offer our heroes the fastest way of accepting payments and accessing funds from your customers today. Just 2 minutes is all it takes to get payments from your customers, directly into your ScanPay banking account. Use your money right away with the ScanPay Visa debit card or withdraw as cash for free at over 55,000 ATMs. If instant payments from customers are not your primary concern, you can still use ScanPay to always offer the most set of payment options to your customers. It’s got all the ones your customers would like to select from.

Quick Tips If You Already Use ScanPay

Pay Important Bills First

It’s great to commit payments to all suppliers together, but it may deplete your cash flow. An unforeseen delay in payments may strain your business relationships. Simply review your bills, sort them based on your priorities and pay the essential ones first. Remember to scan your business relationships for early payment discounts and steer clear of late payment penalties.

Find A Flexible Supplier Instead Of The Cheapest One

Business is as much about trust and relationships as about professionalism. Always discuss payment terms with suppliers before making a choice. Suppliers offering the lowest prices may not necessarily be the most flexible.

Offer Credit With Convenience

If your nature of business requires you to offer credits to your customers, try and show them the flexibility you can offer. The easiest way to encourage faster payments from them are to reward quick-paying customers with discounts. Your customers can also access financing through ScanPay’s integration with Klarna. Customers pay in 4 interest-free installments, but you get the entire amount instantly.

The Tip You May Just Need Right Away If You Are Yet To Switch To ScanPay

Get Access To A Line Of Credit

While using ScanPay is a no-brainer for better cash flow, another option is to get a line of credit. The upside is quick access to funds for capital investments, but the downside is the risk of future repayments and interest costs in low cash flow situations.

Weekly newsletter
No spam. Just the latest releases and tips, interesting articles, and exclusive interviews in your inbox every week.
Read about our privacy policy.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

RELATED POSTS

The Upsides of Mobile Payment Technology for BusinessesThe Upsides of Mobile Payment Technology for Businesses
News
5
min read

The Upsides of Mobile Payment Technology for Businesses

In 2020, mobile payment technology collectively welcomed 6.5 million users, most of whom were Gen Z and millennials. They’ve streamlined the technological aspect for several small businesses and professionals.
The Value-adding Factors of Mobile POS SystemsThe Value-adding Factors of Mobile POS Systems
News
4
min read

The Value-adding Factors of Mobile POS Systems

Mobile POS systems have, by and large, replaced cash registers and manual bookkeeping. These innovations have reduced human error, oversight, and fraudulent activity for smaller businesses that previously lacked a proper payment gateway. And that’s not all these apps have done.
Tips for Better Cash Flow in Your Small BusinessTips for Better Cash Flow in Your Small Business
News
5
min read

Tips for Better Cash Flow in Your Small Business

The real superheroes of America are blue collared; Handymen, Home Service Technicians, and Small Businesses. But while you build America with your blood, sweat, and elbow grease, don’t forget to keep an eye on your bank balance.