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16/11/2009 -
There is more to a healthy cash flow than a balanced accounting sheet - during difficult economic times, when many clients and customers are having trouble paying their bills, it takes a few extra measures to ensure that cash flow remains in a good position. One of these measures, according to the Wall Street Journal, is for businesses to make it easy for customers to pay.
To do so, small businesses that have a significant amount of payment processing transactions on the go or in the field should consider mobile credit card processing terminals, said the newspaper.
Pat Jackson of U.S.-based Jackson Comfort Heating and Cooling Systems did just that, allowing field workers to use credit card processing machines in a customer's home or at a work site.
"It's one of the best things we've done by far," Jackson told the Journal. "It's speeded up our cash-flow deposits… [and] customers are impressed, which is great."
A recent survey from Sage North America found that 51 percent of Canadian small businesses believe cash flow is one of the two most important aspects of financial management that are important to a company's success.
