Many businesses declare bankruptcy every day. The American Bankruptcy Institute

Question

Many businesses declare bankruptcy every day. The American Bankruptcy Institute says on average about 26,000 businesses went bankrupt each year from 2013 to 2017. This statistic does not include the number of small businesses that just close their doors and walk away from their failing businesses. There are some typical reasons why businesses close, but in most cases, they boil down to neglecting the cash flow management or negative cash flow.

Based on the information above, discuss different strategies that businesses can implement in order to improve their cash flow position.       

Explanation / Answer

These are the followinh ways through which business can improve its cash flow position-

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