Why is Cash Management Important for Entrepreneurs?
Effective cash management is vital for several reasons: 1. Liquidity: Ensures that the business can meet its short-term obligations. 2. Profitability: Helps in making informed investment decisions that can generate additional income. 3. Risk Management: Minimizes financial risks by maintaining a healthy cash flow. 4. Growth: Provides the necessary funds for expansion without relying heavily on external financing.