At a high level, the cash-flow management process appears straightforward: money flows in…and out. However, for small business owners like Tina Roberts and 600 others surveyed for the 2012 Small Business Cash Management Survey conducted by Visa, the process of managing everyday finances and planning for the future keep business owners awake at night.
So, what is one way small business owners overcome this stress? Electronic payments. Survey results show that nearly seven out of ten small business owners (69 percent) who accept and/or use payment cards say cards have improved their cash management process, up from 56 percent since the survey was last conducted in 2010.
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“Successful business owners know that a key component in keeping a business afloat is maintaining a keen eye on the financials and knowing how to manage the peaks and valleys of cash flow,” said Janet Zablock, head of Global Small Business at Visa Inc. “Those who accept electronic payments are reaping the benefits of better financial control, giving them the ability to focus on customer satisfaction and retention.”
For more information on the 2012 Small Business Cash Management Survey, visit http://corporate.visa.com/newsroom/media-kits/small-business.shtml. To learn more about Visa’s suite of small business products and services, please visit www.visa.com/smallbusiness.
Note: The survey, conducted by Survey.com in May 2012, polled 600 small business employees/owners with a role in cash management at companies with annual revenue of less than $25 million in the U.S. and Canada. Research is intended for informational purposes only and should not be relied upon for financial or other advice. When implementing a new strategy or practice, you should consult your financial advisors.
Posted by: Janet Zablock, Head of Global Small Business, Visa Inc. on September 26, 2012 at 9:58 am