More than 60% of small business owners say they’ve experienced cash flow challenges, according to recent research by QuickBooks . The majority of small business owners who experience those issues (89%) say cash flow challenges had a negative impact on their business. More than a quarter (27%) say not getting paid according to the agreed upon payment terms is a primary contributor to their problems with cash flow.
Long payment terms and unpaid invoices can lead to cash flow shortages when you need to do things like pay bills and vendors. When cash runs low, you may have limited options to get the money you need. A long-term business loan might not be the optimal solution for your immediate cash flow needs. And if cash flow is a recurring issue, traditional loan options may be limited.
In a perfect world, you would get paid upfront for every invoice and avoid stressful cash flow shortages. In the real world, you can request Get Paid Upfront—a new invoice financing tool available through QuickBooks®.1