June 10, 2016
When you run a CNC machine shop there’s always a lot on your plate. You deal with employee issues, job deadlines, working with suppliers and, of course, keeping the pipeline filled with work.
On the business side you probably keep a close eye on your income statement and balance sheet. However one area that’s particularly easy to overlook is cash flow – that is until it’s running low.
Having enough cash on hand to meet everyday demands is essential to your overall profitability. Without sufficient cash flow you may need to dip into your line of credit and pay interest on the money you use. Or you might not be able to pay your suppliers on time, which could cause delays in production or late fees.
So what can you do to maintain adequate cash flow?
When it’s time to add or improve your manufacturing equipment, Gosiger and its financial partner, Connext, will work with you with on purchase or leasing terms that fit your budget and help you maintain good cash flow.