what is the importance of cash management to a small business success?

Question

plz help me to get ur opinonion about this answer?

Answer 1

It's critical. Cash flow is, in my opinion, the #3 most important key to small business success. #1 is treating the business as a real business, and not a hobby. #2 is marketing and sales.

Answer 2

Umm... nowadays, Asian restaurants don't really make much money since there are sooo many of them and growing number of buffets. Small buisnesses don't really make money and tend to close early. The only way for small restaurant to grow is to make REAL food that are CHEAP. That's the two main thing for all good restaurants: yummy and cheappy. Most of the good restaruants I 've been to, espacially the Asian ones that succeed are cheap but traditional (and not Americanized). I'm afraid your seafood or steak bar won't be any good unless they're cheap to begin with... because steak and seafood tend to be dominated by bigger chains like the Papa's. Sorry, but few young adults suceed in opening good restaurants... Also location is very important to any restaurants... better to open in say.. Las Vegas than in the outskirts of Los Angeles next to the highway.

Answer 3

There is a basic rule for any business:

"Cash is King"

The more management you show here, and the better cash flow you have from year to year, the more attractive the company will look, and arguably, be.

If you cannot manage your cash, then your overall management ability will be called, sometimes unfairly, into question.