It’s hardly a secret lots of entrepreneurs are concerned about their cashflow. In fact, new research has revealed a quarter of small-business leaders are kept awake at night because they worry about their company’s finances.
Having surveyed 502 senior decision makers in SMEs, American Express also revealed 46% feel that the challenges associated with cashflow steal their focus from expanding their organisations and to market them. Not only are 25% kept up at night worrying about their finances but 24% are also experiencing stress symptoms for the same reason.
And these concerns don’t come out of the blue. The researchers revealed a third of small firms that have missed a payment deadline have had suppliers withhold goods or services. Additionally, 28% have had their relationship with suppliers tested because of their cashflow issues and 35% have had to cough up additional late payment fees for missing deadlines.
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