Did you know that one of the primary reasons small businesses fail is because of cash flow?  Running out of money is frequently the reason why small companies fail. That’s why it’s wise to properly set up your business finances early on and monitor them often to keep your business afloat (and profitable!) for years to come.  Here are the four best business financial solutions to implement today! 

Include Financials in your Business Plan 

It’s not just about clients, team expansion, and designing your brand; it’s vital to work out what you expect in sales and expenses, and what success means over the next five years. These plans are not only essential for operations, but future funding requests down the line: a lender will look at your business financials and business credit to decide whether you qualify for a business loan. 

Look into Treasury Management Software

How much time does it take to manage your finances? Treasury Management Software (TMS) is used more and more to automate the management of an organization’s financial operations. This software offers a complete view of cash, assets, market data, and financial processes, and captures real-time data so there’s greater financial visibility. Integrating external market and client data within their own data warehouse, Kayenta visually represents accurate financing data with easy-to-use analytical tools. Try it before you subscribe to it: they offer a free month trial for new users!   

Go Online for Lender Options

If you need funding quickly, online lenders are far faster than with banks. For example, Funding Circle offers fast, affordable loan programs with a simple online process and funding in as little as 48 hours. Whether you need to hire new staff, expand your business operations, or grow your product line, a loan from Funding Circle can help!

Always Research and Compare  

The more potential lenders you find, the better your chances of getting a loan that works for your needs. You can compare multiple small business loan options at once with a resource like Fundera. Fundera is the go-to financial resource for every small business—helping you face your challenges, achieve your financial goals, and grow businesses as big as your aspirations. You can visit their website here to get started on comparing loan options.