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If you have any questions for Ray or Bill please be sure to enter them in chat.
3 is not true.
2 is false
3rd is false
2 seems to simple of a calculation to be true
Cash conversion cycle can be negative, no?
(That's my question from the definition)
Aren't credit sales cleared within 48 hours?
can you quickly see the difference with 30 day and 60 day terms on this model?
For my business, cc sales typically take 2 weeks before I get disbursement into my business bank account
I would like to ask how one can apply for a line of credit from a bank, especially if a business is relatively new and during this time. Would a business credit card help with purchasing materials and keeping cash on hand?
Typically the banks look for collateral, if it is a small business, the owner likely will be treated as proprietor and bank will run credit report & could even look for the owner’s home as collateral
Even if one’s credit score is pretty robust?
Yes! Ran into this years ago when 3 of us as partners tried to get a credit line from a bank for our startup company even with sales that we were fulfilling
Depends on the type of business, if there’s a plant & equipment that could serve as collateral
Don’t know if this objectionable- Invest Surplus Funds- do with care! Point 1 is key
Can you speak about service based example?
Are there a hard rules of thumb: such as how much percentage of revenues one needs in working capital ? Or it differs by business ? What percentage of annual revenues to keep in cash at all time ?
Thank you Terri - Hello, my name is Sandie Cataldo and I am work with the North Central MA Development Corporation, economic development entity at the chamber of commerce in Fitchburg. We a non-profit organization that partners with SCORE and offers microloans to small businesses unable to secure funding from the banks. we typical work with start ups and those with a lack of colleterial, maybe a credit issue. if you'd like more information please feel free to contact me at email@example.com or 978-353-7600 x 232. https://www.choosenorthcentral.com/
If we don’t get to your question because of time constraints and you would like to speak to SCORE mentor, please visit www.score.ri.org
Besides the SCORE provided spreadsheet, I want a more robust spreadsheet, should I just customize it or is there a strongly recommended software for cash management ?
thanks. I often find the Q&A should extend!
Thanks Ray, Bill, Teri