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How to manage cash flow during COVID-19

We cannot escape that we find ourselves in unprecedented times. No one could have anticipated the rapid rise in Covid-19 infections and how it has literally brought the world to a standstill. Given how interconnected we are as a human race, the detrimental effects that this virus will have on global commerce will be unlike anything we have ever seen before. But to instil, people all over the world are rallying together to help those in need and to help one another during these difficult times. Interestingly, while people may be self-isolating and avoiding social contact as far as possible, it appears that people are coming together and connecting more with one another than ever before.

Make sure you have the necessary resources

Investmint is a platform that connects business owners who are looking for a loan against invoices or purchases orders that they have with investors who have some spare capital that they are willing to lend out to these businesses and earn a return for doing so. As a business owner, you can use the Investmint platform to get an injection of capital into your business that can prove to be incredibly helpful during this difficult time. It is imperative to make sure that as a business, cash flow management remains one of your top priorities over the coming months. By doing this you will give yourself the best chance to weather this highly unanticipated storm and come out thriving at the end.

Take inventory

Co-founder of Investment, Chris adds, "take an inventory of all remaining costs that you incur as a business and group those costs into essentials and non-essentials. Any non-essential expenses that do not drive sales or do not play an important role in the running of your business should be scrapped immediately. "

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