Cash flow tips for freelancers and small businesses

Delays on payments are quite usual for freelancers and small businesses, but they shouldn't get used to this! Here you will find some tips that can help you increase your cash flow.

If you own a small business or work freelance you probably have to deal with delays on payments on a daily basis. This means that you probably struggle to get paid every time you present your invoices.

However, there are some tips that can help you increase your cash flow and avoid problematic payments. Take a look!

  1. Online payments: This may be the most important method to grant on-time payments for your business. Besides, it will set the foundation for your entire payment process! By allowing online payments, you can create, send and pay invoices online, without having to wait for payments to be done.
  2. Recurring payments: This is one of the best ways to guarantee consistent cash flow when you work on larger projects for clients. You should always be in control of the billing while setting the payments on a large project, this way you can organize a payment schedule based on your needs.
  3. Always communicate with your client: This may seem obvious, but communication might become a bit rusty when it comes to billing. Make sure that you communicate with the right person, otherwise, payments will probably take more time.
  4. Make a plan: Before jumping into business, make sure you include a full project scope. This should include payment schedules, pricing, timelines and expectations. Use this as a roadmap to avoid confusion with your clients, especially at payment time!

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