Every business goes through slow periods. For Ghanaian MSMEs, a dip in sales can quickly become a cash flow crisis. Here are five proven strategies that keep your business running smoothly all year round.
Open a dedicated business account even if you are in the informal sector. When money is mixed, it is impossible to see how your business is truly performing. Many successful market traders in Accra start here.
Even saving 5 to 10 percent of your daily takings during busy periods creates a cushion for slow months. Put it in a mobile money account you do not touch unless absolutely necessary.
A product like the Tru Express Loan is designed exactly for these moments. Rather than running out of stock during a slow period, a small loan keeps your shelves full so you are ready when customers return.
Negotiate to pay suppliers after you have received payment from your customers. Even extending your payment window by 7 to 14 days can make a significant difference to your weekly cash position.
Track which months are slow and which are busy. Once you know your cycle, you can stock up during slow periods using credit and pay it back during your peak months.
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