17 Tips To Improve Your Company’s Financial Health

17 Tips To Improve Your Company’s Financial Health

A Survival Guide to Your Company’s Financial Health Financial health is the way in which to measure the financial aspect of a company. Measuring a company’s financial health isn’t easy for small businesses or large corporations. But, with our  tips, strategies, ratios and ways to check up on your financial health, you’ll have all the tools you need. A recent research report from the Federal Reserve Bank of Chicago, Pepperdine University, and online small business lending company FundWell raises awareness about small business financial health. The report titled, “Small Business Financial Health Analysis” covers policies, investments, and financial and technical assistance resources to help small businesses achieve their goals in computing their financial health. But, these three institutions came together for another important reason. Our U.S. economy depends on small businesses to be financially healthy. There’s no denying that small business growth drives U.S. job creation. From 1993-2009, the U.S. economy added 9.8 million jobs! A financially weak business creates a domino effect – impacting the U.S. economy. To ensure businesses are financially healthy, we need to give them (that means you!) the tools they need. The study, based on 940 small business owners, concluded that “small businesses that had a better understanding of asset based financing, including inventory financing, accounts receivable financing, trade credit, and equipment leasing financing, scored higher on the [study’s pre-determined] financial health index.” Over 33% of the businesses that had excellent financial health said they had a solid understanding of these asset-based financing products. Yet, over 33% of businesses with poor financial health said they had never even heard of or had limited knowledge of these four...