2023 has presented many challenges for small businesses, with inflation and rising costs impacting many owners’ bottom lines.
Why it matters: Difficult economic conditions are expected to continue well into 2024, so small business owners should be looking at their 2023 results to guide 2024 planning.
Your planning checklist:
- Optimize your cash flow.
- Consider financing options if you need cash.
- Evaluate your expenses.
- Boost your online presence.
- Expand payment options for customers – make it easier for them to buy from you.
- Seek alternate vendors and adjust your own pricing to stay competitive.
- Protect your business from fraud.
Go Deeper: Leverage your banking and partner relationships to discover new paths to increased cash flow and sources of capital in 2024.
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