Editor’s Note: We offer long term sponsors like American Express the opportunity to speak to you in their own voice. Any such post is clearly marked as sponsored, like this one. We hope you find this information useful. Managing cash flow is often a challenge for small businesses, and in tight economic times many companies find themselves in a double bind: customers take longer to pay as they work to manage their own cash-flow, and at the same time suppliers demand payment more quickly, for the same reason. Negotiating hard on trade terms is a good first step in addressing this squeeze. Common trade terms are “net 30†or “net 60,†meaning that a business has 30 or 60 days from the invoice date to pay in full for the purchase. If you can persuade some of your vendors to accept more generous payment terms – or at least maintain the terms you already have – that can put more cash in your pocket. Sometimes suppliers will offer a discount on payments that are made right away, and if you selectively take advantage of this you can save money there too. The Plum Card® from American Express OPEN can give you similar benefits, while saving you the time and trouble of negotiating with suppliers.
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Sponsored Post – Benefits for Your Bottom Line: The Plum Card from American Express OPEN
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