Contractors trying to keep their construction companies financially healthy face two intrinsic challenges: the seasonal nature of construction work and the unpredictability of an invoice-based business.
Both can disrupt cash flow and make collecting and paying bills challenging. With positive cash flow, your balance sheet is better able to handle the industry's typical ups and downs plus any curve balls thrown by outside forces — such as the COVID-19 pandemic.
Here's how to promote a freer flow of cash.