Latest / Profit Isn’t an Accident | Contractor Profitability, Cash Flow Management, Job Costing , Business Growth, Small Business Finance
047. How Much Cash Should a Contractor Keep in the Bank?
How much cash should your contracting business actually keep in the bank?
$10,000? $50,000? Three months of expenses? There isn’t one magic number that works for every contractor. Your ideal cash reserve depends on how quickly customers pay, your overhead, payroll, seasonality, upcoming obligations, and how much risk your business needs to absorb. In this episode of Profit Isn’t an Accident, Shannon breaks down how to determine your business’s cash floor and why the number you see in your bank account is NOT necessarily the amount of cash you actually have available. You’ll learn: • Why a…
The skinny
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