Majority of Small Businesses Unprepared for Cash Crisis

A couple months ago, I had the opportunity to write for Chase News & Stories about a new study from the JPMorgan Chase Institute that analyzed data from nearly 600,000 small businesses and found that only about half of small businesses maintain a cash buffer large enough to support 27 days of typical cash outflows.

 

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Image: Jeff Weese via pexels

I had a tight deadline for this piece, and I needed to find a small business owner willing to discuss cash flow – not exactly a topic that many small business owners want to publicly admit they struggle with. Fortunately, I have a connection to Neva Peterson of Neva Knows Business, a bookkeeping and consulting business in Las Vegas, Nevada.

 

I’ve been friends with Neva’s daughter, Jennifer since junior high school, so she was willing to open up about her experiences starting her own small business and dealing with cash flow while growing her business and hiring employees. Her thoughts are not only insightful but pretty entertaining!

You can check out the piece here.

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