Harvard Business School December 1998 Cash Management Practices in Small Companies Of all the disciplines that a small company must master to grow and none may be more important than cash While a strong cash management system can ensure that a company maintains adequate cash levels to meet its operating and investment an inadequate cash management system can lead to a failure to meet its financial All too poor cash management systems have led small business managers to liquidate or reorganize under Chapter 7 or 11 of the Bankruptcy Most small business managers claim that cash management is their leading Often walking a tightrope between growth and small business managers face different cash management challenges than their counterparts in larger Compared to larger small businesses often have and accounting volatile cash flows dependent on a single product limited access to new and a significant share of their net worth tied up in working These limitations are often compounded by focus on which can put additional pressure on the cash management system by increasing net working capital despite its few small business managers can dedicate significant time managing Most develop a set of techniques to avoid cash but many of these
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