'If you’re running a small business, I advise you to brace yourself: 2023 — at least the first half — is going to be tough,' writes genemarks.
Project your cash out over at least the next 90 days. This is not as hard as you think. You know your monthly overhead. You know your margins. You’ll need to estimate your sales based on backlog, open orders, pipeline and history. Once you do this and take into account any unusual items in the next three months , you should have a much better idea what your future cash will be. If you have a good idea what’s coming, you’ll be better prepared to deal with those challenges.
Labor shortages, a slowing economy and national and local regulations will continue to add to our headaches. But inflation and interest will still be the two biggest challenges.
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