Effective Working Capital Management for SMEs -1

From my interaction with many entrepreneurs from across Sub Saharan Africa, cash flow management is one of the leading causes of stunted growth for most SMEs. Most founders assume that they know everything about their businesses; hence they do not see the need of having advanced working capital management tools within their businesses. The results are tragic!

Some of these SMEs have found themselves cash trapped and unable to deliver on their client orders. Failure to deliver on client orders have led to lost goodwill and customers shifting to competitors; and the ultimate staggering of the business as it heads to its downfall.