"Struggling with cashflow and financial management is common for business owners. These SBOs need better tools and more advice and support to be successful." said Sabrina Parsons, CEO of Palo Alto Software.
EUGENE, Oregon (PRWEB) May 24, 2016
Newly released data findings show that 44 percent of small businesses in the United States admit a top challenge for their business is managing business cash flow. Today, LivePlan, the leading business planning software created by Palo Alto Software, announced a new white paper, “Small Business Owners Seek Better Cash Flow Forecasting and Reliable Access to Credit.” This white paper, taps into what small business customers want from their financial institution when it comes to finding solutions for cash flow forecasting and accessing credit.
Small business owners are often stressed over financial management. Without forecasting and strategy tools, the majority of business owners struggle with planning their cash, forecasting their revenue and expenses, and struggle to get access to the capital they need to run and grow their businesses.
According to data from Barlow Research, many small businesses are in need of guidance:
● 20 percent of small businesses are unsure if they will need additional credit in the next 12 months;
● 20 percent of SMBs’ credit applications were denied …and 11 percent of Small Business Owners (SBOs) refrained from applying in fear of getting denied.
Sabrina Parsons, CEO of Palo Alto Software, makers of LivePlan, advises small businesses that strategic planning and forecasting be a year-long activity with quarterly reviews at minimum to be alert of the businesses cash flow and keep their business fiscally healthy.
“Struggling with cashflow and financial management is common for business owners. These SBOs need better tools and more advice and support to be successful,” said Parsons. “If you review the business cash flow throughout the year and have a handle on the inventory, profits, employees, expenses, etc., you will always know where your business stands, and have good insight as to whether you are in need of additional credit, if so, how much or if you are eligible to apply.”
LivePlan released the white paper as the company exhibits at the Scaling New Heights event, taking place May 20 - 25, 2016 at The Atlantis, in Paradise Island, Bahamas. For more information about LivePlan, and how to grow your business, visit: http://www.LivePlan.com.
About Palo Alto Software:
Based in Eugene, Oregon, Palo Alto Software, Inc. is the world leader in small business planning and strategic forecasting. It develops and publishes tools, products, and content to help small and midsized businesses pitch, plan, manage, and grow their ventures. LivePlan, the company’s flagship product, is a SaaS (software-as-a-service) solution for dynamic business planning and small business management. Palo Alto Software has been the market leader in its category for more than 15 years, serving over two million entrepreneurs in 180 countries. The company was founded in 1988 by business planning expert Tim Berry, and is now led by CEO Sabrina Parsons. For more, visit http://www.paloalto.com.
About Barlow Research Associates, Inc.:
Barlow Research Associates, Inc., founded in 1980, provides research and consulting services to the banking industry in the U.S. and globally with specialties in custom research, strategic consulting and syndicated research programs for small business, middle market and digital banking. For more information, please visit: http://www.barlowresearch.com.