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forecasting

Managing Cash Flow During the Slow Season

Managing Cash Flow During the Slow Season

By Pam Wismer, Fractional CFO, Ascent CFO Solutions

This article was originally published in Construction Business Owner Magazine.

The very mention of fluctuating cash flow can cause anxiety for construction company owners. Without sufficient planning for a slow season, even seasoned businesses may find themselves in a cash crisis from time to time. While weather can be an obvious culprit for midsized general contractors — particularly those in nonresidential construction such as commercial, road and highway, or heavy construction — a slow season can also be related to factors such as project life cycles, regional labor shortages, or a poorly quoted or scoped job. In severe circumstances, a company must be strong enough to survive the cash drought without becoming insolvent and remain well-positioned for new projects as the market improves.

Consider these tips to financially prepare for and navigate an unexpected slow season.

How to Prepare Your Business for Success in 2023: Insights from a Founder and Fractional CFO

How to Prepare Your Business for Success in 2023: Insights from a Founder and Fractional CFO

Year-end planning is imperative for all businesses, especially as they navigate a changing and uncertain business environment. Over the last six months, rising inflation and a likely recession has created fear and panic for some companies as they look to 2023. While business leaders have little control over macroeconomic cycles, they do have the ability to truly understand the specific components of their business, adjust and be flexible in their goals and spending, and navigate uncertainty with greater confidence. Ascent CFO Solutions’ Founder and Fractional CFO Dan DeGolier shares his insights on how businesses can take advantage of year-end planning and forecasting, how to handle financial uncertainty, and ways to elevate your business for greater success in 2023.