4. Give discounts for early payment.
You will be able to collect the money more quickly if you offer a discount for prompt payment. Plus, you cut down on collections, leaving you more time to focus on selling.
5. Establish a line of credit with your bank.
This is relatively straightforward and a simple process if you have good credit. A line of credit will give you a buffer if your business is seasonal or you experience swings in cash flow. Northway offers a Business Express Loan, which gets you an answer within 24 hours!