The relationship between manufacturing companies and their customers is being revolutionized by various marketing and customer experience trends. Gone are the days when word-of-mouth marketing practices and a firm handshake were enough to win new customers and seal the deal.

In a capital-intensive industry like manufacturing, planning is everything.

When it comes to the financial management of growing a small business, cash is king. However, when a gap between paying your suppliers and employees and receiving payment from customers occurs, maintaining a smooth operation can become a real challenge.

 
As a small business owner, you understand just how important it is to stay on top of cash flow and what a challenge that task can be. Without sufficient cash flow, it will be difficult to meet payroll, operate smoothly and meet your financial obligations.

 
The manufacturing industry has evolved in recent years, thanks to new technologies, methods and consumer needs and demands. Even so, one fact remains the same: manufacturing and distribution is a capital-intensive industry with large capital expenditures.

 
According to a recent study, there are 2.36 billion millennials and 1.9 billion Gen Zs worldwide. With a reputation of being both big and elusive, engaging these generations is proving to be quite the challenge.

At some point, every business owner will face the challenging situation where more money is flowing out of their business than is flowing in. This cash flow shortage can quickly make it difficult to cover payroll and day-to-day operating expenses, not to mention rapid growth and expansion needs.

According to a new survey from CreditCards.com, roughly 35 percent of small business owners say they have tapped personal funds – including personal credit cards and/or savings – to stay afloat.

At one time or another, every business experiences late paying clients. There are many reasons why customers don’t pay their invoices on time (or at all), from misplaced bills and being dissatisfied to unexpected expenses that tie up their cash.

While every industry has its challenges, the oil and gas industry is arguably one of the toughest to operate in smoothly for a variety of reasons.