Essay Cash Mangement in Business

1549 Words7 Pages
Nowadays, as we can notice, there is certainly increasing business competition, the culture becomes knowledge-based, and promptly changing technology convert most characteristics of the working life of a small firm. Indeed, coping with that alterations are certainly a must.
To start this up, cash management is a technique not only in managing the money in business but also on how they are able to make it become progressive. It involves tactical and strategic aims related to the financial resources of the business and it’s a way of making money and supplements value for the owners. The skills and qualities of a person that is handling in a certain business are very significant, because it is one of the foundations or an asset of every
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It is how we pay our bills. It is how we get paid for our labor or other services.” It is the major resources of our daily living. People are working to have money for them to use in buying the things they needed and wanted. In a practical viewpoint, money is the most powerful thing that has ever existed. So, cash is the symbol of having money which is used of every people in exchanging things and value. (Sartoris & Hill, 1993)
Browne et.al (2011) says that vending is an essential part of urban life. It exists in cities around the world and takes many different forms, each of which complement and benefit the City and its population. Many street vendors sell standard food items such as hamburgers, hot dogs, chips, fruits, pastries and salads, and soft drinks, coffee, tea and juices as well as specialty food items such as ice cream. Some of them sell merchandise such as shawls, t-shirts and other clothing items, and jewelries, etc. According to the article in Philippines Today (2013), the micro-entrepreneurs in the Philippines are the owner of sari-sari store, jeepney and tricycle drivers, market vendors, and sidewalk vendors. Many small entrepreneurs face the challenges of a highly competitive market with the lack of principal, credit and other means, as well as lack of funding and business know how. For Filipinos, having their own business is a big accomplishment even if it is very small.
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