(The Center Square) – In a time of year when small businesses usually experience strong sales, many are reporting that they are running out of cash.
According to the small business network Alignable, a higher number of small businesses are saying that their cash reserves are dwindling.
Head Researcher Chuck Casto said 38% of small businesses nationwide say they have only one month or less of cash reserves right now. The figure is up 12 percentage points from December 2021.
“Cash flow is very important because a business needs a healthy cash flow to stay in business,” Casto said, adding that Illinois numbers are comparable to the national figures.
“One-third of the small businesses from Illinois that we polled said that they only had one month or less of cash flow, so that was alarming, certainly in Illinois,” Casto…