The origin of “Cash is King” is not clear.
In 1988, after the global stock market crash in 1987, it was used by Pehr G. Gyllenhammar, CEO of Volvo. The phrase was also widely used during the global financial crisis, which started in the Fall of 2008.
“Cash is King” describes the importance of sufficient cash in a business for short-term operations, purchases and paying wages for labour. A business could have a large amount of accounts receivables, but still be short on cash. More businesses fail for lack of cash flow than for lack of profit.
If you’d like to turn your over-due accounts into cash flow give us a call at 1-(778) 821-1293.
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