Sustainable Cash Management: Reducing Complexity & Maximising Profit
by Larissa Petryca, on 13 April 2022 10:00:41 CEST
In partnership with Profit First Professionals, Luca Prague and the Italian Czech Chamber of Commerce, Prague City University’s School of Business hosted a cash management seminar on simple and sustainable cash management systems to ensure sustainable profitability.
Why Sustainable Cash Management
Dr Stefano Cavagnetto, Dean of the School of Business opened the seminar with a general introduction to the micro economic system in the current environment, liquidity management and the importance of proper cash flow management.
Sustainable cash management is seen as essential for any small or medium sized enterprise, especially given that 82% of small businesses fail within 5 years due to cash flow problems and lack of financial management. The seminar highlighted that business owners tend to focus purely on revenue, yet profit is the key for businesses continued success.
Luca Prague CEO, Roberto Di Cursi then gave a summary and introduction to part two . This was followed by Veronika Ivanová Fárková who spoke about the Profit First cash flow management system which is new to the Czech Republic.
The seminar concluded with a lively Q&A, followed by networking and refreshments.
Undergraduate and postgraduate students from the School of Business were invited to take part in the seminar, alongside business owners and leading senior management figures.
This is part of PCU’s Business Plus strategy that aims to give students the chance to learn and work alongside leaders at events and seminars to compliment their studies. These opportunities give students a chance to grow their professional network plus they gain valuable insight into the current issues that organisations are facing.