Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many...
Financial management is a vital part of running a successful business, but often entrepreneurs start their business with little understanding of how to make solid financial decisions. Managing your finances is about more than bookkeeping and paying taxes—although those are also important to a sustainable business. It’s about managing cash flow, preparing for income fluctuations,...
Small business owners know how important it is to save money. It’s evitable that you’ll need to tap into your savings for an unexpected expense, emergency and it certainly comes in handy during slower times. Saving money is definitely important, but there are also things small business owners can – and should – spend their money on today....
Small businesses run on cash and knowing where cash is and where it’s gone is among the most important things a business owner can know. The cash flow statement enables the owner, managers, bankers and suppliers to view the company’s operations from a cash perspective, so they better understand how smoothly the operations are running,...
