Tag Archives: Cash

5 Things That Will Destroy Your Small Business in a Flash

Contributed article in our entrepreneurial series. Enjoy! – Kimberly

According to many entrepreneurs, running a successful business can be challenging and very exciting at the same time. When due diligence is observed, financial gains from the startup are almost guaranteed.

Unfortunately, some business owners end up choking the business unconsciously by doing some things that are unsuitable for the organization. In most cases, this is as a result of insufficient experience which is a conspicuous characteristic of new entrepreneurs. Making slight mistakes in management can be corrected if they are discovered early enough and you can recover in a short time.Continue reading→

Why Finance Management is So Important in Business

Contributed article in our business series. Enjoy! – Kimberly

Every major business will have to handle money. Fact. Therefore, it’s vital that businesses manage their finances finely to ensure that they can pay for any expenses and that no money is being lost. Sometimes, managing finance can be tricky, but with a lender for short term loans available in every corner of the Internet, finance management can be made so much easier with the click of a mouse.

Bookkeeping

This is simply the process of keeping up to date with the organizations daily financial activities, which includes sales and composing these into balance sheets and reports. By carrying out this process on a frequent basis, you’re receiving useful feedback that can help you alter any of the strategies that you have in process at the company. For example, if your sales income is considerably low, you can take action to ensure that the figure rises, allowing you to make more money for your business. Therefore, it’s essential that bookkeeping is done regularly so that you can keep tabs on your financial situation and make any amendments necessary.Continue reading→