Day 5
Finances
Key areas we will cover on day 5:
• financing your business
• establishing accounting procedures
• developing collection policies
• analysing financial reports
• designing business invoices
• budgeting and benchmarking
• identifying key performance indicators
• maximising income and minimising expenditure.
It is important to understand and plan for the financial side of the business. Many business owners are primarily focused on tax obligations; however, accurate financial reports are useful resources for decision making. You cannot run a business by monitoring your bank statements and assuming a positive balance means the business is in a healthy position and everything is okay. As a business owner you need to look at the ...
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