For an SME in expansion, ensuring adequate control of debt reduces the risk of default with respect to creditors, suppliers and clients, and secures efficient business operations. Although some business owners feel proud of the fact that they have never taken out any loans, this is not always a realistic approach.
Below we share some management, budget and investment advice for women entrepreneurs. Virginia Porcella, finance specialist and author of the book “High Heels Economy” and “SOS Economy,” offers her tips.
Managing and organizing a company’s finances is essential to long-term business survival. It involves more than properly keeping numbers: it implies good analytical capacity and skills to make the right strategic decisions.
Inventories or goods in stock refer to the amount of fixed assets or goods that a company has at a specific moment in time. Inventory control is generally an issue that is poorly addressed by SMEs.
The cash flow statement is a financial report that records a company’s cash inflows and outflows at a given time. It is one of the most essential elements in the financial management of a company since it is an important indicator of the firm’s liquidity.
Price is undoubtedly one of the most determining factors that buyers take into account upon judging the appeal of a product or service. It is a very delicate process where a price too high can avert prospective buyers while a price too low can generate losses or even create a bad image for the business.
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