decentralized and uncontrollable
Business planning is an important factor for success in any endeavor. However, few small business owners are seriously worried about their business plan. Lack of understanding of the proper level and type of planning is often the cause of an insufficiently developed business plan.
Business consultants, bankers, civil servants, professors of economic institutions – they all tend to paint business planning on 70-100 pages. Why only very few entrepreneurs find such an approach useful? A business plan has traditionally been a kind of tool for attracting cash infusions (as a rule, investments and shares). Continue reading
If you are at the beginning of your business, or you want to manage your current business loans more efficiently, an important factor is always “to be in the black,” which means you keep a close eye on finances. It’s enough to take a few simple steps and your company’s financial health will always be in order.
However, as your business grows and develops, it is very important to build a good credit history of your business, separately from your personal credit line. Getting a loan to develop your business can help you qualify for lower rates on loans and leasing. Continue reading
The most effective way to determine whether a business is profitable or, conversely, unprofitable, is an appeal to financial records. A clear picture of the company’s financial situation can be obtained from the balance sheet, which includes information on the company’s net profit and on the results of the audit. Such information is key to diagnosing the degree of profitability and loss-making business. Continue reading