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Dołączył: 29 Gru 2024 Posty: 1
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Wysłany: Nie Gru 29, 2024 10:50 Temat postu: 5 financial management tips for micro and small businesses |
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No matter the size of your business , it must have correct and efficient financial management for your company to function. Having only a basis of how much you earn per month, how much you spend and what your revenue is, as well as your expenses, is what makes many people go bankrupt in such a short period of time.
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In Brazil, research shows that quick signs businesses survive for an average of 2 years, and one of the reasons, in addition to external factors such as the country's poor economy, is the lack of financial planning.
Therefore, we have listed 5 Financial Management Tips for micro and small businesses, which will be of utmost importance for your company to start and grow, not falling by the wayside and becoming a benchmark for success in your industry.
Invest in Financial Education
A person with debts will never be able to run a business. Before you see your business take off and move forward, do everything you can to get your accounts up to date. Negotiate with banks, learn to pay everything in cash and avoid new bills.
Financial Education, especially regarding personal finances, is the main focus of any entrepreneur, because if the health of the accounts is not good, the habit will certainly spread to the professional accounts, and then the headache could be even greater.
Take Your Pro-Labore Seriously
The Pró-labore is the entrepreneur's salary, that is, if the business is yours, in addition to paying your employees, you have to pay your own earnings and in this way, avoid some situations such as using the company's money indiscriminately.
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Pro-Labore
Many business owners make mistakes in this regard and therefore put their businesses at risk, as they use the company's money as if it were their own, and the results are compromised.
If the company is very small, such as MEI, have a legal account and a physical account and each month, calculate your monthly income.
Even if it is small, the entrepreneur will already be used to keeping everything organized and with less chance of errors.
Keep an Eye on Cash Flow
Keep a close eye on what comes in and goes out of your company, with a careful analysis of your cash flow . How much you received, how much you went out and how much went to pay debts, suppliers, equipment, raw materials and how much should be allocated to employees.
Cash flow provides a broad view of the company's financial situation and gives the entrepreneur a clear idea of how money is being used, what the costs are and what can be saved or invested to make these amounts yield even more.
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Analyze Whether It's Time to Expand
The dream of the Brazilian entrepreneur is to expand, to have a sustainable and valuable business and often in the thirst to grow, they can lose focus along the way and make small mistakes that can be crucial to maintaining or putting an end to their entrepreneurial dream.
Good sales and profits don’t always mean it’s time to grow… sometimes having a little bit of patience and down-to-earthness will be beneficial in the long run. So if you have a small store that has been generating great numbers, do some research and analyze whether it’s time to invest in branches. Try to invest in what you have and what’s working now and only take the next step when the future presents more tempting opportunities.
Take the FBV Cursos Financial Management Course!
To be a successful entrepreneur, in addition to all the tips listed, it is important to be well qualified and have excellent knowledge of your area of expertise. To manage well regardless of the size of your company, take the Financial Administration course at FBV Cursos.
At FBV Cursos, classes are 100% online and free, with quality teaching and a certificate of completion accepted throughout Brazil. Don't wait any longer to learn the concepts that every good entrepreneur should master in business management, take FBV Cursos Financial Administration and give your company a boost! _________________ quick signs |
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