Finance Handbook business owners that want to know and understand what is going on in their business financial performance.
The Essential Finance Handbook for entrepreneurs - 7 basic steps to manage your business finances is aimed helping business owner including aspiring business in building finance foundation including related compliance in their business by following the systematic steps:
1. Establishing where you want to be as a business owner or aspiring business owner in terms of financial Goals
2. Select business structure do you need to run your venture based on your environment and industry.
3. Identify legal responsibilities as registered company, employer, taxpayer and trader of specific service or product, and which records need to be kept and for how long. Compliance with SARS, DOL, CICP, etc.
4. Understand financial concepts impact your business and decisions including how to different types of accounting, macroeconomic factors etc.
5. Identify key role players in finance and what are their responsibilities and minimum competency should you look for when engaging them.
6. Establish finance systems and controls do you need to establish in your business including filling of documents.
7. Evaluate and measure performance in your business continuously to ensure you achieve your goals and identify red flags for corrective actions.
In each step we provide templates, checklists and To Do List consolidated to assist to start building systems and controls on your business. This was written for business owners who have no financial background or experience who want to understand finance terms and how these terms related day to day managing of their business performance.
www.financesuccess.co.za
