Avoiding business financing mistakes is a key component in business survival. If you commit these business financing mistakes too often, you will greatly reduce any chance you have for long term business success. The key is to understand the causes and significance of each so that you are in a position to make better decisions.

No Monthly Bookkeeping: While everything has a cost, bookkeeping services are dirt cheap compared to most other costs a business will incur. And once a bookkeeping process gets established, the cost usually goes down or becomes more cost effective as there is no wasted effort in recording all the business activity.

Regardless of the size of your business, inaccurate record keeping creates all sorts of issues relating to cash flow, planning, and business decision making. By itself, this one mistake tends to lead to all the others in one way or another and should be avoided at all costs.

No Projected Cash Flow: No meaningful bookkeeping creates a lack of knowing where you have been. No projected cash flow creates a lack of knowing where you are going. Click here to continue reading