|Register On Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,935,476 members, 7,102,410 topics. Date: Tuesday, 04 October 2022 at 06:53 PM
Businessman Bags Two Years For Issuance Of Dud Cheque / Femi Otedola, Do You Go To Work? Instagram Follower Asks Billionaire Businessman / Businessman Shows Off His 2018 Range Rover Vogue Rotating In His Parlour. Photos (2) (3) (4)
|Dear Businessman, by KELECHI02(m): 10:12am On Jun 02, 2020|
cashflow is the life line of your business,
cash flow may be a little complicated but I will explain in very simple terms.cashflow is the movement of finances in your business,it entails the movement of money within and out of your business.
cashflow details how money move into your business and how it moves out too. For you to grow your small business,you must maintain a high level integrity in managing your finances.
There is nothing that kills a business faster than bad financial management. You must account for every penny that moves out of your business as well as every penny that moves into your business.
Hence it is very important for a businessman who wants to grow his business to keep a detailed account of his business cashflow, you can do this by keeping a cash book or use excel,MSN or any other backed up software to achieve this.
Cashflow is the blood line of every business,just like human body,a business begins to die when there is no cashflow or circulation of finances in and out of the business hence,to work on your cashflow is very important.
You must maintain integrity when its comes to handling the finances of your business, separate yourself and your personal spending from your business expenses. You must avoid dipping your hand into your business finance and spending it unnecessarily rather create for yourself detailed plans of payment of allowance to yourself, when once you pay yourself,all other money belongs to the business and not to you.
You must keep detailed record of the financial temperature of your business, you achieve this by calculating the financial equivalent of your inventory as against your sales and the level of demand you are getting.
. am very open to constructive criticisms, share your thoughts in the comment section.
|Re: Dear Businessman, by CsRockefeller(m): 10:28am On Jun 02, 2020|
70% of small business in Nigeria have a low Cashflow chart, which is normal given the nature of our financial system.
I won't be too bothered about the cashflow if I had a biz, the major concern is are you making sales? And do you have funds to maintain your running cost for at least a month?
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 36