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Categories: Take Action Now

Time to Take Action Now To Get Good Business Finances

 

 

At the beginning of each year, people and business owners all across the world take time to assess their business’ financial condition. For some business owners, the beginning of the year is the only time financial condition is examined. If you are a business owner who only pays attention to finances at special times of the year like the beginning of the year and tax season, it is time for a change.

It is important to have a good relationship with your financial condition. Money is not a dirty word. Finance is not a dirty word. When you are an entrepreneur, you have an obligation to pay attention to the financial condition of your business. You should always be aware of the key elements that impact the financial condition of your business. These elements include:
Cash flow
Balance sheet
Accounts receivable
Accounts payable

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Janeane Davis

View Comments

  • This is helpful for this time of year. I need to get clear on my finance plan.

  • You are right. It is so important to look over your finances and keep everything in check.

  • This is an excellent blog post. Too many businesses fail when they could have been successful for the simple reason of not having a balance sheet. Even if your business is really small, getting your business finances in order is very vital. http://www.sba.gov has an excellent business plan template that has a financial section. You can do cash flow statements, balance sheets, etc in a short amount of time using their templates

  • Thanks for these great tips. Sometimes I tend to let that side of my business slack

  • Great information. Thankfully my husband has our finances organized!

  • We are terrible with our finances! I have not even started on my business taxes and I only have a few days.

  • Janeane as I get my taxes together I know how important it is too pay attention to your business house in order. Thank you for sharing information.

  • Great Tips as always. I'm no longer scared to look at my account as i'm more organized and better with my cash

  • It feels so much less hectic when you have a system in place!

  • I am just starting into making money with my little blog business, thanks for the reminder!

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