Tag Archives: Finances

Importance of Finance to Your Business | The Startup Magazine

Finance is one of the very subtle sectors of a business that can make or break entrepreneurs. Ideally, all companies need finances for daily operations. This is what makes the concept of finance very important as an area for all organizations to cover. In South Africa especially, there is an underlying need to keep a business well financed and managed, in alignment with the economic development goals of the country. Below are some of the reasons finance matters to business organizations:

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How Entrepreneurs Can Manage Their Personal Finances | Allbusiness.com

Compared to other workers, entrepreneurs tend to enjoy an advantage in financial literacy. The know-how required to invest, organize, and save funds for a business often applies well to personal finance management, so these individuals run a “tighter ship” at home.

But this isn’t always the case. Business owners can lose their way financially by going to one of two extremes: Tying their personal finances too closely to their business resources, or running their personal finances quite differently from how they manage company money.

An unbalanced approach in either direction can lead to financial difficulties in the form of squeezed budgets and damaged credit. On the other hand, entrepreneurs who can strike a middle ground between these extremes enjoy greater financial security and success in their business and personal lives.

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