How to manage finance in your business
To manage finance effectively within the business then entrepreneurs or business owners have to put the following factors into considerations.
Entrepreneurs should know the total amount of finance which the business has at cash in hand and also cash at banks.
Entrepreneurs should know all the source of income which the business has.They should know the average amount of profits which the business makes,they should also know the alternative source of incomes which the business makes such as incomes from other investments which the business has.
Entrepreneurs should know all expenses in the business and they should only pay those expenses which are necessary to be paid by the business so as to avoid paying for other expenses which are not necessary to be paid so as to save some cash which can be used to perform other business activities.By paying all the necessary expenses in advance then the business will also save some additional cash because they will not have to pay additional penalties due to late payments like for examples when the business fails to pay taxes early,the tax will attract extra penalties which the entrepreneurs will have to pay as a result this will lowers the amount of finance or cash reserve from from the business in which the extra cost could have been channeled to do other useful matters within the business.
Entrepreneurs should also know some factors to consider before borrowing loans from the bank so that they know in advance on when to borrow or on when not to borrow finance inorder for the business to operate in financial stable state.
Entrepreneurs should know all types of discounts available so that they give correct type of discount's to their customers which will not affect the profit margin which the business will make from the sells of goods and services when the discount are given to customer's.
Entrepreneurs should know when to purchase goods and services or on when to purchase equipment and machines within the business so that they don't spend the money unnecessary which will results in the business reducing the amount of cash reserve it has. Entrepreneurs should also know how to invests any extra cash or profits which the business makes so as to increase the amount of cash or finance within the business.
Related links
Finance
How to finance business's
How to manage finance within the business
Factors to consider before taking business loans
Types of loans
How business's can get loans from the bank easily
How to prevent the business from being bankruptcy
How to make money from all wastes in the business
How to make money in your business
Services which the business can get from bank's
Expenses which entrepreneurs encounters during their business operation
How to invest effectively in business
Types of bank accounts which business's can open from the bank
Discounts
Why business's gives discounts to customers
What is trade discount in business
What is quantity discount in business
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What is seasonal discount in business
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What is accumulative quantity discount in business
What is non-accumulative quantity discount in business
Type of discounts in business
Entrepreneurship
How to be successful in entrepreneurship
How you can sell goods and services cheaply within your business
Expenses which entrepreneurs encounters during their business operation
Factors to consider before starting the business
How to get business ideas
How to display goods/services in the business
How to display goods/services in the business
How to know that your business is performing well
When should entrepreneurs increase price for the goods and services which they sell
How to work comfortably within the business
Types of business records
How to classify business files
How to partition offices within the business
Advertisements
How to effectively advertise goods and services
The correct time when business have to advertise their goods and services
What to consider before advertising your business goods and services
What details should be included when advertising products and services
The correct time when business have to advertise their goods and services
Customers
What to consider when taking customer order
How businesses can receive feedback from customers
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How entrepreneurs cannot mislead customers
How to make customers to purchase goods and services which you are selling
How entrepreneurs can avoid misunderstanding with customers when taking their orders
How customers will easily identify the goods and services which you are selling
How entrepreneurs can attract more customers to their business
How entrepreneurs can treat customer’s well within their businesses
Purchases
Disadvantages of hire purchase to the seller in business
Advantages of hire purchase to the seller in business
Disadvantages of hire purchase to the customers in business
Advantages of hire purchase buying to the customers in business
What is hire purchase in business
Stocks and Shares
What is IPO(Initial Public Offering) in stock market exchanges
What is stock broker when buying and selling shares
Difference between outstanding shares and treasury stocks at stock exchange
What is guaranteed preference shares when purchasing shares at stock market exchange
What is redeemable shares when purchasing shares at stock market exchange
What is non-convertible shares
What is convertible preference shares when purchasing shares at stock market exchange
What is non-participating preference shares when purchasing shares at stock exchange market
What participating preference shares when purchasing shares at stock exchange market
What is non-cumulative-preference shares when purchasing shares at stock exchange market
What is cumulative preference shares when purchasing shares at stock exchange market
What is preference shares when purchasing shares at stock exchange market
What is ordinary shares when purchasing shares at stock exchange market
Types of preference shares in stock exchange
Types of shares in stock exchange market
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Human resource
How to hire best employees in business organization's
How to motivate employees within business organization's
How to study behaviour of employees within the business
What you should know about your employees
Benefits of having intern workers within your business
What is performance contract in business
What is employee's records and details to be included in employee's records
Steps to be taken before business can hold meeting for their employees
How employees can be active within the business organization's
How to supervise your employees
Ettiquette’s which should be maintained by employees within the business
What is performance contract
Importance of delegation within the business organization's
What is chain of command in business
How office messengers will deliver information's quickly within the business
Insurance
What is insurance
What is cover policy
Types of insurance cover which your business should have
What is indemnity
What is deductible when taking insurance policy cover
How to prevent the business from fire
Business cleanliness
Types of cleaning facilities which business must have
How employees can maintain good hygiene within business organization's
How to remove dusts from within the business organization's
Effects of dusts within the business organization's
How to wash business toilet thoroughly clean
How the business can have sufficient water
Major functions of water within business organization's
Entrepreneurs should know the total amount of finance which the business has at cash in hand and also cash at banks.
Entrepreneurs should know all the source of income which the business has.They should know the average amount of profits which the business makes,they should also know the alternative source of incomes which the business makes such as incomes from other investments which the business has.
Entrepreneurs should know all expenses in the business and they should only pay those expenses which are necessary to be paid by the business so as to avoid paying for other expenses which are not necessary to be paid so as to save some cash which can be used to perform other business activities.By paying all the necessary expenses in advance then the business will also save some additional cash because they will not have to pay additional penalties due to late payments like for examples when the business fails to pay taxes early,the tax will attract extra penalties which the entrepreneurs will have to pay as a result this will lowers the amount of finance or cash reserve from from the business in which the extra cost could have been channeled to do other useful matters within the business.
Entrepreneurs should also know some factors to consider before borrowing loans from the bank so that they know in advance on when to borrow or on when not to borrow finance inorder for the business to operate in financial stable state.
Entrepreneurs should know all types of discounts available so that they give correct type of discount's to their customers which will not affect the profit margin which the business will make from the sells of goods and services when the discount are given to customer's.
Entrepreneurs should know when to purchase goods and services or on when to purchase equipment and machines within the business so that they don't spend the money unnecessary which will results in the business reducing the amount of cash reserve it has. Entrepreneurs should also know how to invests any extra cash or profits which the business makes so as to increase the amount of cash or finance within the business.
Related links
Finance
How to finance business's
How to manage finance within the business
Factors to consider before taking business loans
Types of loans
How business's can get loans from the bank easily
How to prevent the business from being bankruptcy
How to make money from all wastes in the business
How to make money in your business
Services which the business can get from bank's
Expenses which entrepreneurs encounters during their business operation
How to invest effectively in business
Types of bank accounts which business's can open from the bank
Discounts
Why business's gives discounts to customers
What is trade discount in business
What is quantity discount in business
What is cash discount in business
What is seasonal discount in business
What is promotional discounts
What is geographical discount
What is accumulative quantity discount in business
What is non-accumulative quantity discount in business
Type of discounts in business
Entrepreneurship
How to be successful in entrepreneurship
How you can sell goods and services cheaply within your business
Expenses which entrepreneurs encounters during their business operation
Factors to consider before starting the business
How to get business ideas
How to display goods/services in the business
How to display goods/services in the business
How to know that your business is performing well
When should entrepreneurs increase price for the goods and services which they sell
How to work comfortably within the business
Types of business records
How to classify business files
How to partition offices within the business
Advertisements
How to effectively advertise goods and services
The correct time when business have to advertise their goods and services
What to consider before advertising your business goods and services
What details should be included when advertising products and services
The correct time when business have to advertise their goods and services
Customers
What to consider when taking customer order
How businesses can receive feedback from customers
How entrepreneurs can know trust worthy customers
How entrepreneurs cannot mislead customers
How to make customers to purchase goods and services which you are selling
How entrepreneurs can avoid misunderstanding with customers when taking their orders
How customers will easily identify the goods and services which you are selling
How entrepreneurs can attract more customers to their business
How entrepreneurs can treat customer’s well within their businesses
Purchases
Disadvantages of hire purchase to the seller in business
Advantages of hire purchase to the seller in business
Disadvantages of hire purchase to the customers in business
Advantages of hire purchase buying to the customers in business
What is hire purchase in business
Stocks and Shares
What is IPO(Initial Public Offering) in stock market exchanges
What is stock broker when buying and selling shares
Difference between outstanding shares and treasury stocks at stock exchange
What is guaranteed preference shares when purchasing shares at stock market exchange
What is redeemable shares when purchasing shares at stock market exchange
What is non-convertible shares
What is convertible preference shares when purchasing shares at stock market exchange
What is non-participating preference shares when purchasing shares at stock exchange market
What participating preference shares when purchasing shares at stock exchange market
What is non-cumulative-preference shares when purchasing shares at stock exchange market
What is cumulative preference shares when purchasing shares at stock exchange market
What is preference shares when purchasing shares at stock exchange market
What is ordinary shares when purchasing shares at stock exchange market
Types of preference shares in stock exchange
Types of shares in stock exchange market
What are shares in stock exchange market
Human resource
How to hire best employees in business organization's
How to motivate employees within business organization's
How to study behaviour of employees within the business
What you should know about your employees
Benefits of having intern workers within your business
What is performance contract in business
What is employee's records and details to be included in employee's records
Steps to be taken before business can hold meeting for their employees
How employees can be active within the business organization's
How to supervise your employees
Ettiquette’s which should be maintained by employees within the business
What is performance contract
Importance of delegation within the business organization's
What is chain of command in business
How office messengers will deliver information's quickly within the business
Insurance
What is insurance
What is cover policy
Types of insurance cover which your business should have
What is indemnity
What is deductible when taking insurance policy cover
How to prevent the business from fire
Business cleanliness
Types of cleaning facilities which business must have
How employees can maintain good hygiene within business organization's
How to remove dusts from within the business organization's
Effects of dusts within the business organization's
How to wash business toilet thoroughly clean
How the business can have sufficient water
Major functions of water within business organization's
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