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When you hear the word “business”, most likely, one of the things you immediately associate with it is money. This is a natural, almost instinctive, reaction. After all, business does promote money – it needs money for capital, it generates money for profit, and it also loses it. Money, therefore, is essential in every stage of a business’ life cycle. The bottom line is: you need money for business.
Assuming that you are set in putting up your business, and that you already have a business plan ready to be executed, it is safe to say that you are confident enough in your capacity to shell out for the capital. You have probably signed a loan agreement with the bank already, or you have sleeping investments that you would like to instead use for the purpose of opening up your business. You may even have a rich relative who is interested in funding your dream business project, effectively becoming your investor as well. Regardless of where you get the money from to get your business running, what is more important is your ability to keep this money circulating enough to continue breathing life into your business. [Read more…] about Financial Management for Business Beginners
Originally posted on January 28, 2014 @ 7:16 am