Money and how you manage it does matter! Running your own business can be exciting and rewarding, but as your own boss you have to take care of your own money.

Records management

Records management is the first important task in the process of sound financial management for a small business operator. Accurate and regular financial information allows you to monitor the success or failure of your business and provides you with information to evaluate the consequences of your financial decisions. Read more...

Understand your accounts

Learn to read and understand your financial statements. Financial statements provide a summary of the financial information of a business. It is important you understand and analyse the financial records of your business so you can manage, control and make more informed decisions armed with facts, not intuition. Read more...

Managing your money

Effective financial controls are critical to the success of any business. It's not just being profitable that counts. A profitable business can fail due to poor cash flow, which may result if you're not paid on time. Your cash flow management, costing and pricing, and credit management are crucial for the financial health of your business. Read more...

Credit management

Credit management is central to your cash flow. Your credit policies and procedures should be designed to collect debts quickly and effectively, and reduce the risk of late payment and bad debts. Read more...

Obtaining finance

Securing finance may be necessary to start or grow your business. Be aware of the options available to you, the process for obtaining a loan, and the cost of borrowing so you can factor it into your financial plan. Read more...

What's next...

• Managing your financial records
• Understand your figures

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