Good financial management is essential for businesses, including small and medium-sized enterprises (SMEs) to prosper. In many cases, failure could have been avoided if the owners had applied sound financial principles to all their business decisions. Entrepreneurs need to understand basic financial management even if they plan to leave the more complicated work to qualified accountants.
Entrepreneurs usually start their businesses wearing many different hats to fulfil the various roles required for the operations of a new business. Over time, as the business grows, it becomes increasingly necessary to delegate certain functions, such as taxation and
accounting, to subject matter experts. The process of employing an in-house accountant or engaging an external accounting firm that provides public practice services represents an important decision-making process throughout the business life-cycle.
Click here to download the full Guidebook!
