Avoiding a Financial Crisis: How to Keep Your Small Business Alive
Having a superb product, soaring sales and stupendous customer service are undoubtedly some of the things which go into making a successful business. But all of this is irrelevant if you suffer a financial crisis. Without a sound stable financial position the slightest shock can be enough to send your business crashing to the ground.
So what can you do to ensure that all your hard work is not in vain? What can you do to make sure that a financial crisis doesnt rock the boat or even sink it? Lets take a look at what can cause these jolts and, more importantly, what you can do about it.
Poor Record Keeping and Administration
Business owners are usually not good record or bookkeepers! People who start businesses are the ones who have great ideas, see a gap in the market or have the personality to sell anything. They are not people who jump out of bed in the morning and say Great, its a VAT and paperwork day today!
If you are to keep your business on the straight and narrow then you have to accept that there are going to days like this; you cant avoid it. You must keep...
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