Managing your finances
Financial management for small business means applying general management principles to financial resources of the enterprise.includes funding, accounting and banking.
Resources for financial management
- Five ways to separate your personal and business finances: Keeping personal and business finances separate is crucial for protecting your credit and assets.
- Managing your small business finances: Careful bookkeeping helps you track performance, plan for expenditures, maintain a budget, and manage your payroll.
- A simple start to managing your business finances: Managing business finances means recording earnings and expenses and using this information to make decisions about future business actions.
- Business finance basics: A profit and loss statement is a document that shows how and where income comes into the business and exits the business.
- Start-up business tax tips: Knowing how to manage income taxes for a new business will be a hurdle to navigate.
- Business Healthcheck Tool This tool will provide startups and established businesses practical information and guidance. Get tips, tactics and templates to help you implement good business management practices in your business.
- SWOT Analysis Worksheet Use this worksheet to identify the strengths, weaknesses, opportunities and threats for your business. This information can help you outline goals and strategies for your business and marketing efforts.
Funding your business
There are many ways to fund your business. Besides self-funding, funding by family, friends and invistors, there are also four different types of lenders – a CDFI, credit union, crowd funder and traditional lender – and grants.
- Types and sources of financing for start-up businesses: Funding for a business might come from investments, personal savings, personal or business loans, venture capital, or home equity loans.
- Sources of funding Here is list of small business lenders and grants from government, nonprofits, and accelerators.