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Drawing up the right financial documents matters to your small business’ success more than you think they do. They can give you a clear view of your financial health and can help you make sound decisions. Below are the six most useful financial documents that you can benefit from: Income statement – This shows your revenue and expenses and indicates if your business is profitable. Cash flow statement – This…  Read more

Financial models are invaluable tools designed to help you understand and project the financial health of your business. By simulating different scenarios and examining potential outcomes based on various inputs like sales growth, margins, and cash flow, these models provide a comprehensive picture that aids in informed decision-making. Practical steps for leveraging financial models: 1. Planning and forecasting Start by creating a base financial model incorporating your current financial data.…  Read more

If you’re like many business owners, you may find yourself struggling to understand what your finances mean or how you can use your financial information to make decisions for your business. Often we get into business because we love a product or service we want to provide. It’s not as common that we love managing the financial aspects of our business.  As a business owner, you have your best chances…  Read more