Management of business funds and small business

Capacity Building Capacity Building Seminar Presented Seminar Presented at The University of at The University of Mkar, Benue StateMkar, Benue State

Title: Title: Management of Management of Small Business Small Business and Business and Business

Funds Funds

Presented By Presented By Chinedum AzuhChinedum Azuh

7 Tips to manage Cash Flow Better

1. Create a cash flow budgetA cash flow budget helps to ensure that you can comfortably pay all your expenses and enables you to manage your revenues and expenses in a proactive way.

2. Know the sensitivities in your cash flow

It's important to pin down which items - such as price, volume, or overheads - will have the most impact on your cash flow.

7 Tips to manage your money better

7 Tips to Manage Your Cash Flow Better

3. Manage the credit you are extending to your customers

There are a number of different ways to improve how you manage your receivables.

4. Keep your payables up-to-date

Regularly reviewing your accounts payable schedule helps determine how well you are keeping up with your credit obligations.

7 Tips to Manage Your Business Funds

5. Reduce expensesLook for ways to cut back: for example, can the cost of promotional materials (such as printing or production) be reduced without compromising their quality and impact?

6. Use credit effectivelyThe best credit facility will depend on your company's individual circumstances, business plans, and existing credit facilities.

7 Tips to Manage Your Business Funds

7. Put your company's surplus cash flow to workAssess how much money you need to set

aside for emergencies

As well, consider how potential changes in the economy, such as currency or interest rate fluctuations, could affect your revenues or expenses.

Any surplus in your cash flow can be used for business expansion, to pay off debts, or to maintain a certain level of working capital.

5 Key to 5 Key to Overcoming a CrisisOvercoming a Crisis

#1 – Keep in mind that business #1 – Keep in mind that business without risk is business without without risk is business without growth.growth.

#2 – Work with the facts. Listen to #2 – Work with the facts. Listen to the market, not your ego.the market, not your ego.

#3 – Act quickly and decisively. #3 – Act quickly and decisively. Delay makes things worse, not Delay makes things worse, not better.better.

#4 – Be a proactive leader and #4 – Be a proactive leader and clearly communicate your clearly communicate your decisions.decisions.

#5 – Be resilient and continue to #5 – Be resilient and continue to innovate. Success is not forever,innovate. Success is not forever,

nor is failure.nor is failure.

5 Tips for First Time Investors5 Tips for First Time Investors

#1 – Invest with small amounts of money.#1 – Invest with small amounts of money.

#2 – Don’t invest what you can’t afford #2 – Don’t invest what you can’t afford to lose.to lose.

#3 – Try not to let your emotions control #3 – Try not to let your emotions control you.you.

#4 – Be realistic.#4 – Be realistic.

#5 – Embrace your failures.#5 – Embrace your failures.

Thank You Thank You for for

Listening !Listening !

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