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Tag Archives: business plan

Starting a Business? Things to Watch Out For to Keep Your Pennies Going Far

Starting a new business is always a risky venture, or so it can seem in the early days!  Keeping an eye on your incoming and outgoing costs is a sure-fire way to ensure that you are making wise decisions financially and that you won’t run aground after only a few months in operation.  Whilst it might seem quite daunting to begin with, there are a number of ways you can keep a tight rein on things whilst watching your little business grow into your dream company. Financial Planning Planning is key to keeping your company afloat.  Draw up regular reports (You can find templates to help with your financial reports online). Reports can help to show how your money is being spent and the money you are receiving in.  The best way to keep up to date on your financial situation is by reviewing it on a regular basis.  Don’t be afraid to plan for the future either, it’s a great way of focussing the income you do have and will give you a long term goal for how any income can be spent.  Budgets are important in all areas of life, even more so in the business world so ...

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