Managing Your New Business’ Finances

Bruce Barringer

A business owner’s ability to get a business up and running and to keep the business operating smoothly hinges largely on prudent financial management. Regardless of the quality of a product or service or how compelling of a need it fills, a company can’t be viable in the long run unless it is successful financially.

There are many practical issues involved in the prudent financial management of a business. A business owner must be aware of how much money the business has in the bank and if that amount is sufficient to satisfy the business’s financial obligations. Just because a business is successful doesn’t mean that it doesn’t face financial challenges. For example, many small businesses ...