Poor financial control is accountable for over one third of failed small businesses. Closures of this type are often associated with a lack of understanding of even the most basic financial terms and concepts, making financial illiteracy and a lack of sound advice the key reason many ailing businesses become bankrupt ones. The ever distracting focus on customer care and production can leave many an entrepreneur in deep water without adequate measures for basic financial control.
An essential tool for new and existing small business owners, Financial Management for the Small Business, provides a valuable overview of the fundamentals of business finance. Author Colin Barrow, founder of the Business Growth and Development Program at the Cranfield School of Management,
outlines a series of practical measures to improve financial control and lift the veil of ignorance that can lead many new businesses to failure.
Comprised of three parts, this sixth edition begins with an introduction to these key financial statements. This provides a foundation for Part 2 which explores the tools needed for financial analysis and Part 3 that covers the field of business planning and budgeting. Offering a concise, comprehensive and accessible reference guide, this title covers all the basics of financial control from cash flow and the control of assets to forecasting and bookkeeping. Recommended by the UK Institute of Directors,
Financial Management for the Small Business is suitable for new entrepreneurs and established small business owners alike. |