Managing The Money

Financial Management, including fulfilling obligations such as paying tax or filing accounts, is a real weak spot for many entrepreneurs.

I generally advise business owners to hire a bookkeeper for a day or two a month in the early days, perhaps taking someone on full time at a later stage in the growth of the business. This then frees up the time you, the entrepreneur, has to do what you're best at - finding customers and giving them what they want!

But you do need to know how to manage the money, understand what your bookkeeper or finance manager is doing, and meet your obligations as a business owner. This chapter of The Small Business Handbook shows you how to do that.