How do you know that the company afford to obtain more credit facility?

Taking on a debt if you have a reasonable need, a sound financial track record, a firm financial history, and stable business, most banks, finance institutions, investors, etc will be willing to lend you the money. Funds are required for different reasons. It could be the need of cash itself, or the need for the financing to purchase machinery or more equipments, even better acquiring big assets such as a property. It is alwaysContinue reading “How do you know that the company afford to obtain more credit facility?”

Data Capturing,Transactional Allocations and Reporting

Data capturing is important in every business, not for future use only but for the end results. We need to make sure that we understand how each transaction affect our books, as that will have an effect on our reporting. 1. Capital – at no point should money put into the business by the ownerContinue reading “Data Capturing,Transactional Allocations and Reporting”

5 Accounting Categories that every Business Owner must understand.

There are 5 categories that I always emphasise that every entrepreneur must know and be clear about, for them to understand their businesses better. 1. AssetsThese are valuable items with a long lifespan. Assets are extremely important in any business as we use them over and over again to generate income. We have 2 typesContinue reading “5 Accounting Categories that every Business Owner must understand.”

SCALING YOUR BUSINESS

Many business owners are unaware that growth and scaling are not the same. Growth is defined as an increase in capacity, operations, and revenue, but this increase comes with a concurrent increase in costs for the company to earn more money. Scaling entails gradually and steadily expanding a business to sustain its growth over time.Continue reading “SCALING YOUR BUSINESS”