Training and development are often overlooked by companies and organisations....
Two words: “Management” and “Account”.
Running a business without a management account is like driving in an unfamiliar town without a GPS. Your sales and “profits” are like the new places of interest, exciting shops, and restaurants, but without your GPS, you don’t really know where you are truly heading. Where is my money despite all these excitements?
Our crowdfunding associates at Majawit & Co are surprised to find out that many SMEs don’t bother to have Management Account done. In fact, a lot does not even know what they are.
They are simple, quick and relatively inexpensive to produce every month or quarter. Like a good GPS, they provide constant feedback on your
These “readings” will ensure that you know your direction at all times and (hopefully) make better decisions. How much do you need to allocate for the next quarter? How long can you last with your current reserves? How much and how long have invoices not been collected? Do you need to raise capital from crowdfunding or get a bank loan? Should you expand now or hold on for a little longer?