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Financial Strategy is Essential for Your Business

Financial Strategy is Essential for Your Business

Why Your Financial Strategy is Essential for Your Business

Being an entrepreneur and managing your business finances is not an easy combination of roles to take on. And yet, the earlier you start, the better it is.

Small businesses in India do not spend adequate time to manage their finances early on, and this does create an issue for the survival of these businesses. However, more and more businesses are realizing its significance and trying to tackle this problem head on.

How Small Businesses Manage their Company’s Finances

When Intuit India commissioned a survey on small businesses, and asked around 350 small businesses about the company’s priorities and what they could have done differently, they came up with some interesting answers.

Around 78% wished to improve their financial management skills in the financial year.

Nearly 75% of small business owners we spoke to are prioritizing investment in financial management for better visibility and control of their business.

And almost 75% of small businesses understand the need to educate themselves on financial management – from the point of view of areas of investments, and the associated areas of impact.This trend is seen even among companies that have been in existence for a few years, and is certainly not just an issue faced by the new companies alone.

Financial Strategy is Essential for Your Business

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