Starting a business is a giant step, but you must stay on course to nurture and grow your business. Managing your business requires skills which you must constantly seek to acquire and improve on. Tested tools of business management will also provide leverage to the business if you understand and use them well.

Read our articles here which present some of the management tools that will prove handy if you deploy them in your business.

Understanding And Using The Balance Sheet To Run Your Business

The balance sheet is a major financial statement to capture the financial health of the business. You definitely need to regularly evaluate the financial state of your business and, for this, you need to understand the balance sheet and know how to use it. This article explains just that.
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Don't Lose Millions Before You Know It

Internal control is the defense mechanism of your business, giving it internal strength without which it is easy for several factors to weaken and possibly ruin it. What is internal control and how can you institute effective controls to protect your business? Find answers in to these in this piece.
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See more articles on growing your small business below this section (below).

More articles on growing your small business

Franchising As Vehicle For Business Growth

Franchising entails licensing other parties to do business using your business name and system. This could easily be a vehicle for relatively faster expansion of the presence of your business and brand. What are the benefits to you as franchiser and is this an option worth pursuing? We explain the workings of a franchise arrangement and show what it could mean for your business.
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Structure Your Business To Appeal To Lenders

You don't have to wait till you are in desperate need of financial support before you begin to position your business in a manner that will appeal to parties that you may approach for assistance. It may prove untidy and unimpressive and spell failure to get the help you need. That is why you need to organise your business to reflect practices that will inspire prospective lenders to welcome you. Learn what you can do to achieve this.
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Understanding the Profit and Loss Account

A complement to the balance sheet, the profit and loss statement is another financial statement that is vital in monitoring the performance and progress of your business. You need to understand it to be able to assimilate the indications it presents about your business and its direction. Read this introduction to the structure of a profit and loss account and what it says about the business.
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Understanding the basic Cash flow Statement

You may not be an accountant, but there are aspects of the business, as owner, that you cannot overlook. That means you need to understand the basics. This is a basic guide to understanding a cash flow statement, a key tool of business management.
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