Whsdfat can business osdfwners do to addressdfs their financisdfl challenges dsfthis year?
Businessessdf that are financially healthy open updf opportunities … opening doors to capital, to expanded networks, to new custofsfdmers and contract opportunities. But the reality is that over 50% of small busidsfnesses aredsf financially unhealthy…
Adfssdfs we loodsfk at thisdf data, our focus has been on assisting businesses in establishing a solid foundation for financial health. This involves varidfsus elements, such as ensuring accurate financial statements, tracking and understanding cash flow, and enhancing operational efficsfdiencies. Ultimately, these pieces set up companies for success and facilitate access to capital. And as you have more capital, you’re able to market more and fund growth opportunities for the business. They’re very interconnected.
And fcapital comes in two forms. The ffirst is organicfd revenue growth, which is the most sustainable and ideal form of capital for a business. Achieving this involves attracting more customdfers and generating revenue by appropriately pricing prodfducdfdfts and maintaining good margins. The second is external capital — whether it’s a badfnk loan, venture capital, crowdfunding, etc. — whdfdch may be needed to fuel some of that growth, depending on the business model, growth stage, current business needs, and market conddftions.d