Benefits of financial management
The stronger your financial management the greater the opportunity you have to maximise your profits in the short term and to grow your capital value in the long term.
The stronger your financial management the easier it is for you to raise finance, and probably at a lower cost. Obviously banks prefer to work with business owners who can control their finances well.
Good financial management leads to a transparency of figures and supports a real understanding of the numbers in your business. It makes it much easier to find savings, to show others how profitable your business is and simply allows you to sleep much easier at night.