When you deliver goods or services and you extend a business customer credit by accepting a promise to pay (accounts receivable) later through an invoice, then in a sense you are loaning your customers cash. During the whole process of acquiring loans, the first question every person must think about is whether the loan is essential at that moment or not. What is an example of a credit policy?
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Startup business risks and entrepreneurship often go together. After all, building a business involves fulfilling a need with unique solutions, and no solutions can be created successfully without trial, error, and continuous testing. How do you reduce startup business risks in the early stages? Continue reading How Do You Reduce Startup Business Risks in the Early Stages?
Running a successful company puts a lot of pressure on the business owners to deliver recurring cash flow that can be counted on at home.
How do you manage business and personal finance?
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One of the biggest financial mistakes that put businesses at risk is by mingling their personal and business finances. As a business owner, you don’t want to open yourself to liability or fall further into debt due to poor money management by letting your business and personal expenses mix.
How do you keep business and personal finances separate?
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Data analytics is the birthplace of great business practices in the 21st century. The marriage of hardline data and influential business intelligence insights means a level of awareness and reactivity for businesses that was never before possible. Learn the answers to why is data analytics important in risk management? Continue reading Why is Data Analytics Important in Risk Management?
During the economic crisis, it seemed as though we’d been constantly running in crisis mode. To put it mildly, the worldwide situation got out of control years ago and it didn’t show signs of improving soon. Uncertainty abounds, fingers were pointed in every direction, and many of us felt powerless to do anything but wait and worry. In those situations, it’s best to know about crisis and risk management. Continue reading What Is the Difference Between Crisis and Risk Management?
Mistakes are an inevitable part of running a business. It is a common practice that a business faces a drawback due to an unpredictable financial mistake. Some blame it on ignorance, some on lack of professional guidance, while others are simply trying to find someone to blame. What financial mistakes put business at risk? Continue reading What Financial Mistakes Put Business at Risk?
96% of startups fail before they get to the ten-year mark, according to Inc.com. In most cases, their failure trickles down to one vital question; what could go wrong? Those who look for answers to this question early enough manage to protect their business from common risks and create the best atmosphere for its growth. Continue reading How to Use a Risk Assessment Matrix for Project Management