Successfully started and are running a small business? That is no small feat in today’s economy, but as with any project, passion or otherwise there are some features and actions that are essential to maintaining health.
The financial health of a small business is not just vital because it maintains a lifestyle, it is also a major determinant of the overall — and forecasted health— of the business. If shortcuts are taken, things overlooked, or problems ignored, that can spell disaster in the future.
The financial health of a business will encourage or impede the ability to provide great products and services. As such, here is a list of things to keep in mind when maintaining the financial health of a small business.