How well are you managing your business financially?

  • Is your accounting system delivering information that really helps you manage the business effectively?
  • Are you maintaining or improving the margins on your main product lines?
  • What is your inventory turnover? How is it trending?
  • Are you reaping benefits from separating out fixed and variable costs?
  • How do you expect cash flow to vary over the next six months?
  • Is your gearing with respect to debt satisfactory for your type of business? What is your debt management strategy?

If you are the owner of a small business or a budding entrepreneur being able to answer these questions helps make better business decisions.

The following video explains six ways to run a better business financially using the BIC Model.