To grow and maintain a successful business it’s vital that you understand and manage your cash flow.
Knowing your figures is also key if you’re considering approaching investors and lenders, as it’s one of the first pieces of information they’ll need to know. But, if you’re perplexed by profit and loss or baffled by balance sheets, help is here.
Graham Niven is a business-finding specialist and founder of Tandem Financial Solutions. In this episode he talks through the key financial terms that startups need to have a grip of, including:
- Profit & loss
- Sales v turnover
- VAT
- Gross margin
- Balancing the books
- How to avoid common financial mistakes
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