The handbook is for entrepreneurs who do not understand how business finance works relating to other business functions. It is recommended for start-ups owners who feel uncomfortable about finance and don’t know where to begin. It has 7 systematic steps in approaching finance.
Step 1 – 3 assist before you start a business in the first 3 years. In step 1, you set SMART financial goals with rituals to ensure you achieve them, step 2 outlines key resource being yourself and how should it relate in selecting appropriate business structures by assessing against pros, cons, income tax and financial considerations. Step 3 deals with brief legal obligations as director who runs a registered entity, taxpayer, trader and employer. Step 4 and 5 focus on the detailing how ‘world of finance’ work from concept to bookkeeping with an aim to identify key role players in financial reporting you need. Step 6, provides guide on how to design systems and controls including administration filing. Last step, evaluate finance performance and position using ratios providing detail of possible reasons and strategies to implement.