BOOK REVIEW | The essential finance handbook for entrepreneurs

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by Precious Mvulane


Running a business will likely be one of the most challenging things you’ll ever do. However, armed with the right advice and guidance, it can also be one of the most rewarding – providing a solid financial future for you and those you love.

Running a profitable and sustainable business begins with a solid understanding of the basic financial principles that underpin all successful businesses.

SMART financial goals

This handbook helps to provide that understanding, and is aimed at entrepreneurs and owners of start-ups who are not clear about the financial side of running a business, or who perhaps have no idea where to begin.

The Essential Finance Handbook for Entrepreneurs offers seven systematic steps to setting up and managing your business finances, enabling you to set the foundation for success.

In Step 1 you set SMART financial goals with rituals to ensure that you achieve them. Step 2 introduces you to the key resources in your business – you – and how to select an appropriate business structure bearing the pros and cons, income tax and financial considerations in mind. It also looks at your role as a taxpayer.

Step 3 deals with your legal obligations as a director running a registered entity. It also looks at your role as a taxpayer, trader and employer. Steps 4 and 5 focus on the ‘world of finance’ and how it works. It helps you identify the key role-players needed for good financial management and reporting.

Step 6 provides guidance on how to design systems and controls in your business to ensure efficiency and profitability and minimise risk. The last step helps you to evaluate financial performance using ratios. It details possible reasons for poor performance and suggests strategies that can be implemented for success.

The book includes over 240 best-practice strategies, exercises, tips and case studies. The reader also has access to over 48 templates, tools, checklists and action plans that can be downloaded.

This is a comprehensive and accessible guide for entrepreneurs and people dreaming of their own business. The personal lessons learned by precious and her own business journey are inspirational and add great value.

– Jana Marais, Finweek magazine

About the author

Precious Mvulane is a chartered accountant with over 20 years’ experience in various finance roles within the private and public sectors.

She is also a content developer, certified Trainer and Master Facilitator. She has empowered over 2000 entrepreneurs through her training programs and workshops. She believes poor financial literacy is one of the main reasons start-ups fail.


For more information | Helen Holyoake | Helco Promotions | +27 (0)82 452 9488 mail me | 


 

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