As per economic terminology, Financial Marketing is certainly not but correctly utilizing all the resources available by proper budgeting and accounting. This includes risk management and insurance prospects also. One must know some fundamental concepts about small finance business management before beginning any organization so that the company can grow successfully.
• Accounting: Trained professionals are hired for accounting
in the event of MNCs and big companies. In the event of small company, it is better if the owner has a little understanding on keeping accurate financial records. Insufficient proper accounting knowledge can increase the business failure chances by 25%.
• Cash-Flow Projections for
Small Business in Malaysia: Financial managements an art as well as science. It is difficult to plan the expansion along with other expenses without properly monitoring the cash flow. Income generally involves two projections, i.e. total revenue and total expenses.
Marketing Techniques: They play a vital role within the success of any business, whether it may be big or small. Track all of the ads and target the correct viewing groups. Make sure that the number you spent on advertising gets utilized in more ways.
• Loan Proposals: Maintain good relations with bank and lenders
to be able to acquire loans whenever you want. Obtaining a loan isn’t a single time process and ensures to submit foolproof proposals so the lenders/banks get equally impressed along with you.
Different Types of Credit: Several banks support start-up business and by maintaining good relations with bankers, you will get an idea about different credit policies. This will help you assist in enhancing the overall potential of your business.
• Savings and Investments:
Make use of the savings and available investments efficiently. Having understanding of stocks, bonds and other money markets are very useful in using the business to new heights.
• Timing: Timing plays
a vital role in small company financial management. The owner has to know when you should invest and where to take a position to obtain maximum profits. Hiring a skilled and efficient money manager is worth considering if you wish to expand your company really fast.
• Start-up Finds:
Most of the small business owners find it hard to mobilize resources and this problem is commonly observed in greater than 50% of businesses. Before the start of company itself, plan at least 3-5 years activities and make sure that you won’t face any financial problems many years.
• Payrolls:
Keeping the payrolls secure and streamlined is essential. Check writings, automatic bank deposits are the most preferred methods and maintaining the same can become hard once the company starts developing. Planning well in advance will surely save unnecessary headaches.
• Complete
Financial Plan: Tell your accountant all of your requirements and design an agenda where the inflow is extremely smooth. Note that a little mistake in studying the inflow can hamper the general business prospectus. Think about the future and become in front of others.

Read More