Finance tips for business owners

How-to

Running a business is a challenging and rewarding endeavour.

It requires careful planning, financial management, and the ability to adapt to changing circumstances.

Here are some tips for business owners and finance advisers who want to improve their skills and knowledge:


Develop a solid business plan

A well-written business plan outlines your goals, target market, and financial projections. It also helps you to identify potential risks and challenges, and to devise strategies for addressing them.

Stay organised

Keep track of your financial records and documents, including income and expenses, contracts, and invoices. Use tools like spreadsheets, accounting software, and project management software to help you stay on top of your business finances.

Monitor your cash flow

Cash flow is the movement of money in and out of your business. It’s important to closely monitor your cash flow to ensure that you have sufficient funds to meet your obligations and invest in your business.

Find new ways to grow your business

At Fifo Capital, we specialise in helping SME and corporate businesses to improve their cash flow and their overall business, using their working capital.

Once you understand how to use working capital effectively, you can access a whole new level of potential benefits, discounts and security for your business and your supply chain. Book a free consultation with our team to find out more.

Understand financial ratios

Financial ratios are used to assess the financial health of a business. Some common ratios include the debt-to-equity ratio, the return on assets, and the profit margin. By understanding these ratios, you can identify areas of strength and weakness in your business and make informed decisions about how to allocate resources.


Seek professional advice

Don’t be afraid to seek the advice of a financial professional, such as a CPA or financial planner. They can provide valuable insights and guidance on how to manage your business finances effectively.


Learn from your mistakes

No one is perfect, and it’s natural to make mistakes when running a business. That said, it’s important to learn from your mistakes and use them as opportunities for growth and improvement.

Ready to take the next step?

At Fifo Capital, we specialise in helping SME and corporate businesses to improve their cash flow and their overall business, using their working capital.

Once you understand how to use working capital effectively, you can access a whole new level of potential benefits, discounts and security for your business and your supply chain. To get started, apply for funding or submit an enquiry to talk to our team.

Subscribe to our newsletter

Keep reading

Trucking Business Loans: Available Solutions & How to Apply

Explore the various solutions for trucking business loans with Fifo Capital. Understand the types of loans available, how to apply, and how they can fuel your trucking business's success. Start driving your business to a better financial future today.

View more

Working Capital Solutions for Small Business in 2023

In today’s fast-paced business world, maintaining a healthy cash flow is crucial for small business success. But how can you unlock the much-needed working capital to keep your business thriving? From understanding the importance of working capital to navigating different financing options, this comprehensive guide will provide you with the tools and knowledge you need […]

View more

A guide to better business finance in 7 steps

When it comes to finding the right finance solutions for your business, it’s important to take a thorough and tailored approach. To get the lowdown on what makes a good deal, and what makes an ideal business to use working capital finance, we spoke with Mark Occhiuto. Mark is a seasoned sales professional with extensive […]

View more