Why is Financial Management Important for Business?

[Suba]

Many people mistakenly assume that financial management is only the activity of recording financial transactions and is only the responsibility of the finance department, but in fact financial management has a broad meaning, from planning, budgeting, management, control, auditing to investment and business development and expansion.

Financial management also discusses sources of funds as capital (equity) whether from personal funds, friends, venture capital, stock sales and also retained earnings. In addition, financial management also discusses sources of funds from debt (issuance of bonds) etc.

 

[Min George]

Financial management is very important for businesses because it helps the business to keep staying in production.

 

[neku]

The business should have enough income to pay business expenses, especially domain investors who have to pay a large amount of money for domain renewals every year.

 

[Starmix]

Financial management is one effective and ought to be done by the business owner to protect his business business against future problems like losses or possible bankruptcy.

 

[Augusta]

it is to avoid getting your business into a loss. it is good to manage your finances for your better better and grow your business

 

[Springtime]

Financial management is crucial to any businesses. That involves financial planning, budgeting, auditing, keep track of costs and expenses and getting funds to finance the business. Without proper financial management, the company will eventually fail.

 

[Trush Jodie]

Business involves having to make decisions that involves money. That's why financial management is important in business.

 

[Starmix]

A well - managed finances could be a sure way to the owner's financial security. His ability is a testament of how he values his sacrifices in reaching his vision to empower wealth through his positive ways. He will have a bountiful and prosperous life.

 

[eLdavis]

For a business to grow, financial management plays a very important role, it also helps them to carry out special planning as well.

 

[King Belieal]

Is business not all about making money? How would you be making money without knowing how to manage it?