The cornerstone of any successful business is a well-executed, thoughtful financial strategy. And all financial practitioners will agree that a financial strategy begins with financial planning. Indeed, financial planning is the very first principle of financial leadership in any organization. According to smallbusiness.chron.com, planning “helps an organization chart a course for...
Financial planning for your company can be a virtual minefield to navigate. If you are importing goods, the fluctuations in the exchange rate and the volatility of the Rand can make you feel like you are on a constant roller coaster ride. Changes in employee taxation legislation or something as...
Financial planning is a “key component” of managing and driving business performance, and yet it “continues to be of limited value and mired with conservatism” for many companies. This is according to global auditing firm PwC. In its report Financial Planning: realising the value of budgeting and forecasting, PwC mentions some...
Taking ‘control’: the first step to effective financial planning For many business owners, raising the topic of ‘financial planning’ precedes an awkward silence or the acknowledgment that this function is somewhat neglected. After all, it’s difficult to plan your company’s finances if you’re unsure when the next deal is coming in,...
