Page 31 - JaKita 06th Edition 2021

TIPS 31

Financial Management Tips

to Run Your Small Business

Provincial government of Jakarta has always been trying to enhance
entrepreneurial climate through Jakpreneur program. If you want to start a
new business, keep in mind that the success and sustainability of your business
doesn’t only depend on how high the sales figures are, but also on how well you
can manage the money. Whether you run a small or big business, it is important
to master financial management.

Separate personal and business Create budget planning
finance
Adjust your expenditure with
You can put them in different sales target or revenue. Avoid
places such as in envelope, wallet, unplanned spending and
or separate savings account. manage monthly evaluation.
Hence, you can monitor whether
your business is developing or not.

Monitor your cash flow Control your cash flow

Keep a special notebook to record Prevent any cash flow
your income and spending. To leakages and try to prioritize
ensure there is no missing bill, mandatory spending such as
review the balance every day. employees’ salary, expenses
on staples, debts and such.

Be strict and discipline to yourself

As a business starter, it is
important to be strict and
discipline in managing your
finance, for it will determine the
future of your business.

Infographic: Tommy K.R.