If you want to grow or change your business, knowing which option is right can be a challenge. Take control by getting to grips with strategic finance concepts like balancing, forecasting, and raising capital.
This quick self-assessment will shed light on your strengths and the areas you should focus on. By the end, you will have practical steps and expert advice to help you master money matters.
Many small business owners follow their instincts when making decisions. A working knowledge of financial strategies means you don’t need to leave your business’s future to chance. When money’s involved, the most successful businesses are able to check their gut feeling with informed insights.
Strategic finance is more than shares or interest rates. It means you can be more deliberate in your business’s approach to spending, saving, borrowing, and raising money from investors. It helps you spot opportunities, and decide which to take.
Being strategic about finances sets you up to steer your business with certainty, and apply advice from an accountant or advisor in the best way.
Our strategic finance section delves into key concepts and outlines how and when to use business finance tools to achieve your goals.
Our self-assessment is a good way to test your knowledge of the concepts and terms you’ll find throughout this section.
If you’re new to balance sheets and tracking the way cash flows in and out of your business, check out our tax and accounting section for tips and advice on business finance basics.
To use your money well, it helps to speak the language of business finance — and confidently read and interpret your financial figures. Whether you’re experienced or just learning the ropes, take this assessment to find out where you need to focus.
At the end of this assessment, you will get: