Financial management is one of the most important responsibilities of owners and business managers. They must consider the potential consequences of their management decisions on profits, cash flow and on the financial condition of the company. Middelburg Chamber of Commerce and Industry hosted a one-day training session for small business owners. 25 businesses attended the training.
The businesses were given an extensive overview on:
- Business works
- The importance of a business plan
- Understanding your financial management function
- Understanding your financial statements
- The importance of record-keeping
- Financial concepts simplified
- How to manage cash flow
- How to draw up a budget
- Basic training on how to compile financial performance reports
Facilitator Mr. Zanele Sithole from The African Olive Institute said that a business manager should be able to plan, organize, control and lead her department to get profitable results.
The training was aimed at assisting the SMME’s business owners to understand their business position financially. The training overview was about understanding how a business works and financial management functions.
Please contact the BLC for more information on our projects and how you can get involved.
businesslink@middelburginfo.com
0132432253