Hi. I’m Connie. As a serial “Grandmapreneur®”, I speak to retirees or soon-to-be retirees on the benefits of pursuing entrepreneurship in Retirement. This blog post will help you know how a Finance team can help your small business, which you will need as you consider starting a business.

4 Ways How a Finance Team Can Help Your Small Business

A finance team handles all functions related to your company’s financial well-being. Generally, a finance team is responsible for various tasks, including accounting, recordkeeping, administrative work, and cash flow. Here are the five ways how a finance team can help your small business:

1. A finance team makes strategies. 

They process transactions and update your books. An excellent finance team helps you see beyond your data, providing information for strategic decision-making.

There’s no substitute for the Wisdom that accurate financial understanding brings. If your business runs into unforeseen circumstances (e.g., a pandemic or losing your greatest customer), having a reliable finance team can prevent a crash.

2. The team prepares you for the future.

They calculate your existing financial status. They also identify risks and opportunities that can help your company

These include cash flow recommendations, tax implications, and allocation. Remember, you need finance professionals who understand how your finances are doing. 

3. A finance team helps your business thrive.

Aside from equipping your company with the financial guidance it needs to grow, your finance team disciplines your business without messing with it.

In particular, a finance team does this by monitoring your business’ financial progress. They then compare it against your business plan. As a result, they can provide the financial structure your company needs to meet your goals and vision. 

4. The team brings blind spots out in the open.

Proper accounting effort allows you to have the most current information at your fingertips. In other words, they keep you in the know of your financial status.

With this information, you can make better business decisions. This can also guide you to refocus people, efforts, and financial resources. 

Conclusion

A strong finance team makes strategies, prepares you for the future, helps your business thrive, and brings blind spots out in the open. It’s absolutely worth a place in your business. So, if you want your business to grow, consider hiring one that’ll help you get there.

Disclaimer: The material and information contained in this article are for general information purposes only. You should check with a financial advisor before making any business, legal, or other decisions.

Do you want to be a second-act entrepreneur? My book might just be the answer. It’ll show you that it’s never too late to start your dream business. Check it out now!  Watch my TEDx talk here https://youtu.be/kZxFnEvcivs and learn how to pursue your passion regardless of your age Because… passion has no expiration date!

The post How a Finance Team Can Help Your Small Business appeared first on Connie Inukai.

The post How a Finance Team Can Help Your Small Business appeared first on Connie Inukai.

Connie Inukai Grandmapreneur

As a serial “Grandmapreneur®”, Inukai speaks to retirees or soon-to-be retirees on the benefits of pursuing entrepreneurship in retirement.

Retired from teaching Technical Writing at the University of Maryland and Johns Hopkins University for four decades, Connie Inukai became an award-winning inventor at the age of 68.

Author of "How I got My Product on QVC, The Today Show, The View, and More...In Retirement", she helps others generate free publicity for their products.

She is the creator of Write Your Selfie®, where she inspires people to write their life stories in a fun and easy-to-read format.

Featured in Entrepreneur magazine, “6 Reasons to Pursue Entrepreneurship in Retirement,” Connie encourages Baby Boomers to have an active retirement through business or social entrepreneurship.
Because…

Passion has No Expiration Date!