Kashia app promotes financial management as fundamental to business survival

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Over the past ten to fifteen years, Nigerian society has made notable strides in embracing self-employment/entrepreneurship. The days are long gone when a freelancer commands less respect than their corporate counterpart.

Building confidence in the accomplishments of others, many Nigerians quit their jobs to start a business. The experience of starting a business would undoubtedly change a life forever. For some people, this turned out to be the best decision they ever made, while for others, it’s the other way around.

The reasons for each of the experiences can relate to many things, but one of the most common of all is the lack of organization in the financial structure of their business.

Stella Morrison, in a Business News Daily article, said:

“It’s important to research your industry, find competitors, understand the risks and map your finances before starting your business.”

I find it interesting to see someone’s business plan without a clear financial management plan.

Money management is one of the most important aspects of business, but many people don’t research the best approach to managing their finances before taking the big step. Of course, they end up in a big financial mess within a few months or years of running the business.

If you are considering starting your own business and you don’t know what financial management means; it is important to take the time to research and understand what this entails before making such a decision.

A simple definition is as follows: financial management is the planning, organization, direction and control of financial activities such as the provision and use of your company’s funds. It helps to improve the profitability of your business; Increases the overall value of your business; Ensures economic stability.

One of the best ways to manage your business finances brilliantly and easily is to use financial management tools or a financial management mobile app or websites like the Kashia app.

Kashia is a digital accounting application offering unique features that enable businesses to carry out their financial operations. The application is loaded with simplified accounting methods such as bookkeeping, invoicing, inventory management, tax liability management, reporting, etc., which enable businesses to operate effectively and efficiently. With the Kashia app, recording sales and expenses, sending invoices, tracking debtors, managing inventory, up-to-date tax reports, and exclusive access to business information is simplified enough that you don’t need to hire a professional accountant to do it for you.

Leveraging such a beneficial platform can help your business establish a clear financial management plan, as there are many benefits to be had from it.

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