Sarah is a home businesswoman who is ineffective at managing her business funds. She sells packaged palm oil. Most times, she supplies her customers who are supermarket owners in large quantities and receives a certain percentage as upfront payment. This means she gets her balance in bits.
She has two bank accounts for her business and she finds it really difficult managing the accounts because she’s more focused on gaining more customers for the expansion of her business and most times fails to keep track of her expenses.
Meanwhile, Tolu her friend has been telling her of three simple ways to manage her business funds. This is because she has learned some of these tips about managing her money from past experiences since she started her own business.
Here are the three simple ways Tolu manages are business funds:
She checks her bank accounts at least once daily.
That way she is able to track inflow of payments from all her customers.
She always has a spending limit.
With this she ensures that whatever she’s spending her money on doesn’t affect her future plans. She draws a budget ahead of time to achieve this.
She started a savings plan.
She did that on reaprite.com and it has helped her build up money for emergency situations. The interest she earns on her plan is a huge plus. She even urged Sarah to take advantage of the ongoing ‘Road to December’ promo plan so she can earn the 20% interest per annum.
Just like Sarah many business owners fall into one of those two categories:
- They are unable to track their expenses
- They are unable to manage their business funds
- They don’t have a savings account
Managing business funds becomes easier with a Reaprite plan. That way, an entrepreneur can be rest assured that they will maximize their business profits.
Visit reaprite today to start a business saving plan.