The Essential Finance Handbook for Entrepreneurs

Running a business will likely be one of the most challenging things you’ll ever do. However, armed with the right advice and guidance, it can also be one of the most rewarding – providing a solid financial future for you and those you love.

Running a profitable and sustainable business begins with a solid understanding of the basic financial principles that underpin all successful businesses. This handbook helps to provide that understanding, and is aimed at entrepreneurs and owners of start-ups who are not clear about the financial side of running a business, or who perhaps have no idea where to even begin.

The Essential Finance Handbook for Entrepreneurs offers seven systematic steps to setting up and managing your business finances, enabling you to set the foundation for success. In Step 1 you set SMART financial goals with rituals to ensure that you achieve them. Step 2 introduces you to the key resource in your business – you – and how to select an appropriate business structure bearing the pros and cons, income tax and financial considerations in mind. Step 3 deals with your legal obligations as a director running a registered entity. It also looks at your role as a taxpayer, trader and employer. Steps 4 and 5 focus on the ‘world of finance’ and how it works. It helps you identify the key role-players needed for good financial management and reporting. Step 6 provides guidance on how to design systems and controls in your business to ensure efficiency and profitability, and minimise risk. Finally, Step 7 helps you evaluate financial performance using ratios. It details possible reasons for poor performance and suggests strategies that can be implemented for success.

The book includes over 240 best-practice strategies, exercises, tips and case studies. You also have access to over 48 templates, tools, checklists and action plans that you can download, and you receive a R2,500 discount voucher for Finance Success™ Program distance learning.

Reviews 

“These are the types of books that South African entrepreneurs should read.”
Elizabeth Thabethe, former Deputy Minister of Small Business Development
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“Finance is the language of business. Financial literacy must, therefore, be considered one of the cornerstones of building an entrepreneurial business. As an entrepreneur, not investing in developing your own understanding of financial concepts will severely hamper your ability to grow a substantial business. The Essential Finance Handbook for Business Owners gives you a fundamental understanding of financial concepts and principles; outlines the laws that apply to you and your business; and helps you design financial controls that can be implemented in your business. Comprehensive in scope, this book represents a valuable tool and resource for entrepreneurs.”
Allon Raiz, Founder and CEO of Raizcorp
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“The Essential Finance Handbook for Business Owners is a great companion for any business person venturing into the lonely, but rewarding, world of business. There is a place for motivation and encouragement, but Precious addresses that other need: Hard, cold facts that every business owner needs to know − especially the finance part. Another positive feature of the book is the step-by-step approach. The seven steps allow the reader to target the section in which they are specifically interested. Entrepreneurs do not have time, and any book aimed at them ought to be presented in a manner that makes it easy to read in short instalments. This book does that.”
Victor Kgomoeswana, author of Africa is Open for Business and guest presenter on CNBC Africa
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“This book was written so well, and it uses very simple terminology. Even my mother could understand it.”
Songezo Zibi, former editor of Business Day
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“Starting your own business comes with a lot of responsibility. One of the first and most vital steps in the process usually involves sound financial planning. But, as author Precious Mvulane explains, few start-up entrepreneurs thoroughly understand their own finances.”
Thandi Mavela, BBQ Online
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“When it comes to owning a business, financial knowledge is power. Don’t become a victim to these common financial mistakes.”
Monique Verduyn, Entrepreneur magazine
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“This is an incredibly useful handbook that every entrepreneur and small-business owner should use to help them navigate the veritable minefield of compliance and business requirements. It has been phrased in user-friendly laymen’s terms, taking the legal terms into consideration.”
Niall Gahan, Branson Centre of Entrepreneurship SA
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“This book is practical and concise, and it tackles key concepts that are crucial to the success of a business. It is a must-read, as it helps you to understand the financial concepts and application of systems and controls that will allow you to measure the growth of your business. This book can be of immeasurable value to anyone. I highly recommend it!”
Petunia Mthombeni, Smartxhange Incubators
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“This book is a well-rounded summary of the aspects critical to the success of the day-to-day running of any business. I would recommend it to anyone, as it has the potential to impart immeasurable value − not only to business, but to our everyday lives, too!”
Tefo Kgomotso, Transformation magazine
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“I find that a big hurdle for small entrepreneurs is getting their head around their finances. The Essential Finance Handbook for Business Owners offers easy-to-follow steps that remove this hurdle with ease.”
Suzanne Styles, author and business coach at the Chris and Suzanne Styles Foundation
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“Reading The Essential Finance Handbook for Business Owners could be one of the most helpful gifts that you, as a business owner, ever give yourself. It is a great companion for any entrepreneur venturing into the world of business, which can often be a daunting place. What is immediately evident is that Precious Mvulane really understands what it’s like to be a small business owner, and she writes in a way that is accessible and empathetic. As a result, she instils confidence in the reader.This book provides expert, easy-to-understand guidance to help business owners manage the financial performance of their businesses. Good financial management is essential to the creation of a solid financial foundation. This can then lead to the growth envisaged for the business. What makes this book different is that it tackles the hard, cold facts that every business owner needs to know. It achieves this by providing the reader with easy-to-follow sections that address key finance management issues. Readers can, therefore, refer to advice when they need it. We think this is a must-read for any small business owner.”
Melanie Hawken, founder and Editor-in-Chief of Lionesses of Africa