Financial Management Planning

Introduction
Business Planning involves determining what are appropriate objectives for the business and how those objectives are going to be accomplished. Success may be ensured only by focusing on all factors affecting a business's performance. Focusing on planning is essential to survival yet this is one of the most commonly skipped steps in running a small business
This article is presented in the form of guideline to manage a small business. In this article special emphasis has been given on short term and long term planning and how planning is the key to success of the business. Most businesses fail due to financial problems such as inadequate working capital, cash flow problems and increased debt financing. Lack of management experience, including human resource management and internal financial management, are dominant problems in the growth stage of a small business. Planning covers the different types of planning you might need to run your business successfully. Planning is...