Through Financial Education, Standard Chartered Bank aims to build financial capability among vulnerable groups such as youth, women and small businesses with limited knowledge and access to financial services to demonstrate our brand promise, Here for good.
As part of Corporate Social Responsibility, we have two programs; Financial Education for Youth (FE4Y) which is a set of programmes aimed at building financial capability of the world’s youth and Education for Entrepreneurs (E4E) aimed at building financial capability of small businesses with a focus on women led enterprises, which is why we are connecting with #MotherlandMoguls. For more information, visit Standard Chartered Bank’s website.
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1. Managing cash flow
This topic covers the flow of cash into and out of a business, with articles and guides we reveal the importance of monitoring cash flow.
Money dictates the pace of growth for our businesses, and also the pace of progress of our lives. The absence of money brings business to a standstill and slows our lives down.
Planning cash flows is tantamount to respecting the King. Cash must circulate in your business, from your financiers and customers, to be used for purchasing inventory or stocks, investing, paying for labour and some lying around in a bank account to handle emergencies.
How you handle your cash flow could make or break your business. But if you aren’t sure exactly what “cash flow” means, this guide is where to get started.
Now you know what the cash flow is and understand the intricacies of the whole process, so what next? Strategies to manage it of course. This guide provides them.
When it comes to your business, it needs to have a minimum amount of cash to remain afloat. Poor cash flow management has been known to floor businesses. At the root of the famous Enron scandal was the management of cash flow. That is why #MotherlandMoguls who are their own #Bosses need to pay attention to it.
We’re all about budgeting here but more specifically budgeting for business. If you’re having difficulties budgeting for your business, what are your waiting for? This topic is for you.
By the very nature of small businesses, the scarcity of funds, the reliance on the founder, and the advantages of a budget means that these small organisations need them most.
This article debunks three budget myths; “As long as I have prepared the financial accounts I don’t need a budget.”, “Only big businesses need to do them.” and “They always turn out differently.”
The budget cycle simply refers to the phases or stages that you should go through while working on the budget for your business. With these 3 C’s you’ll ensure that your budget is works for you.
To give you a look at how you can go about this process this article takes you through four types of variances that can occur in your business and the kind of decisions you can make to remedy.
3. Financial accounts
When starting out a business you essentially become a jack of all trades. Accounting is a skill that is necessary for small businesses but that can also be daunting. This topic breaks down bookkeeping and reviewing accounts for startups.
A basic introduction to the business accounting concepts that you need to understand as you run your business. Whether or not you have an accounting degree, these are things you can do with your eyes closed.
The ultimate goal of a business is to make money for the entrepreneur. On the way to attaining this goal, there are many things that you must do in your business including keeping financial records.
With this guide, you’ll learn what income statement and balance sheets are. We’ll also be showing you the key ratios you need to keep in mind when analysing business performance.
4. Business Planning for the Future
Master your business plan
Creating a business plan
How to put a business strategy/objectives into a business plan
5. Personal Finance
Personal finance 101
How and where to save
Why and where to invest
Funding your life and business
How to monitor a budget to inform personal decisions