There is no additional rule; all you need is to systematically note down all the financial expenses or transactions and work towards your business goals.
Knowing where to begin with expense management can be quite confusing. For most startups, processes for managing expenses tend to evolve according to day-to-day demands and personal preferences.
The truth is that managing your startup finances is not that difficult, because you can operate on a low budget while keeping track of your financial activities with tools.
Money is one of the most important needs for entrepreneurs to fulfill the basic needs (setup) of the company. But the question arises, do you have enough funds? Most of the startups will answer with a ‘NO’.
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As per the report published by Fundable, approximately 0.91 percent of startups are funded by angel investors (an individual who invests in startups), while nearly 0.05 percent is funded by VCs. Guidant Financial of small business entrepreneurs found that around 10% were still using funding from family and friends. Economic Times a business portal reported,…