Small Business Owners

As a small business owner, financial literacy and having an understanding of where your money is going is important when it comes to running your business.

You need to have a good understanding of your cash flow and your costs in order to sustain and maintain your business as well as plan for the future and grow your business.

Generally, your business will also be your primary source of income for your personal and household spending. As such, you need to ensure your personal finances and your business finances are working together (but are not combined together!)

Your business and personal finances should be managed separately, except for where your business pays you a regular wage or salary.

As a business owner, can you answer the following questions:

What are the essential costs of my household?
What are the essential costs of my business?
How much do you need to sell in your business in order to cover your business costs as well as your household costs?
While it’s great to have a bookkeeper and/or accountant for your business, do you have an understanding of the day-to-day money management of your business and how to evaluate its performance?

If you answered “no” or “I don’t know” to any of these questions, Dollars and Sense Solutions can help get you to understand not only your household finances but also your business finances.

We can help you:

Get clear on how much your business is costing you and how much you need to sell to cover your business expenses, from a non-accounting perspective.
Gain clarity on your household expenses so you know how much your business needs to earn to cover its own costs as well as pay you a regular amount for your household expenses.
Find any leaks in your personal and business spending that could be stopping you or your business from growing and thriving and reaching your financial goals.
Understand your business’ financial statements and how they work together to provide you with the information you need to evaluate your business’ performance.
Create a roadmap for your business cashflows and your personal finances that puts you in control of your money and your financial future.