When a business starts up my advice is always work out what you think you will need and then multiply that by three. I know this seems a bit extreme but experience has shown that this is usually the case.

Although you may have a fantastic product and your business may be very profitable, the way cash flows through your business can be a matter of survival or failure.

So it is imperative you review who will you manage money, monitor your cashflow and profitability, control expenditure, ensure payment for goods and services.

You should also make sure you are quite clear about costing expenses, overheads and your products or services.

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