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Consequences of Poor Record-Keeping for SMEs

Every business must master the act of proper record keeping to increase its chances of success.

Record keeping is an essential business activity and one of the earliest accounting tasks of a business owner.

Proper record-keeping is essential for a business to access external capital, make good decisions, and avoid unnecessary costs.

Unfortunately, the majority of small business owners still do not keep proper records today.

Here are 3 ways small business owners suffer from poor record-keeping:

Apply for GroFin’s Small & Medium Scale Enterprises Loans

Since its inception in 2004, GroFin has been on a mission to serve the underserved entrepreneurs in the small and growing business sector with risk capital and business support.Thereby, helping them to realise their full business potential and deliver quantifiable social and economic development impact.

In The News: CBN Publishes Regulatory Guidelines on The eNaira

The Central Bank of Nigeria, under the Central Bank of Nigeria (CBN) Act 2007 and the Banks and Other Financial Institutions Act (BOFIA) 2020, is empowered to issue legal tender currency, ensure financial system stability and promote the development of electronic payments system.The Bank, in furtherance of its mandate, hereby issues thefollowing Guidelines for the operation of the eNaira.

Contracts And Agreements Made Easy Vol. 1

Get everything you need to prepare contracts and agreements for your business without having to scramble for a lawyer each time you need a contract or agreement to complete a transaction.This book provides a comprehensive range of sample contracts and agreements that you can adapt to fit your purpose.

Grab a copy of the volume for only N4,999 today!!!

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