Knowing your NUMBERS; A real issue affecting Small Businesses in JAMAICA
By: Kmar Henry CEO │ BIZ care Consultation & Accounting Firm Edited by: Anthonio James │ Danielle Lewinson Date: April 05, 2018 It's a rather growing concern for many loan officers and financial entities, that in this time and age we still have many Small Business Owners who are still operating under the old guise; " what I make is what I have left ". If you should ask questions like 'what are your purchases for the month, what are your expenses for the month? What's your amount owed to creditors ? What are the amounts owed to you from/by customers? or even more so, What's your sales or revenue for the month?' You might be surprised to see the level of stuttering that comes from the lips of most of these entrepreneurs or small business owners in Jamaica. Especially if it is a scenario where accessing a loan is extremely pivotal for your business to survive. Whats your True Profit ? Let's say t...