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Reasons why financial management is important for business
In an ideal world, any business with a novel idea and a solid value system should be successful, right? Yes, but those are not the only criteria that are mandatory. A thorough financial management policy is equally important. Irrespective of whether your business is part of the service, merchandising or manufacturing industry, and whether it is a sole proprietorship, partnership, a limited liability, a corporation or a cooperative, having control over the flow of money into and outside the business is crucial.
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