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38: Five Financial Mistakes To Stop Making In Your Business
Manage episode 432681028 series 3530481
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Are your business finances in top shape, or are you making any of these five common mistakes?
Today, Sally Preston discusses the critical financial missteps that many business owners usually make. Drawing from her extensive experience in business acquisitions and sales, she shares the top five things you need to stop doing in your business finances right now.
In this episode of Smarten Up! The Tax and Business Podcast, you'll learn:
- Sally’s recent experiences with business sales and acquisitions (00:10)
- Mistake #1: Mixing business and personal finances (01:05)
- Mistake #2: Neglecting basic bookkeeping essentials (04:10)
- Mistake #3: Overlooking the importance of regular financial health checks (07:39)
- Mistake #4: Underestimating tax planning and the value of getting good advice (11:20)
- Mistake #5: Neglecting compliance and regulation (14:22)
From the pitfalls of mixing personal and business finances to the importance of regular financial health checks, Sally provides practical advice to help you steer clear of costly errors and ensure your business thrives.
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