Financial Planning for Small and Medium Enterprises (SMEs)
Financial Planning for Small and Medium Enterprises (SMEs) are very important to run a business that did not experience loss. Between business and finance with private finance should be different.
Main constraints faced by SMEs is the capital class. But many financial institutions, particularly banks still look to the eyes. In addition to the capital, another problem faced by SME sector is the Financial Management / Financial Planning.
SME Financial planning is the discipline for managing the business in the Personal Finance / Financial Company. In addition must be separated between the financial needs for the day-to-day financial business, even if the business is run in the house.
Financial Planning for Small Entrepreneurs Secondary must include:
1. Cash Flow Positive
Talking about the business then in this case we will discuss about the income earned, whether business or menguntungan this is harmful. If the sale less the cost of production and costs the company is positive then the company’s fate, and if the negative results of the loss. Because of financial planning company is to be considered should therefore Cash Flow positif. How if the Cash Flow company is negative / loss? But as business owners we have to reduce your cost of production / cost that is smaller than other income.
2. Emergency Fund / Emergency Fund
Emergency fund is important because the term of this fund serves as a reserve fund for the company if the company does not get a time order at all, more than that can also be used if employees have a sick or an accident of employment.
3. Income Protection (Life Insurance)
Is the way taken in relation to protecting the income they earn, and prepared in ways that anticipate the risk of losing their source of income because of the death or injury or illness is the businessman who became the main source of income in the family.
4.Protection of Places of Business
This is also very important because if a business already in place ansurasi all the risks that ensue as a fire or other matters that threaten the place of business then there will be a change from the insurance company.
5.Pension Fund
Preparing for this fund is very important for employees because this is required for the future, the period of uncertainty where the physical and economic uncertainty in the future, the high cost of living and the expectation of life is longer than at this time.
6. Business Diversification
When we have been implementing over the stages of the last things we need to think about is the business expansion / addition of financial planning so usaha.Dengan Small is strong, so that when going against the business risk is not feared.
Phases so that needs to be done in the financial planning of SMEs. Implementation is dependent individual discipline. Make financial planning more small risk of the plan is not at all. Planing Or Nothing ….!