Small business needs to establish its financial information to monitor its progress. 

Small business needs to establish its financial information to monitor its progress.

Small business needs to establish its financial information to monitor its progress. It
enables a business owner to know whether it is making a profit or a loss. A small business will
need to understand several financial statements. The first financial that is crucial for every small
business is the cash flow. They enable a business holder to get the real amount of money that he
has generated and spend within a particular period (López et al., 2012). Cash flow is essential as
it helps the business holder to know the areas which need an improvement to maximize the profit

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