Government releases free finance management resource for SMEs

money_treeTNThe Federal Government has released a new free online resource developed in conjunction with business and finance experts that offers SME business owners practical information on managing and seeking finance.

The Federal Government has released a new free online resource developed in conjunction with business and finance experts that offers SME business owners practical information on managing and seeking finance.

The new Business Finances topic, available via the business.gov.au website, was designed to help SME business owners build their financial knowledge. The new resource provides information on a range of common finance issues, including setting up a bookkeeping system, preparing financial reports and applying for finance.

Minister for Small Business Brendan O’Connor said the resource is about giving business owners the skills to take a leading role in managing their finances.

“Many small business owners are terrific at their trade or profession but don’t have the same skills when it comes to running a business,” O’Connor explained. “Managing business finances can be a complex and overwhelming task for any business owner.

“This new resource will give our small business owners the tools they need to deal with experts such as banks, lenders and accountants with confidence. They’ll get essential business finance information in an easy-to-read, online format, with a handy glossary of complex financial terminology.

“While professional help is strongly encouraged, it’s essential that business owners have a good understanding of their financial affairs because ultimately it’s their own business that’s at stake.”

The Business Finances topic complements other free tools available to SME business owners via business.gov.au, including a new suite of business planning iPad apps and search tools that make it easier to find government support.

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