When looking at getting business finance one aspect of your business you must be comfortable with is your financial performance. When discuss your finance request knowing your numbers and key aspects of your financial performance will set you apart from the majority of businesses.
Being able to read (and understand!) a Balance Sheet and a Profit and Loss is one aspect of running a successful business that eludes many business owners. A good grasp of your numbers will not only get you off to a flying start with the bank but it can also give you a better understanding of your business and areas of potential improvement.
In this clip from a live seminar BLS’s Rob Warlow talks about the importance of knowing your numbers when applying for a business loan or any form of business finance.