Skip to main content

The implication of finance in business

Image courtesy of Serge Bertasius Photography at FreeDigitalPhotos.net

Hello readers! Finance is an important tool in business, when it is not managed well in business, it can lead to the end of the business. Today, I will be telling you about the implication of finance in business. There are different sources of finance and they all have different implications. Finance gotten from your personal savings is the best.

Finance gotten from friends and family is another good form of raising capital for business. Friends and family usually do not ask for interest, however, I have been informed in my research that some do ask for interest but lower interest if they do ask do not accept the loan. You should not deal with interest because it is bad for you. You have to make your business halal. With friends and family the risk associated with raising money from them is lower this is because if a business challenge occurs, some may let the money go because of the care they have for you. Others might patiently wait for you to bounce back before collecting there monies from you. Close family members and friends should be the ones you ask for loan to execute your business transactions. Make sure you return the money.

Halal means anything lawful Islamically.


Other implications will be discussed in another article. Keep checking my blog regularly. Cheers!

Comments

Popular posts from this blog

Eid Mubarak

Happy Eid ul Fitri

Understanding the buyers behaviour

Hello readers, today I will be writing about buyers behaviour when it comes to purchasing products (goods and services). I hope your week has been good. A buyer is an individual that makes a purchase. That purchase can be influenced by his/her emotions or his/her rational mind.

For your marketing strategy to be successful you have to truly understand the buying behaviour of your customers. Some customers buy goods based on trust and loyalty which falls into the emotional reasons. Thus, you have to build trust between your customers and yourself so they can return back to you. Trust is built when you offer good quality for reasonable prices.

Some products are bought regularly while some products are purchased seasonally. If your products fall into the seasonal category, you should only purchase them to be resold during that season. At times buyers purchase products on behalf of another individual. In that situation, you have to capture the mind of both the buyer and the actual person tha…