"Understanding financial statements is a major part of helping build a business' success," says Ravi Govender, head of Small Enterprises at Standard Bank. "Financial statements enable business owners and other professionals such as accountants, bankers, and potential investors in a business, to see how a business is performing."
Valuable tools
"Initially, the thought of getting to grips with financial statements may be daunting. However, once they are mastered, business owners are quick to realise just how valuable they are as tools for effective management. Invest the time required, become financial statement literate and reap the benefits," says Govender.
Because of their importance, the topic of financial statements was selected as one of the topics for the series of BizVideos on Standard Bank's BizConnect website. In Standard Bank's continued drive to provide solutions aimed at creating a sustainable SME sector, the BizVideos were designed to provide practical advice to small business owners on how to manage a business effectively.
The videos can be accessed by logging on to www.standardbank.co.za/bizconnect from March to May 2014.
