Know your numbers!

“Don’t ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.”

Tilman J. Fertitta

Timeliness of financial statements

“The usefulness of the financial statements of a business entity may be seriously diminished if its publication is delayed too long after the reporting period. For this reason, various national and industry-specific legislation impose specific timelines for the filing of audited financial with tax authorities, industry regulators and the stock exchange.”

Edem Affram, Founder, Synergia Business Solutions

The “informal” nature of many SME business structures is hindering them from growing into global brands.

Philip Oti-Mensah, CEO of Omnibank Ghana (culled from a speech delivered at the International SME Business Network)

SMEs need to brace up, work with proper accountants and try as much as possible to formalise their business.

Philip Oti-Mensah, CEO of Omnibank Ghana (culled from a speech delivered at the International SME Business Network)