EducationQ&A

Why is it important for a business owner to understand basic bookkeeping and accounting?

Bookkeeping and accounting are critical skills in helping owners track the flow of money that keeps their enterprises afloat – especially for start-up ventures where the founder may know everything about his customers’ desires and how to produce a quality custom gift or award but little about financial matters. 

At the very least, therefore, invest in some training for yourself. Many local colleges have a small-business development center (SBDC: www.americassbdc.org) that may offer courses along the lines of “Understanding Finances for the Non-Financial Manager.” Most of the time, these seminars are conducted at night or on the weekend for nominal fees.

Learn more about getting your books up to date

   —Your Personal Business Trainer

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Julia Schroeder

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