Budgeting helps businesses allocate resources efficiently and avoid financial shortfalls.
Risk assessment helps identify potential financial threats and develop strategies to minimize losses.
Maintaining an emergency fund allows businesses to manage unexpected financial challenges effectively.
Net profit margin measures how much profit a company makes after accounting for expenses.
Diversifying revenue streams reduces dependence on a single income source, lowering financial risk.
Effective financial management ensures profitability, sustainability, and strategic resource allocation.
