The Big “F” WORD ! How To Be Prepared for Financial Uncertainity | Future Females Durban
Start-ups are filled with exciting new discoveries, but they can also be filled with loads of questions and uncertainty. A huge part of it all is the big “F” word we tend to avoid; Finances.
Managing personal finances can be tricky, let alone jumping into a venture with a business partner and managing company finances without things turning ugly.
However, having those tough conversations about money upfront can save you from the world of struggle later. Finding the right tact and timing is key to a successful, productive exchange.
The COVID-19 Pandemic has seen and will probably continue to see numerous businesses closing their doors for good. Although this can be due to various factors, it's an important time to ensure all financials are in order and all the hard conversations surrounding the topic are resolved to protect you and your partner from the resulting financial implications.
In this session, we will address;
- Financial questions to ask a potential business partner
-Conversations about how much each partner will financially contribute to the business.
-Division of profits between partners. Also, implications when one partner decides to leave the partnership.
-Financial questions to ask business partners when looking into closing down a business due to situations such as COVID.
-How to prep your company/ partnership financially for uncertain times.
This month we are really excited to have Mandisa Ndlovu is a qualified Chartered Accountant and is currently the Segment Head of Business Banking at FNB for the KZN Coastal Region.
She has 13 years working experience in the investment and business banking industries and has been fortunate to work in the banking sectors both nationally and internationally.
Her passion is assisting entrepreneurs grow their businesses (particularly women) and drives this by championing the Women in Business focus at FNB in KZN.
Future Females Durban sponsored by FNB. Thank you to FNB for your ongoing support to help increase the number and success of female entrepreneurs. For more information visit https://fnb.co.za
We look forward to seeing you online!
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