What Is the Role of Finance in Business?

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What Is the Role of Finance in Business?

A company or any kind of business organization is basically the manifestation of a concept based on a product or service that is believed to resolve a particular absence in the marketplace or community in which it is launched. It requires a well-thought-out marketing plan that facilitates the knowledge of said product or service reaching the preferred target audience. Even if both of the above factors are planned and implemented effectively, there is yet another crucial aspect that is not prioritized and oftentimes not even considered—a sound comprehensive financial plan.
Role of Finance in Startups
The financial component is the most crucial in a business plan, which provides clarity with regard to the goals of a startup and how those goals would be met in a systematic fashion. During the critical growth stages, when financial backing is required from angel investors or banks, a clear financial plan from the entrepreneur is one of the main factors that influence investors into making a favorable decision. This is why the role of finance in startups is crucial....

Source: What Is the Role of Finance in Business?

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