consultantsreview logo

Consultants Review Magazine

Financial Health is your Businesses’ Prime Wealth

By Deepshikha Singh, Managing Editor, Consultants Review

Jet Airways’ last flight kissed the sky on April 17, 2019, after which the company was forced to stop its operations just like Kingfisher Airline. Earlier owned by Liquor baron – Vijay Mallya, Kingfisher owes banks, oil companies, aircraft lessors and even its employees a whopping amount of Rs 7,000 crore (Rs 70 billion). Likewise, there are numerous other businesses such Spicejet, Adani Enterprises, ADAG Group and DLF which are weighed down with losses, mounting debts and are either shutdown or are on the verge of breathing their last.

Undoubtedly, running a business means putting money into production and while one might have little money at hand for the initial setup, chances are that there will loans, credit cards and investors involved in the process. However, whether a firm is a bootstrapped venture or you have lenders to back you and starting business often means getting into debt. And by the time your business is up and running, you might have not just invested a huge amount but would also be in huge financial debt. No matter the amount of hard work and effort that is being put into a business, its survival and growth are directly proportional to proper financial management.

As day-to-day financial matters are becoming more complex with income and expenses imbalances, we believe ‘When in Debt, Seek Advice’. Professional finance management consultants provide an empirical, fact-based and independent perspective for financial issues that provides stakeholders with strategic insight and practical recommendations.

‘It is mutual trust, even more than mutual interest that holds human association together’ - H.L. Mencken’s words stand true to its meaning in today’s competitive market. Especially when it comes to managing Finances, these words stand true to its meaning. Trust is one of the key factors in maintaining a successful relationship with any customer. However, this has been compromised drastically over the past few years. While there is inflow and outflow of cash, what the customers mostly lack today is right advisory when it comes to managing finances, investments, portfolios or strategies. Deciding on how to allocate their finances, while maintaining the right balance between debt and equity is an extremely strenuous job for not just organizations/treasuries but also for individuals.

With most people embarking on their entrepreneurial journey without proper financial planning, it’s quite unusual to start something potentially costly as well time-consuming without seeking quality advice and taking precautionary measures beforehand. While there are numerous small business owners who consider taking advice as a costly affair, there is nothing worse than the feeling of being crushed under debt of any kind. And this feeling is eventually multiplies when you’re dealing with business debt, and are facing the fear of losing your business altogether. Hiring an experienced financial consultant can help businesses and individuals in figuring out most suitable ways to remain debt free or reduce the burden of liabilities in an organized way.

Professional finance management consultants provide an empirical, fact-based and independent perspective for financial issues that provides stakeholders with strategic insight and practical recommendations. From organizing income and expenses and then formulating a personalized plan which is based on client’s financial goals, a consultant is a go-to person for all such essentials. As day-to-day financial matters are becoming more complex with income and expenses imbalances, we believe ‘When in Debt, Seek Advice’.

Magazine Current Issue