*Contributed by Jessica Watson.
Establishing and managing a business is not an easy task. One has to manage lots of things to run a business. One should also be aware of factors which play a decisive role in success. Financial management is one of the most common, necessary and important factors for a business. This involves lots of risks which can affect business performance and its financial growth. So, one need to manage this carefully as it’s crucial to manage the financial area of the business.