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Financing and structuring a business represent some of the greatest challenges entrepreneurs face when starting and growing their ventures.
That observation was made by experienced accountant and Managing Director of Dowell’s Advisory Services Incorporated, Oral Dowell.
Speaking during a hands-on accounting workshop held in the NSR Conference Room at Haggatt Hall Monday, Mr Dowell emphasised that securing adequate financing and establishing an effective business structure are critical, yet complex, tasks.
He said financing a business involves identifying reliable sources of capital, whether through loans, investments or personal funds.
He added that managing cash flow to sustain operations and growth requires careful planning to balance debt and equity.
Mr Dowell advised entrepreneurs to treat their businesses like a baby, nurturing them through every stage of development.
He said it is equally important to structure a business appropriately, including choosing the right legal form, such as a sole proprietorship, partnership, corporation or limited liability company.
