Q:

Why is finance important to a business?

A:

Finance helps businesses achieve their goals by providing the funding they need to achieve them. Without funding, businesses cannot be successful.

Money helps businesses hire staff, produce product and rent facilities for office space. Most companies will seek financial support for an investor or equity partner. Without a financial backing, a business cannot exist.

It's important that leadership within an organization has a good understanding of finance. This will ensure that the business can effectively manage the money that they have to ensure that they hit budgetary targets and goals. In doing so, they have a better chance of succeeding at their mission and goals as an organization.

Sources:

  1. investopedia.com

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