You have a business and you hail from a family that has been selling and buying products since the independence of India in 1947. Or you could be one of those people who didn’t like taking orders from someone and you headed out to find your calling as an entrepreneur. Well, you could also be someone who took up business because anything else didn’t make sense. Or maybe you were just curious how the life of an entrepreneur was and you decided to step into the shoes of one. You are of course the best judge of it all. Indeed, you could be neither of the above but know someone who is. Irrespective of that, this post is one of the many that will follow which will give you an insight into how businesses operate, what to keep in mind when taking some crucial choices, what financial decisions could possibly be better for you. Always keep in mind though, the facts in this blog are corroborated by research and the opinions expressed are of people just like you. When one speaks of a business, for the uninitiated, it creates a mental picture of a caffeine-overdosed person running from pillar to post to get deadlines together while trying to stand apart from the competition. Then there are stacks of files which would be gazed at through horn-rimmed glasses. There’s a flipside as well. You could picture bubbling Jacuzzis and chilled champagne nearby, presidential suites and chartered flights. It can’t be helped. Modern day and old movies have served their roles well in presenting the life of a businessman in a very dramatic manner.
Though neither of the extremes actually occur for many, the reality lies somewhere in between. Businessmen enjoy a slightly better life when it comes to enjoying the finesse of life and are overworked a bit more than the normal salaried person who earns just as much. While a salaried person would just have to refer to his salary slip and Form 16 to fill up his tax declaration properly, a businessman might have to resort to the help of a financial advisor in order to prepare his financial statements.
The financial jargon that a common businessman has to deal with on a daily basis might be much more than what a salaried person faces. Additionally, while a salaried person just needs to take care of his salary, a businessman would have to worry about the salaries of others and would also need to take into account the profitability of his business. While dealing with household finances itself is a pain for most of us, business finance is a completely different beast to tackle. Join us on our journey where we explore the facets of the business world, make you aware of the changing trends and ask you what’s in style in your business segment. The Financial Falooda for businesses thus begins its journey.