When running a business, it’s vital to make sure that you’re in full control of your finances.

A company can live or die on healthy finances and cashflow. As your business grows, this will become more and more difficult to manage without outside assistance.

Thankfully, there are a lot of different tools and service providers that can help you manage your finances more effectively, keep track of your bookkeeping, and make better financial decisions. This will allow you to build a financial safety net for your business, as well as a healthy cash flow to help it grow even more.

Legal Entity Identifiers

Depending on where your business is based, you may need to register your business in different ways, either to legally trade at all or to access required financial assistance. For example, India is a massive economic powerhouse experiencing massive growth, which makes it a great place to establish a business.

But it’s important to get your business identified and registered as a legal entity before you can access financial services like business loans in India. LEI Register India can help your business to meet RBI and SEBI requirements, as well as providing a free LEI digital certificate to help your business deal with Indian Banks. 

LEI Register India also allows you to connect with Indian business data sources, which is vital for auto-filling applications which can save time and eliminate potential mistakes.

Cloud Accounting Software

As your business develops a more complicated cashflow, it can be increasingly difficult to determine what payments are coming in and out of your business. Cloud accounting software can help you keep track of where your money is coming from and where it’s going. 

Use QuickBooks for an extremely simple and easy-to-use solution that integrates into your business bank account for real-time access to your financial information whenever you need it and whereever you are. You can also collaborate with accountants with up-to-date information and use automated features for regular expenses.

Bookkeepers and Tax Accounting Services

While software can make bookkeeping and accounting much more manageable, it’s not a replacement for dedicated accounting professionals. Pilot is designed for businesses of all sizes that are looking to grow their business and make sound financial decisions. 

They provide basic bookkeeping and accounting services, but they also offer intelligent dashboards to allow you to keep track of your finances more easily, and expert advice from former CFOs and other names in the financial industry.

Cash Flow Management

One thing that can cripple a business is poor cash flow management. Ideally, you don’t want to sit on a lot of money, but you also don’t want all of your assets tied up. Invoice Finance can prevent cash flow issues, especially if your company has to deal with a lot of unpaid invoices. 

Essentially, rather than having to wait for customers and clients to finally pay their invoices in full, you can access usable capital as soon as you need it. This allows you to pay for any expenses as well as continue to invest in your business right away.

Financial Advisors

Financial mistakes can cripple a business, especially if you’re just starting out or you run a small business. If your personal finances are linked to your business, this can also result in even more severe financial consequences. 

EP Wealth Advisors include a team of experts who can help you understand the difference between your personal and business financial plans, as well as create a synergistic plan that allows you to reach your professional goals and push your business to the next level. You can cut unnecessary expenses and make wise investment decisions in your company to allow it to grow.

Specialist Business Current Accounts

Most people have a current account for personal use, but you should also open a seperate account for your business. This makes it considerably easier to separate personal funds from business funds, and bankers like Starling Bank offer digital business accounts for free. 

With Starling bank, you can access an award-winning bank that has different accounts according to your needs, including sole trader-specific accounts. You can also use multi-currency accounts for international businesses.

Business Loan Providers

One of the most effective ways to quickly grow your business is with a business loan. A loan provider like ondeck is the ideal option if you want to develop your company by buying equipment or quickly tackling business expenses. With ondeck, you can also get your funds incredibly quickly, with a rapid application process and a release of funds in as little as 24 hours. Ondeck is especially helpful for smaller businesses.

Business Insurance

Business insurance is essentially a safety net for your company so that, if something goes wrong, you’re able to recover. James Hallam is a fantastic option, especially for international businesses. They have offices in multiple countries and, rather than taking a one-size-fits-all approach, James Hallam understands the local market requirements of the countries they cover. This means that you can get a service you can trust when you need it the most.

Payment Processing Solutions

Payment processing needs to be quick, easy, and secure. Rapidcents offers all of this, as well as an integrated international payment processing system that allows customers to pay you in many different currencies. This means that they can pay you easily, so you have quicker access to your funds and can use them to grow your business.

Investment Management

As your company generates more profit, you can put these funds to good use by investing in other markets, as well as your own business. An investment and asset management service like generationim that specializes in well-researched and sustainable investments. As well as helping your company make better use of its money, generationim also helps the environment. 

It’s important to make sure that your company follows its brand and values as much as possible, and aligning with a sustainably focused investment strategy can be a great way to prove to your customers and shareholders that you put your money where your mouth is.

Frequently Asked Questions

Why do I need a separate bank account for my small business?

Keeping your personal and business money in different accounts makes it much easier to track your true profits and prepare for tax season. It also protects your personal assets if your company ever faces legal trouble or debt. Using a dedicated business account helps you build a professional reputation with vendors and banks.

What is a Legal Entity Identifier and is it required for my company?

A Legal Entity Identifier (LEI) is a unique code used to identify a company during financial transactions, especially in international markets. While not every small shop needs one, countries like India require them for large business loans and specific banking services. Getting this certificate early can prevent delays when you apply for funding or trade globally.

Can accounting software fully replace a professional human accountant?

Software helps you track daily expenses and income, but it cannot provide the strategic planning advice that a human expert offers. Skilled accountants understand complex tax laws and can find ways to save you money that an automated program might miss. Think of software as a tool for organization and an accountant as a partner for growth.

How does invoice finance help a business with slow-paying clients?

Invoice finance allows you to get a cash advance on money that customers already owe you but have not paid yet. Instead of waiting weeks for a check to arrive, you can pay your own bills and buy supplies right away to keep the business moving. This is a smart way to maintain a healthy flow of cash without taking on traditional long-term debt.

What is the most important step to take when cash flow is tight?

The most actionable step is to review your current spending and cut any small, recurring costs that do not help you make more money. You should also check your unpaid invoices and follow up with customers to ensure payments are arriving on time. Using a tool like a financial dashboard can help you spot these problems before they become serious.

Is taking out a business loan a sign that my company is failing?

Many people believe loans are only for struggling businesses, but most successful companies use loans to fund faster growth and buy equipment. A loan is a strategic tool that provides the capital you need to reach your goals sooner than you could with savings alone. As long as you have a plan to repay the funds, borrowing is a sign of smart expansion.

How does business insurance protect me if I work with international clients?

Standard insurance might not cover you when you deal with legal rules or accidents in other countries. Specialist insurance providers understand local laws and can create a policy that covers your specific risks in different global regions. This safety net ensures that one mistake overseas does not bankrupt your entire operation.

What are sustainable investments and how do they benefit my company?

Sustainable investments focus on putting your extra profits into companies or projects that help the environment or society. Beyond doing good, this strategy can improve your brand image and attract customers who value ethical business practices. It shows your shareholders that you are planning for a long-term future rather than just quick wins.

Why should I use a digital payment processor instead of just taking checks?

Digital processors allow you to accept credit cards and international currencies safely, which makes it easier for customers to buy from you. This speed means that money enters your bank account much faster than waiting for a check to clear the mail. Modern systems also help prevent fraud by using secure technology to verify every transaction.

What should I do after setting up basic financial tools for my business?

Once your tools are in place, your next step should be to schedule a monthly financial review to analyze the data they provide. Look at which services are helping you save time and where your highest costs are coming from each month. This habit allows you to make better choices and adjust your strategy as your business grows.