Mbura Victor

 Funding any business idea majorly depends on how strong,innovative and relevant the business plan is. A business model Canvas is a blueprint that demonstrate how a business will develop itself. It objectively indicates how a business creates value for itself when delivering products or services to customers. Purpose of a business model Canvas. It is done both for internal and external purposes. 1.The external purpose is to rise enough capital for the business. 2.The internal purpose are: Defines the vision for the company Establishes the mission of the company Describes how the strategy will be implemented Provides a plan for the development of the business  Helps the entrepreneur to be realistic and put their theories to the test There are different ways which can be included in a business model Canvas of any entrepreneur. 1)key partners  These are the people you partner with for your business to be successful .some of the partners an entrepreneur can partner with are: ...

 Record keeping is vital in any firm. Making good judgements when one has complete data,facts and knowledge is not leadership it's bookkeeping. Book keeping therefore is the recording on day to day basis of the financial transactions and information pertaining to a business. It concerns with ensuring that records of financial transactions are accurate UpTo date and comprehensive.    Benefits of record keeping Prepare your tax returns Prepare financial statements Monitoring progress of your business Identify sources of your income Keeping track of your basis in property   Importance of record keeping Taxation Legal requirements Fixing selling price of the product Net results of the business operations Accuracy of accounts Permanent and reliable records   Books involved in record keeping are Stock ledger inventory Creditors who you owe Sales revenue Journal Payments -Expenses There are some principles which are to be considered when keeping records such as  C...