ISSN2456-3315
Impact Factor10.57
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ESTD2016
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Paper Title
FINANCIAL MANAGEMENT`S FUNCTION IN STARTUPS SUCCESS ELEMENTS AND DIFFICULTIES
Authors
ARVINDH.N , VIJAYACHANDER.V.S
Keywords
Startup Financial Management; Special Accounting Difficulties; Volatility of Cash Flow; Historical Data Absence
Abstract
An important factor in determining whether companies succeed or fail is financial management. This essay examines the importance of sound financial management for startups, highlighting critical components of success and common challenges encountered along the way. The dynamic and uncertain circumstances in which startups operate highlight the significance of making wise financial decisions. Effective resource allocation, risk assessment, cash flow management, and cautious budgeting are all components of success.
However, startups have a number of difficulties, including difficulty projecting revenues, restricted access to finance, and a lack of financial competence. Proactive steps including securing outside finance, utilising financial technology, and promoting financial literacy among stakeholders are needed to address these issues. Through a comprehensive comprehension and skillful navigation of these financial management dynamics, startups can augment their resilience and maximise their prospects of enduring expansion and triumph in fiercely competitive markets.
The study also emphasised the significance of financial literacy and the necessity of improving young entrepreneurs' access to financial resources and education. Numerous individuals conveyed their need for mentorship and advice regarding financial planning, budgeting, and investment tactics. In order to overcome these issues, the research paper offers suggestions, one of which is to promote alternative funding sources including crowd sourcing websites, angel investors, and venture capital.
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How To Cite
"FINANCIAL MANAGEMENT`S FUNCTION IN STARTUPS SUCCESS ELEMENTS AND DIFFICULTIES", IJRTI - International Journal for Research Trends and Innovation (www.IJRTI.org), ISSN:2456-3315, Vol.9, Issue 6, page no.262 - 267, June-2024, Available :https://ijrti.org/papers/IJRTI2406036.pdf
Issue
Volume 9 Issue 6,
June-2024
Pages : 262 - 267
Other Publication Details
Paper Reg. ID: IJRTI_189989
Published Paper Id: IJRTI2406036
Downloads: 205,624
Research Area: Management
Country: Namakkal, Tamil Nadu, India
Published Paper PDF: https://ijrti.org/papers/IJRTI2406036
Published Paper URL: https://ijrti.org/viewpaperforall?paper=IJRTI2406036
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ISSN: 2456-3315 | IMPACT FACTOR: 10.57 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 10.57 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
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