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Running a small business is demanding. Each day presents challenges that can affect your cash flow, your customers, and your ability to grow. Amid these demands, it is easy to lose sight of long-term financial priorities. However, businesses that last are not only those with good products or strong customer service. They are often the ones with better financial habits. This article outlines seven essential points that will help SMEs manage their finances more effectively, reduce risk, and plan for growth. 1. Start with a Clear Financial Plan A good financial plan gives direction to your business. It helps you set targets, allocate resources, and make informed decisions. Start by defining your financial goals. These should be SMART - specific, measurable, actionable, realistic, and tied to timelines. For example, you should determine how much revenue you need each month, what level of production or service delivery is required to meet that target, and how you intend to achieve it. Once your targets are clear, you will need a working budget. A good budget helps you monitor income and expenses, manage cash flow, and ensure that your business remains on track. It also provides a basis for deciding what to prioritise and what to postpone. At its best, your financial plan should help you answer key operational questions such as what resources are required to operate or grow, where those resources will come from, what they will cost, and whether your business is in a position to take them on. Planning in this way reduces uncertainty and allows you to run your business with greater clarity and confidence. 2. Maintain Accurate Financial Records Accurate financial records are essential for any business. Whether you are managing day-to-day operations, planning for future growth, or applying for funding, clear and reliable financial information allows you to make sound decisions. Many small businesses struggle in this area due to time constraints, limited expertise, or a lack of systems. However, proper record-keeping should never be overlooked. It supports internal decision-making, strengthens external credibility, and improves your ability to respond to opportunities or risks. Business owners can start by gaining basic knowledge of accounting principles and tools. Training employees in simple record-keeping practices also helps to build internal capacity. In some cases, it may be worthwhile to engage professionals who can help you put the right systems in place and prepare essential reports at a cost that makes sense for your business. 3. Choose a Banking Partner Aligned with Your Goals The right banking relationship can make a real difference to your business. A bank like Absa Bank is more than a place to keep your funds. It is a partner that can support your operations, guide your financial planning, and help you take advantage of growth opportunities. Begin by understanding your business needs. These might include working capital support, payments and collections services, or trade finance. Once your needs are clear, assess whether your bank offers the right mix of services, accessibility, and expertise. Your banking partner should make it easier to run your business, not harder. They should share your ambition to grow, be responsive to your concerns, and provide solutions that are tailored to the stage your business is in. A strong banking relationship will give you confidence and peace of mind as you build your enterprise. 4. Deploy Effective Payment Solutions Revenue is the foundation of every business and the way you go about collecting it is key. In today’s economy, customers expect fast, simple, and secure payment options. If your business only accepts cash, you may be turning away potential sales without realising it. Providing customers with flexible payment options is no longer a luxury. It is a necessity for growth and long-term relevance in a digital economy. Offer customers alternatives such as instant bank transfers, mobile money, card payments through point-of-sale devices, or more innovative solutions like Absa Mobi Tap to improve your customer experience and increase your reach. These methods reduce delays, enhance transaction security, and demonstrate professionalism. 5. Meet Statutory Obligations Promptly Every business has legal and regulatory responsibilities. These include filing and paying taxes, submitting Social Security and National Insurance Trust contributions, and meeting other sector-specific requirements. Complying with these obligations on time helps you avoid penalties and disruptions. It also builds your business’s reputation and improves your standing with financial institutions and regulators. To stay compliant, you should adopt a legal structure that suits your business model and goals. You may also wish to seek legal or tax advice at key points in your journey. Planning ahead for obligations such as annual tax payments or quarterly filings ensures that you are not caught off guard. Meeting your statutory responsibilities consistently is a mark of a well-run business. 6. Manage Your Risks Running any business involves risk. These risks may include delayed payments from customers, unexpected costs, economic downturns, or even natural disasters. For small businesses operating with limited resources, such events can be difficult to absorb. This is why risk management must be part of your financial routine. Start by identifying the main risks that could affect your business. Put in place basic measures to protect your operations. This could mean setting aside emergency reserves, purchasing insurance, or diversifying your income streams. Being proactive about risk does not eliminate uncertainty, but it helps you stay in control when challenges arise. It also signals to lenders, partners, and customers that your business is prepared and resilient. 7. Separate Business and Personal Finances It may be tempting to treat your business account as your personal wallet, especially in the early stages. However, failing to separate your business and personal finances can lead to confusion, tax problems, and credibility issues. As a business owner, you should pay yourself a fixed salary. Avoid withdrawing funds at random or covering personal expenses with business income. If you invest personal funds in the business, document it properly as a loan or equity contribution. Keeping your finances separate helps you maintain clear records, assess business performance accurately, and present your enterprise in a more professional light to partners, banks, and regulators. At Absa Bank, we believe that strong financial habits form the backbone of every successful enterprise. Our commitment is to walk with our clients and customers at each stage of their journey, providing guidance, tools, and solutions that help SMEs grow sustainably and with purpose.

Financial Habits Every SME Must Adopt: The 7-Point Check List

September 25, 2025
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Home Sports International Sports

World Cup playoff draw: Cristiano Ronaldo’s Portugal drawn with Italy

in International Sports
Ronaldo passes 100 goals for Portugal
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Either European champions Italy or Cristiano Ronaldo’s Portugal will miss out on the 2022 World Cup after being drawn in the same playoff path on Friday.

The draw means either Ronaldo and the 2016 European champions or four-time World Cup winners Italy will fail to make the tournament next year.

Italy finished as runners-up to Switzerland in the group stage of qualifying, while Portugal were pipped to the top spot in their group after a home defeat to Serbia, meaning both teams have to go through the new playoff system if they are to be at the finals in Qatar in a year.

Portugal will be at home to Turkey in the semifinals, while Italy will host North Macedonia. The winners of those two semifinals will meet for one place at the World Cup. Portugal or Turkey will be at home in the final.

Speaking after the draw, Portugal coach Fernando Santos said: “I have complete confidence that we will be at the World Cup in Qatar. It’s not worth talking about Italy. We have to focus, first of all, on beating Turkey.

“This is the most important game for us in order to be in the [playoff] final and win that, which is our main objective. Regarding the draw, it is what it is, there’s no point in discussing it further.

“There were positive things, we will be playing at home and will have the opportunity to play in front of our fans if we reach the final.”

Italy manager Roberto Mancini told RAI2: “It hasn’t been a great draw, it could have gone better. We will have to beat North Macedonia and Portugal will have to beat Turkey.

“These are one-off games and there are always adversities. Just as we would have liked to have avoided Portugal, I think [Portugal] would have gladly avoided Italy. Will we get to the World Cup? We are always confident and positive; the most important thing will be to have all the players available.”

Wales and Scotland were also drawn together, meaning only one of those two U.K. nations will be in Qatar. Wales face Austria and Scotland take on Ukraine in the semifinals. The remaining path sees Russia taking on Poland and Sweden playing Czech Republic.

“We’ve given ourselves a great opportunity,” Wales manager Robert Page said in reaction to the draw. “We’ve worked ever so hard to finish second and get that home draw. We’ve got everything to play for.”

Following the draw, Scotland boss Steve Clarke told the BBC: “Ukraine is up there with the toughest [draw] and then from that we know Wales have done really well recently. We know the Austrians well.

“We have shown over the course of the playoffs for Euro 2020 that we can handle the tension for semifinal and final games, and hopefully we can prove that again in March.”

Twelve teams will take part in the playoffs, drawn into three paths of four teams with two semifinals and a final in each. The winners of the three finals will take the last European places at the World Cup.

The playoffs are one-legged matches, with seeded teams at home in the semis and the hosts of the finals determined by a draw.

World Cup 2022 takes place in Qatar from Nov. 21 to Dec. 18.

PATH A

Semifinals
Scotland vs. Ukraine
Wales vs. Austria

Final
The winners of Wales vs. Austria will be at home in the final

PATH B

Semifinals
Russia vs. Poland
Sweden vs. Czech Republic

Final
The winners of Russia vs. Poland will be at home in the final

PATH C

Semifinals
Italy vs. North Macedonia
Portugal vs. Turkey

Final
The winners of Portugal vs. Turkey will be at home in the final

The semifinals will be played on Thursday, March 24, with the finals on Tuesday, March 29.

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