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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. 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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. 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Liberia prepares for high-stakes presidential election: Weah vs. Boakai

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Liberia prepares for high-stakes presidential election: Weah vs. Boakai

Liberia prepares for high-stakes presidential election: Weah vs. Boakai

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Liberia is gearing up for a closely watched presidential election as voters head to the polls to decide the country’s leadership for the next term.

The fierce contest has incumbent President George Weah, the former football star, seeking a second term, and his main rival, former Deputy President Joseph Boakai, vying for the top position.

Boakai’s campaign has been centered around the slogan “Rescue,” arguing that Liberia saw a decline during Weah’s initial six years in office. On the other hand, Weah remains confident in his ability to secure victory, citing the stability he has brought to Liberia and the improvements made in the education sector.

This election marks a significant milestone as it’s the first time a generation of young voters, born in the post-civil war era, will cast their ballots. Liberia’s brutal civil war, which ended two decades ago after claiming an estimated 250,000 lives, has left a lasting impact on the nation’s collective memory.

One prominent issue in this election is the call for the establishment of a war crimes court to hold those responsible for the conflict accountable. Many Liberians argue that the absence of such a court has fostered a culture of impunity. Weah has resisted this pressure, focusing on development as his primary goal, while Boakai and other leading candidates have pledged to establish the court.

Approximately 2.4 million registered voters are expected to participate, with polls opening at 08:00 GMT. A total of 19 candidates, including two women, are running against Weah, who succeeded Ellen Johnson Sirleaf, Africa’s first elected female president, in 2018.

In addition to selecting the next president, voters will also cast their ballots for parliamentary representatives. Despite clashes between rival political camps in the final days of the campaign, Liberia’s main parties have pledged to uphold peace during the election, hoping to avoid a repeat of the violence that left three people dead in September.

Weah, who was named FIFA’s World Player of the Year in 1995, transitioned to politics after his football career. He secured his first term in 2017 with 61% of the vote in a run-off election, defeating Boakai, who served as Deputy President under Sirleaf.

Analysts speculate that this election might be Boakai’s final attempt at the presidency. He has been affectionately dubbed “Sleepy Joe” by his opponents, who accuse him of dozing off during public events.

Boakai, in contrast, presents himself as an ordinary, honest man from a humble background and a vocal critic of Weah’s administration. He has pledged to improve infrastructure, invest in agriculture, and boost tourism while also addressing corruption issues.

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