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Business boom at Kyiv gun shops as Ukrainians rush to buy arms

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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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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. 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Home News International News

Business boom at Kyiv gun shops as Ukrainians rush to buy arms

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Business boom at Kyiv gun shops as Ukrainians rush to buy arms
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Ukrainians are buying guns, ammunition and sniper rifles ahead of a possible Russian invasion, with long queues inside weapons stores on Wednesday.

With a state of emergency set to be unveiled, the country’s parliament approved a draft law that gives Ukrainians permission to carry firearms. Previously they were forbidden from leaving home with lethal weapons.

Most Ukrainians – boys and girls – learn how to shoot at school. About 400,000 people are estimated to have combat experience, following Vladimir Putin’s 2014 annexation of Crimea and the Moscow-supported armed uprising in the east.

But the threat in recent days of a possible attack on Kyiv has caused an unprecedented rush to buy arms. Gun shops have sold out of some weapons, such as AR-10 and AR-15 assault rifles, with business now exceptionally busy.

“Of course I’m worried about the situation,” Dariia Olexandrivna said, speaking in the basement Praporshyk gun store, in central Kyiv’s Pushkin street. “I’m hoping for the best but preparing for everything.”

Russian armoured vehicles in Rostov region.

Olexandrivna said she and her husband began taking shooting lessons six months ago, when tensions with Moscow grew. They owned two handguns. She had come to buy 400 rubber bullets. “I saw Putin’s speech on Monday. I think he’s stupid enough to do it. He hates Ukrainian people,” she said.

Two weeks ago she packed the car with clothes, medicines, food, water and extra shoes. “My two children speak only Ukrainian. They don’t speak any Russian. If it’s no longer safe for us we will leave,” she said. Where would she go? “The west of the country, somewhere,” she replied.

Over the past 24 hours the Ukrainian government has taken enhanced security measures, having previously downplayed the likelihood of conflict. Restrictions on movement, mass gatherings, political meetings, and concerts and sports matches, are being proposed.

Guns for sale at a Kyiv shop.
Guns for sale at a Kyiv shop. Photograph: Chris McGrath/Getty Images

In a speech on Tuesday, the president, Volodymyr Zelenskiy, announced the mobilisation of reserves – beginning with 36,000 people, with veterans recalled to active duty. He also told Ukrainian citizens to leave Russia.Advertisementhttps://5402bb2e4c5e42faa909f302bc64539c.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

Dmytro Skatrovsky said he had not been notified by text but had turned up anyway outside the Svyatoshynskyi recruitment centre, in western Kyiv. He spent three years in the army and took part in the 2014 battle to evict separatists from the port city of Mariupol, he said.

“I’ve bought two sniper complexes with good optics,” he added. “I’ve also ordered a drone on Amazon. It hasn’t turned up yet.” Skatrovsky said a group of friends had chipped in to get the rifles – at a cost of $10,000 (£7,370). US contacts had paid $2,300 for the drone, he said.

The Ukrainian military gave veterans guns, but the process was slow and bureaucratic, he explained. “We can win against Russia. This isn’t 2014,” he said. “We have heavy weapons, thanks to US and UK. If they come we will shoot at them from every window.”

Territorial defence courses, where ordinary citizens can learn to shoot are heavily oversubscribed. Buying a gun is legal so long as it more than 80cm in length, with weapons freely available.

Police confirm Ukrainians are buying large amounts of ammunition. In February alone 10,000 firearms were registered. Overall, the country has more than 700,000 legal gun owners, the Kyiv defence reporter Illia Ponomarenko tweeted on Wednesday.

At the Stvol gun store around a dozen men were waiting patiently in front of a glass counter. The shop sells rifles, pistols, knives, and camping gear, as well as cumbersome safes and a medium-sized brass model of a wild boar. The owner said he had been told not to speak.Advertisement

One customer, Zhenya Nedashkvskyi, said he had dropped in to buy a pump action shotgun. “It won’t stop the Russians,” he admitted. “I want to protect my house from looters. The situation has become hot. It could get worse.”

Nedashkvskyi said he would like to protect his elderly parents who live in the city of Smila in the Cherkasy region, about 200km (124 miles) south of the capital. He said he had his eye on a Turkish-made Veryon model, costing 17,520 Ukrainian hryvnia – about $600. “I’ll get that or similar,” he said.

Ukraine’s former defence minister Andriy Zagorodnyuk said guns had long been part of national culture. “People are not storming petrol stations or stores but they are buying weapons to protect themselves. That’s a good sign.”

Ukrainians attend an open military training session in Kyiv.
Ukrainians attend an open military training session in Kyiv. Photograph: Sergei Chuzavkov/Sopa Images/Rex/Shutterstock

He added: It shows that the country is not scared. The nation is ready to fight, if it needs to.”

A few shoppers, however, said they were not worried about the situation or the prospect of a looming Kremlin offensive. Alex – a 23-year-old casino manager, who declined to give his second name – said he was buying a sniper file for his father, a keen hunter.

“I’m still calm,” he said. He added: “Guns are popular in Ukraine. We all get classes at school on how to shoot. My father has a big collection of weapons already. The rifle is a gift for him.”

Asked what would happen if Russian troops did turn up, he said: “I think our people will shoot back.”

Source: www.theguardian.com

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