Four financial tips for women who want to start their own business | ECONOMY

Among the many challenges faced by womenon the way to equal rights, undertake a business is one of those that requires the most effort and perseverance, especially in a scenario after the pandemic of the coronavirus.

In this sense, it is important to take into account certain considerations when starting a business with a view to establishing a solid and sustainable business over time. During the week commemorating International Women’s Entrepreneurship Day, María López, Director of Sustainability at MAPFRE, shares four financial tips for building a business with solid foundations.

WATCH: International Women Entrepreneurs Day: 3 things they need to keep growing today

  1. Learn about finances. Knowledge of the capital management of a company is of great value in quickly reaching the break-even point in the case of companies. In this sense, identifying the main investment instruments, as well as the rates used, allows better decisions to be made.
  2. Invest in tools. There is software designed to optimize time at every stage of running the business. This way, tasks such as taking inventory, recording adherence to delivery dates, and monitoring customer satisfaction can be done efficiently and save time for a better work-life balance.
  3. Find a community. There are other businesswomen out there with the same ambitions and challenges, and getting to know them can generate synergies that streamline day-to-day processes and improve results. Whether it is through a trade show, joint exports or integration to give gifts via social networks, relying on associations with the same objective can be a means of growth.
  4. Protect your investment. Companies are exposed to multiple eventualities such as fires, earthquakes or theft. There are specialized insurances that include coverage for these risks so that in the event of an eventuality they help to mitigate the economic impact that they could generate, which is particularly relevant for companies undergoing consolidation, thus avoiding the possibility of losing this capital for which so much has been worked.

MAPFRE multi-risk insurance for small and medium-sized businesses offers coverage to cover the risks they are exposed to on a daily basis, such as theft, fire or earthquake, among others.



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