Enfants du Mekong Entrepreneurs in Cebu, Philippines, ran another session for young entrepreneurs using a+b=3’s training material early February. This time, they focused on bookkeeping and budgeting. Taking our simple example of chicken business, participants went through basic concepts such calculating a profit, how to track cash ins and outs and how to plan ahead.
Another very successful topic was how to manage family relationship in a business – whether family members are customers, employees, investors or suppliers.
|Budgeting a future business with the help of a mentor
|Cash in – cash out