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Business EconomyPosted at: Aug 3 2022 7:59PM


95 pc of businesses fail because of mismanagement of finances: Dr Anil Lamba

Hyderabad, Aug 3 (UNI) Dr Anil Lamba, Director-Lamcon, international corporate trainer and financial literacy activist has said that 95 per cent of businesses fail because of mismanagement of finances.
Speaking at a session on “Romancing The Balance Sheet”, organised by FICCI Ladies Organisation (FLO) at a private hotel here on Wednesday Dr Anil spoke about the rules of Good Financial Management which will keep us secure.
According to some surveys, 95 per cent sof American companies failed due to financial mismanagement. Nine out of ten companies shut their business due to financial mismanagement, he said.
The real financial people call themselves non-financial. And this flawed perception is responsible for almost 95 per cent of businesses failing worldwide.
He gave two golden rules to follow for sure shit success. The first golden rule is to invest in assets which must generate a return which is at least equal to the cost of capital. The second rule is that assets must bring a cash flow before the liabilities demand an outflow.
The second session was “Let's Talk Money” by Ms Monika Halan, a Celebrated Author and Adjunct Professor, at the National Institute of Securities Market (NISM). When women can drive a car, run a company, fly an aircraft, and join a battlefield, why can’t they manage their finances? Why do they give control of their finances to their spouses, she asked.
Men are happy to take financial control of the monies being earned by us. Common ladies take control of the money you earn, she said.
Speaking further she said whoever controls Money wields power. Why don't women take control? It is not rocket science, she said.
She explained the money map or Dhan Chakra. Turn your savings into investments through debt, equity, and real estate, she said.
On building an emergency fund, she said a maximum of two years of monthly spending or a minimum of 6 months of monthly spending must be your emergency fund , she said.
Invest in bank deposits, government securities, liquid mutual funds and short-term debt mutual funds. The spend, save and borrow should be in the ratios of 50: 20:30, she said.
Life insurance is only required for those who gave dependents. Never go for bundle insurance and investment. It is just a trap she said.
Earlier, in her welcome address, Ms Shubhraa Maheshwari, Chairperson—FLO Hyderabad said Money management is an essential skill for not just women, but all of us.
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