Records Are Power
If you cannot show a bank or an investor clear records, you will struggle to access financing — no matter how good your business idea is.
The 7 Essential Records
- Sales records — every sale, date, amount, and customer.
- Expense records — every payment out, with receipts.
- Cash flow statement — money in, money out, month by month.
- Inventory records — what you have, what you sold, what you need.
- Debt records — who you owe, how much, and when it is due.
- Tax records — KRA returns, payments, and receipts.
- Contracts and agreements — with customers, suppliers, employees.
Keep them in one place. Back them up. Review them monthly.