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Managing finance

Look after your finances with Isle of Man Bank

A vital part of successfully running a business is looking after your finances. This guide covers a variety of different issues from raising finance for your business and forecasting sales right up to dealing with VAT if applicable.

Breaking even

The first financial target of any business is to break even - that is to cover all the costs incurred by the business.

Forecasting sales

Every business needs to forecast sales and then use the information to budget effectively.

Keeping costs down

For your business to be successful, you need to ensure that your income exceeds your expenses.

Managing cashflow

Every business has to watch very closely its income, profit and cash situation.

Raising capital

An early challenge for anyone about to start in business is to convince investors or lenders to invest and lend you money.