Financial Apps For Entrepreneurs
Smartphones have become one of the most crucial parts of every day’s life. From a young adult to a mature one, smartphones help in their daily activities such as calling, messaging, taking selfies and much more. Among these, the most needed ones are the application, which helps in every ordinary and mundane activities such as booking a taxi, ordering food, interacting with new people, recording our daily routine, helping in our physical activities, and even boosting our business.
We know that being an entrepreneur has its own never-ending challenges and lots of responsibilities. From dealing with the name of the business and bringing it into the potential market to maintaining its image among the customers, there needs to be a tool that helps we manage these all at one place. To our convenience, there are several event organizer apps available online to ensure that all our to-dos are in systematic order and are good enough to help us in networking, marketing and accounting and financing as well.
Starting out as an entrepreneur is tricky, but dealing with business financing is trickier, especially when you do not have a remarkable background for accounting. Do not worry. This does not conclude that you are not eligible to succeed in business. There are lots of struggling stories behind so many entrepreneurs who became successful despite the lack of financial knowledge. The foremost important thing is discipline, that can help you achieve your 100% and the second thing is getting assistance from reliable sources, whether it is a person or an online tool.
In case you are scouring the Internet for the most helpful financial apps for your business, we are making it simple for you by listing down the best ones so far below:
If you are looking for online tools that can give a boost to your business finance, then here are some options to simplify your job:
1. Mint Money Manager
To have the higher chances of successful business, it is important to track operational and financial expenses, and most importantly, the value of returns.
Mint is a finance managing app that can help you to plan your budget and track your expenditures at each step. Not only this, it can also help you to pay your bills automatically and track your financial transactions in your bank account. It also gives you the balance amount in your account and how much debt is incurred in your each account.
Besides the business tracking system, Mint also gives you the statistics of your daily expenses including food, transportation, shopping and other living expenses. If you are an extravagant, then you can also set a limit, so that when you reach the set limit, the app will send you a notification.
The app also offers advice related to investment and finance, in the matters of business, family and personal budgeting.
2. Toshl Finance
Quite Similar to Mint, Toshl helps in tracking the finances and money management. Differentiating it from Mint, the app provides categories and tagging, separately for budget expense and finance tracking.
It also has the option to export information from Google Sheets, Excel Sheets and PDF. It also has the option to the amount in different currencies and exchange rates. Toshl also provides the option to sync the data (expenses and debts) with the cloud, so reducing the chances of data getting lost. Besides the figures, the data is also presented through bar graphs, maps and charts.
Acorns is a place for all your investments and profits. It is a secure way to grow income by investing in the right stocks and funds.
The app is developed keeping in mind the needs of young investors, who are new to this field. It guides them about safe investment. To do this, it is important to link the app with the bank account so that it can determine your financial status. Then, on the basis of the available balance in your account, the app recommends the most suitable portfolios. You can start your investment at a very lower price i.e. $5. After that, you have the choice to automatically invest each month or do it manually. The best thing about this app is its feature of saving up the spare changes automatically and keeping them aside for investing.
Especially meant for start-up business owners, Venmo is a money remittance app. Similar to PayPal, the app allows you to send receive money by just searching the other person’s username.
It can also be used for salary payment. Most of the business partners use it to transfer cash and track debt in. The signup process requires syncing with Facebook.
5. Micro (Loan Calculator)
To give a great start to businesses, most of the entrepreneurs go for loans to maximize funding and capital. For this, the Loan Calculator devised by Micro provides information about the most affordable loan amount by computing credit sales and profit values. The app may seem to be little complex for the newbies as it does not provide information through charts and graphs, making it complicated to read and compare the obtained financial information.
These apps are widely used and are proficient in tracking and automating financial transactions and budgeting. Despite this, you will still need to do the saving and investing on your part. The apps can only provide us with systematic work schedule in a convenient and smoother manner, but the actual job is still needed to be done from your end.
If you are a beginner in entrepreneurship and want to invest, then, besides using these apps, keep these below points in mind:
- Be in discipline and get rid of over expenditure.
- Less amount of money spent on leisure activities will ensure higher Return of Investment (ROI).
- Learn marketing and networking skills to help your brand get a good reputation.
- Maintain good connections with lots of people through Social Media.
- Use essential tools such as Google Analytics to analyse the engagement rate and source of traffic and customer management platforms such as Salesforce.
Being an entrepreneur requires lots of discipline regarding financial expenses and budgeting status.