6 Common mistakes of managing personal and business finances Managing a business profitably is not a lot different from managing your personal finances. There are more similarities than you think. The key to running a successful business is your ability to manage cash flow. Even the best business ideas can fail if capital and revenue are not carefully monitored. Similarly, if you overspend or mismanage cash on a personal level, you may find yourself with insufficient funds to retire on or have an unacceptable exposure to debt.  Ravi Govender, Head of Small Enterprises at Standard Bank says that by managing your personal finances in tandem with your business finances, you will ensure that both you and your business stay financially healthy.  “We are heading for some stormy waters; labour unrest has pushed back economic growth by 0.6%, the cost of borrowing due to the weak rand is increasing and interest rates are creeping up. Businesses who rely heavily on overdrafts...