Financial reports can feel intimidating, especially for founders without a finance background. But understanding the basics can dramatically improve decision-making and confidence. In this practical guide, Rebecca Nankya Ssemugabi breaks down how to read a balance sheet in simple, everyday language, supported by a hands-on balance sheet generator you can try yourself. M ost founders don’t struggle with running a business. They struggle with understanding the numbers behind it. And few reports feel more intimidating than the balance sheet. But here’s the truth: a balance sheet is simply a snapshot of what your business owns, what it owes, and what’s actually yours at a specific point in time. The Balance Sheet in One Line Every balance sheet is built on one simple equation: Assets = Liabilities + Equity Assets are what the business owns Liabilities are what the business owes Equity is what belongs to the owner(s) If this equation balances, the balance sheet makes sense. A Simple Exa...
The tech industry is eating the world. Despite the meltdown and recession globally, the tech industry is witnessing a surge . Startup culture is taking root in different parts of the world besides the silicone valley. Let's see some of the emerging technology hubs around the globe π. It's a glaring fact that the US is the biggest tech hub in the world π. With several decacorns and even hectocorns, the US is leading the pack. The FAANG companies are headquartered in the US. However, other tech hubs are in metamorphosis in countries like England, Ireland, Sweden, Singapore, India, the Philippines, Hong Kong, China, Turkey, and Pakistan. Companies like Deliveroo and Revolut have gained recognition recently in England. Asia is emerging as a lethal force in the tech industry. India and China with their large markets are leading the pack. China has several unicorns π¦ e.g., Ali Baba , Baidu , ByteDance (the parent company of TikTok), with other 300+ unicorns. Hong Kong i...