YOUNG MEN IN BUSINESS

Press, Volume LXXII, Issue 21806, 11 June 1936, Page 9

YOUNG MEN IN BUSINESS

ADVICE TO BEGINNERS ADDRESS TO ADVERTISING • CLUB Even in the difficult times of to-day there were good prospects for anyone beginning in business, said Mr J. Mawson Stewart in an address entitled. “Advice to Young Men Entering Business,” to members of the Canterbury Advertising Club last night One requisite for success, however, was brains, perhaps better described as “horse sense.” It was essential, too, that any young man starting in business should have the capital suitable to his requirements. Too many in New Zealand began their business careers with insufficient capital either to run or develop a concern. One of the first essentials in beginning a business was a knowledge of a balance-sheet and especially was this necessary in judging the soundness of any business it was proposed to enter. Americans were past-masters at judfi* ing the prosperity of a firm from bal-ance-sheets, he said, and he read examples of balance-sheets to prove the necessity of a knowledge of their value as an index to a good business, with special attention to liquid assets which would be available for development. Need for Enquiries Unfortunately there were young men v/ho went Into businesses without making any really pertinent enquiries at ail he said, and quoted examples of his own knowledge. Mr Stewart referred at length to the modem study of budgetary control, and sa id that many firms could now forecast their • years' profit long befort tot JOCKI were closed lor the yen. That was because all receipts and expenditure had been budgeted for, and compared month by month with actual takings. During the depression, the banks m New Zealand had asked budget particulars from clients holding overdrafts, and tixis practice had been of much benefit. , , . Mr Stewart was warmly thanked sec his addreat