“Business growth is dependent on solvency, credibility, ability to raise funds, availability of resources and liquidity”. Elaborate briefly on all these aspects of financial management.

Financial management is crucial for the growth and sustainability of new and small enterprises. Let's delve into each aspect mentioned in the question:

1. Solvency:
Solvency refers to a company's ability to meet its long-term financial obligations. For new and small enterprises, maintaining solvency is essential to instill confidence in investors, creditors, and stakeholders. It involves managing the balance between assets and liabilities, ensuring that the company has enough assets to cover its debts. Effective solvency management requires careful budgeting, monitoring cash flows, and managing debt levels _________ ____ _____ ___ _______ _____ ________.
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