Long-Term Financing Needs. Long-term financing is money that will be used for longer than one year. Long-term financing is needed to start a business. The Need for Financial Management. Without financing, there would be very little business.
Many people take finances for granted.
Their first focus may be on production or marketing. As long as there is sufficient financing today, they don't worry about how well it is used or whether it will be there tomorrow. Proper financial management can ensure that Financing priorities are established in line with organizational goals and objectives. Spending is planned and controlled in accordance with established priorities. Careers in Finance.