Decode Your Bank Account: Unlocking the Hidden Financial Health of Your Business
Last updated 8th March 2023 Does your bank account tell you what’s going on in your business? Do all of the reports from which you manage your business, including aged debtors and creditors (we’ll come back to these in later blogs), never quite seem up to date? The underlying issue could be hiding in your […]
Don’t Let These Mistakes Drain Your Bottom Line: 6 Finance Team Blunders a Finance Director Can Avoid
Last updated 1st March 2023 Why your business isn’t as profitable as you think it should be. Is your businesses experiencing growth, but the cash flow is still tight? You can’t quite understand why? There shouldn’t be any finance issues. According to your Profit and Loss account (P&L), sales are up and your business is […]
In-house vs outsourcing – which is really best for your business?
As the business grows, most business owners will need to decide if and when to start outsourcing, asking the question – “should I hire more staff to handle specific functions and tasks, or would it be better to outsource”? There is often an initial resistance to outsourcing, as those new to it worry about losing control of the functions […]
Hiring the right people, for the right roles, at the right time
As the CEO or MD of a fast growing business, it can be very hard to realise that the people you hired in the early days, who have shown great loyalty to you and the business, are no longer the people that your business needs if it’s to achieve the next stage of growth. The […]
Taking Control of Business
How much control do you have over your finance systems and cashflow – really? You might think you’ve got a pretty tight grip on things, but if you haven’t put the right set of formal internal controls in place you could be at risk of running out of cash, running into issues with bad debtors, […]
Covid-19 Exit Planning for Business
We work with a number of part time FDs who support local SMEs in a variety of industries. One of our longest standing partnerships is with Myles Arnott who has clients that have been impacted at both ends of the Covid-19 spectrum. We asked him, with such diverse clients, how he has been able to […]
How Can a Part Time Finance Director Help My Business?
At any time, the skills and experience of a talented Finance Director can deliver huge value to a small business, but never more so than during challenging times such as the Covid-19 crisis. Hiring an experienced FD is a significant investment, beyond the means of many small businesses. One possible solution, is to work with […]
Why you need good management accounting for your business
A surprisingly high number of businesses are not as on top of their finances as they should be and the recent Patisserie Valerie financial irregularities demonstrate why it’s more important than ever that companies maintain tighter controls over their accounting processes. Management accounts refer to three main data sets: balance sheet, profit & loss, and […]
Reach for the Clouds
Have you realised the dream of cloud-based financial tools? It seems that the market has exploded with cloud-based systems over the past few years. Given the lower costs involved and the fact that you don’t need in-house servers and locally installed systems, it may be time to consider making the move. The Government’s Making Tax […]
Planning financial growth for your business
The start of the year is often a great time to take a step back and look at what business goals we’ve achieved over the past year, including what worked and what didn’t. Although it can be difficult to find the time to assess your business strategy when you’re caught up in running a business, it’s important to […]