At this time of year business owners could fall into two quite different camps.
– those who are comfortable with progress, business development and sales so far;
– those that are embarking on a final push in all directions so that they feel that Christmas targets are achievable
For either of these groups, the opportunity to have a financial health check at regular intervals throughout the year can give can provide visibility and confidence. With a fresh pair of eyes to check over issues such as accounts, tax planning, banking, funding requirements, efficiency and internal processes, a financial health check provides the opportunity to address any issues before they become critical.
Carrying out this exercise on a regular basis, preferably on a quarterly or at least on a bi-annual basis is the best way to gauge how the business has performed and allows business owners to adjust their plans based on current performance and targets.
If your businesses hasn’t met the targets that you set, it’s important to have the opportunity to assess which areas have not delivered and determine the next course of action to get things back on track. Re-assessing the reasoning and assumptions that surrounded the targets can be part of the exercise as this helps to understand the best direction to take and ultimately achieve the success desired.
Areas for consideration could be new products and services that can offer business opportunities for growth or it may be as simple as a re-evaluation of the current pricing or fee structure.
Here at Keen Dicey Grover during our financial health check process we make it our business to review your cash flow statements, financial statements, profit and loss forecasts and sales forecasts. This way we can realistically look at your goals and financial projections, and work with you to determine the best way to achieve growth within your business.
We understand how vital it is to be in touch with your businesses’ financial health and we make the time to support our clients to closely monitor the difference between their plan and the reality, thereby ensuring our clients feel confident and informed about their businesses and thus ultimately helping them to drive success into their future.
Keen Dicey Grover
We care… we really care
Gareth Davies FCA
Keen Dicey Grover
Accounts, tax and business advice: 01753 652098