It’s not always easy to manage your finances and keep them on track. For small businesses or larger enterprises it can be helpful to get a fresh perspective on your financial activities. Bringing the services of a qualified financial controller, as opposed to an unqualified bookkeeper or a practicing compliance accountant to your business could…
Finance teams within small and medium-sized companies often say that financial reports prepared for board meetings, like profit & loss and trading reviews, get little or no reaction from attendees. In some cases, this could be due to the financial data not being understood fully or correctly. However, it could also be around providing insightful analysis…
Many business owners would consider their business a success if they managed to achieve a consistent level of growth. But for entrepreneurs with their sights set on taking their business to the next level, it almost certainly requires they be able to achieve scale. Knowing the difference between growth and scaling up is the key…
Just as good cash flow keeps a business afloat, poor cash flow can sink it. Poor cash flow is a big reason why one in every four businesses don’t make it past the first year. And why more than half don’t survive past the fifth. In this article, EFM will explain what cash flow is,…
A Portfolio Finance Director (“FD”) is an FD who has more than one client, so someone who may work full time but for multiple companies at the same time. There are many advantages to hiring a portfolio FD. SME companies who could not otherwise afford the services of a full-time FD, can employ an FD…
Take two businesses, of comparable size, revenues, and profitability. Why would one sell more quickly than the other—and for considerably more money? Here at The Legal Director, it’s a question that we often ask clients, in order to illustrate the benefits of exit planning. The reason isn’t difficult to discern. One of those businesses will…
Advisors empower entrepreneurs by providing perspective. Effective advisors can help small business owners evaluate ideas and unlock the aspirations they have for the business. The key is to find someone that can challenge your thinking, share the actions you’ve taken and be flexible about how the relationship evolves. Here are EFM Growth’s top tips around…
There’s been an evolution in the responsibilities of the FC. Financial Controllers (FCs) are moving past the traditional financial controller remit and are playing a more strategic role in their company’s operations. According to a recent study by Ventana Research, roughly one in five FCs have a strategic influence in their companies, and that number…
When most people think about bookkeeping and accounting, they would be hard-pressed to describe the differences between each role. Whilst bookkeepers and accountants share common goals, they support your business in different stages of the financial cycle. Bookkeeping is more transactional and administrative, concerned with recording financial transactions accurately and efficiently. Accounting is more subjective, giving the business…
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