Identifying the best time to start the process of hiring a financial controller is a key decision requiring much thought. Before going into more detail, reflect on your business journey to date. You probably already have some sort of financial infrastructure or you would never have got this far. Perhaps you have a bookkeeper to…
Building a successful business from start-up to sustained profitability is no easy feat, especially in the current economic climate. There are no short-cuts or absolute guarantees when building a thriving business. But there are successes, which come from a combination of careful planning, hard work and working with the right team. After investing significant amounts…
R&D Tax Credits is a tax relief scheme managed by HMRC aimed at boosting business innovation and intellectual property. The latest annual report published by the HMRC revealed that the number of SMEs claiming R&D Tax Credits has doubled from 15,585 in 2013-14 to 34,060 in and 2016-17. This is good news for all SME…
Credit control can be a topic that causes stress for small and large businesses alike, and more importantly the business owner. Remember, a sale is a waste of valuable business resource until the cash is collected. Improving credit control is the easiest way any company can access “new” finance. A good credit controller has competencies…
What is business turnaround? Business turnaround usually refers to the process surrounding the financial recovery of an organisation that has been under-performing for a significant period of time. There could be many reasons why a business needs assistance – it may be losing serious amounts of revenue, or worse, could be facing insolvency. A turnaround…
Background: The company had just taken over a competitor business, doubling its size overnight. It had relocated to allow the two businesses to be co-located and had lost key finance staff as a result of the move. In addition to this, immediately prior to the acquisition, the business had undergone a G/L implementation that had…
About Andrew… Andrew is a robust, “hands-on” Finance Director with significant international experience, having worked with a variety of successful media, publishing, telecoms and technology companies varying in size from globally listed operations to family-owned SMEs and venture capital-backed start-up businesses. Prior to this Andrew qualified as a chartered account with KPMG. He has a…
Eligible companies can apply for R&D Tax Credits to offset their corporation tax bills, or as a cash rebate. However, there are still many companies that are unaware of this government incentive scheme. For those business owners that are aware, there are still many basic questions concerning the scheme and the potential benefits that might…
EFM has recently launched a new service “Finance Director on Demand” designed as a free helpline for SMEs providing practical guidance and support with business financial matters. Here at EFM, we have met a lot of SMEs who are struggling with their finances and need professional guidance and support to overcome their challenges. This is…
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