View Every Business needs a Business Continuity Plan

Every Business needs a Business Continuity Plan

Unpredictable events happen in business whether the cause is a global pandemic, natural disasters such as weather or even through willful or accidental damage. The impact may be felt directly or indirectly via a key customer, supplier or member of staff causing major disruption to your operations. When adverse situations arise, you must be ready…

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View Why financial forecasting is vital for your small business

Why financial forecasting is vital for your small business

Forecasting is extremely important for any business, but unfortunately, many small businesses do not conduct this process. Business owners are often, quite understandably too busy solving problems and searching for the next sale and do not make time for forward thinking. But in order to identify new opportunities and stay ahead of the competition, small…

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View What is the end goal of a business plan?

What is the end goal of a business plan?

How can you formulate an idea, create a business and then run it if you haven’t got any specific plans to work from? Creating a business plan is no easy task. It can be made simpler and more effective by working through it with an advisor. Ultimately getting your thoughts down on paper will prove…

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View How to pitch your business to VC investors

How to pitch your business to VC investors

Pitching your business to a venture capital (VC) investor can be daunting. You’re potentially competing for a limited pool of money against a crowd of other founders with innovative ideas. And the pressure to succeed makes it easy to fumble your pitch. Even start-ups with fantastic growth potential often make basic mistakes, such as being…

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View 10 things to ensure business survival

10 things to ensure business survival

As the UK attempts to free itself from lockdown and what some expect to be the worst economic collapse in 300 years, business owners will need a clear strategy to help them emerge into what will, for many, be a very different economic landscape. For business owners who have survived so far, the hard work…

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View Improve cashflow by categorising your supplier base into three areas

Improve cashflow by categorising your supplier base into three areas

Throughout this time of uncertainty, the EFM team would like to share some practical guidance and support with our readers to ensure your business stays strong and above the water throughout the pandemic. This week, EFMs Group Managing Director, Finance Director and Growth Partner, Gary Jesson, shares his tips around improving your cashflow management. Every…

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View How can I avoid small business failure?

How can I avoid small business failure?

Management of cashflows, especially receipts from customers, is a major headache for SMEs and one of the biggest causes of small business failure. You can help yourself to manage cashflow by adopting effective invoicing strategies and getting financial help to avoid a cash crisis. Here are four expert tips on how to keep cash coming…

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View Common Cash Pitfalls for Business Owners to Avoid

Common Cash Pitfalls for Business Owners to Avoid

Cashflow matters at all stages of business ownership. Whether you are trying to get a new business venture off the ground, or you’ve been in business for years, it is common to run into cash problems that can drain your company account. However, these problems can be avoided if you are practical with your financial…

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View Why Profitable Businesses Go Bust

Why Profitable Businesses Go Bust

At the risk of stating the obvious, cash is the lifeblood of any business.  A business that has access to sufficient cash can survive making a loss, but a profitable business that runs out of cash when it needs to pay its’ creditors will have to cease trading.  Too many managers remain focused on generating…

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