Every business decision made has a financial impact on your company. Whilst things like tracking revenue, staying on top of accounts payable and receivables, and administering payroll are essential to your business, non-financial transactions will undoubtedly also have an impact. While it may have been easy for the business owner to manage these various tasks when they were first starting out, it becomes increasingly…
Managing your finances is critical to all businesses, no matter how big or small. Juggling cash flow, sourcing funding and maximising profitability are challenges to all business owners and these are the things that a part time Finance Director can help with. This is why EFM has developed 7 key benefits around why you…
Whether you’re attempting to increase market share, improve profitability or build your team, every company is trying to grow. Unfortunately, business owners will inevitably encounter challenges and experiences that will trigger pain points and create potential barriers during the business’ growth process. In this article, we walk you through the five stages of business growth…
When assessing the financial performance of your business, there are many critical questions that need to be answered to help reassure the business owners that the company is in a healthy and stable position. Is the business running smoothly? Is it successful, or is it failing? What parts are acting as growth drivers? In order…
Entrepreneurs are the creative spark behind every new business. Often, they are dynamic forces of nature … but there are some things entrepreneurs should leave to others. Confidence. Determination. An appetite for risk. Passion. Adaptability. The list of traits traditionally associated with entrepreneurs is long. However, there is one thing every successful entrepreneur must acknowledge…
There is often confusion when discussing the roles of Accountants and Finance Directors. After all, they both work with clients and businesses to help improve their financial outlook. However, there are some key differences when it comes to how they go about achieving this. Typically, Accountants will handle financial records and reporting, and ensure their…
Without a timely and consistent inflow of money, businesses can be significantly and adversely impacted. This can put huge pressure on even the most successful of businesses which may result in senior management time having to be spent focusing on non-value adding areas. With an effective credit control procedure in place, the threat of late…
You might think a Finance Director’s role is confined to traditional finance activities, but today’s FD can do so much more than count beans. In the past, an FD’s responsibilities might have been confined to high-level accounting such as providing timely financial statements and monthly management reports, managing investments and expenses, monitoring cash flow, and…
You’ve launched your business, sales are growing at a healthy rate, customers are lining up and there may even be interest being shown in international markets. You should be basking in the light of your success, but instead you have so much to do, it’s hard enough to find 15 minutes to grab a sandwich…
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