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…
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…
Background: The company had undergone a difficult period where a transformation of the business had not delivered the expected sales growth. This resulted in it carrying significant overheads and therefore making a loss and putting severe strain on cashflow. The board had begun the process of changing the management team and two non-exec directors had…
Effective financial management is vital for a business’ survival and growth strategy. It involves planning, organising, controlling and monitoring your financial resources in order to achieve your business objectives. Good financial management will help your business to make effective use of resources, fulfil commitments to your stakeholders, gain competitive advantage and prepare for long-term financial…
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