Business financial planning is essential for a successful business. However, the pressures of keeping the business going on a daily basis means that business financial planning is not very high on the agenda and is not given the attention it needs. The result is often rushed judgements and missed opportunities.
Every business owner needs a financial planning adviser who has the time to take the long view and advise on appropriate business planning actions before it is too late. With years of experience advising the local business community we have a wealth of experience in business financial planning and expertise for you to draw on.
Some of the key benefits of proper strategic business planning include:
- Ensuring the business has adequate working capital resources
- Addressing shortfalls in the Company product offering
- production resources more aligned to business expectations
- Being better placed to deal with or capitalise on shocks in the market place
- Preparation of annual business plans
- Preparation of monthly management accounts
- Comparison of actual results to budgets/forecasts
Business plans identify KPI (Key Performance Indicators) and breakeven points and can be used as a management tool to measure performance and achievements of individuals and departments to maximise profitability.
Management accounts need to be accurate and prepared on a timely basis to measure performance as all good results need replicating whilst less successful results need correcting immediately.
A plan gives a framework to all employees identifying areas of importance so all can be working in the same direction.
Contact us today for a planning review.