“If I’m making profit the company’s doing well”, benefit from a financial health check on your business

By Emily Churchill – Client Services Supervisor

Some of the most frequent questions and statements we hear from clients are:

‘If we look after the business, the financials look after themselves’, ‘Surely if I’m making a profit, the company’s doing well?’ and ‘I’ll call you if we have a problem’.

These statements seem logical, right? Well…

By not monitoring the financial health of your business on a regular basis, it can mean that you are unaware of financial troubles until it’s time to take urgent action, this often causes avoidable and stressful times for a business.

Some warning signs to look out for:
• Frequently running out of cash
• Revenue increasing very quickly
• Stock mounting up
• More liabilities than assets in the business

Frequently the warnings above are indicators that measures need to be put in place and action is taken. This is where Inspire can help you.

We work with a lot of our clients to aid them in looking out for these warning signs and educate on the appropriate actions to take.

As part of this service, we also provide reporting and analysis to enable you to gain the confidence you need to make your business the success you know it can be.

Among many ways it can help, our FD on Demand service will help prepare and/or review management accounts, analysis and commentary, assist in the preparation or detailed review of financial forecasts, budgets and business plans. We can even support business decision making and work with director/s to develop your business strategy, goal setting and milestone tracking.

For more information click here or speak with Emily Churchill in our FD on Demand team.