In this blog post, we’ll offer our best practices for creating reliable management accounts that can empower your business.
By analysing key financial data, such as profit and loss statements and balance sheets, management accounts allow businesses to identify areas for improvement and allocate resources effectively.
Taking investment is probably one of the most significant steps in any business owners journey – it’s a huge decision to take someone else’s money to help grow and in turn offer them a stake in your business. Seeking investment is a process that requires a bit of consideration and planning before diving in –
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Software as a Service (SaaS) and technology businesses require heavy investment and the ability to scale. Having an outsourced Chief Financial Officer (CFO) or finance function will help to properly support the metrics needed to present to potential investors, and once you get investment, your business can begin to scale. “In the early days of
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Citing 2021 U.S. Bureau of Labor Statistics data, Investopedia reports that about 20% of new businesses fail within two years of opening. Meanwhile, 45% fail during the first five years, and 65% don’t make it to their tenth year. Just 25% of new businesses last at least 15 years. How can you increase your start-up’s
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Uncovering the Secrets of Rapid Growth for Small Businesses For hard-charging UK small business leaders intent on reaching the next level fast, implementing the right mix of strategies is crucial. As your firm evolves from an ambitious start-up to an established organisation, fresh challenges arise that require new ways of operating. The tactics that brought
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What Should Small Businesses Expect From A CFO? Small businesses are the backbone of the economy, providing jobs and driving innovation. However, running a small business can be difficult, and managing finances is one of the most challenging tasks. That’s where a Chief Financial Officer (CFO) comes in, providing strategic guidance and financial advice that
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Why Your Retail Business Needs A CFO When it comes to the success of your retail business, it’s easy to get caught up in the hustle and bustle of daily operations, striving to meet sales targets and provide exceptional customer experiences. However, amid the chaos, there’s a crucial role that often goes unnoticed, but which
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What To Look For In A CFO For Your Business A Chief Financial Officer (CFO) plays a crucial role in any business, regardless of its size or industry. The CFO is responsible for managing the financial aspects of the company and providing strategic guidance for decision-making. Finding the right CFO for your business is essential
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Is It Worth Having A Financial Advisor? In today’s complex financial landscape, managing your personal finances can be a daunting task. Many individuals find themselves overwhelmed by investment options, tax planning, and retirement strategies. This is where a financial advisor can play a crucial role. In this blog post, we will explore the world of
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Do All Businesses Need A Business Plan? Business planning is a fundamental aspect of running a successful venture, serving as a roadmap for entrepreneurs to navigate the uncertain waters of commerce. While some argue that not all businesses require a formal business plan, there are compelling reasons why having one can significantly increase the chances
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If you have been seriously considering setting up an ecommerce business, it is fair to say that you would have various compelling incentives to follow through with this idea. In 2020, the COVID-19 pandemic supercharged the online retail sector, as lockdowns saw a large number of brick-and-mortar stores temporarily closed and customers purchasing non-essential goods
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Finances are a key element of any business, and employing the right staff to manage the company’s financial health can make a huge difference. However, hiring an experienced Chief Financial Officer (CFO) is often expensive and not always feasible for small businesses. To fill this gap, fractional CFO services have been gaining traction in recent
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This year we’ve seen big changes in several banking institutions, a volatile stock market and consistent interest rate rises from the Bank of England. In these uncertain economic times, we believe it’s more important than ever for businesses to plan ahead financially and be aware of risk. As we all know, the business world is
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