Going through the process of constructing a financial plan is a valuable exercise for any business owner. The financial plan, or budget, helps guide the day-to-day decision making of the business. Comparing forecast numbers to actual results provides important information about the overall financial health and efficiency of the business. Even a one-person company needs to have a financial plan in place.

Cash Management

Many businesses have monthly or seasonal variations in revenues, which translate into periods when cash is plentiful, and times when cash is in shortage. By creating a financial plan, the owner takes these variations into account to keep a tight grip on expenditures during the low revenue periods. Poor cash management can result in consequences such as not being able to pay suppliers, or overheads.

The Objective

The first step in developing your financial plan is to meet. We then carry out an assessment which begins with a review of your current financial and business circumstances, anticipated changes, future plans, and from this we aim to work with you to create a more robust financial monitoring system to help decide in advance how much to spend, where to spend, and on what to spend according to the funds at your disposal through the business cycle.

The Process

We gather as much information as possible at our first meeting, which allows us to build a picture of your current situation and your requirements. Once we have built a clear picture of what you want to achieve, we will then agree on what will happen next.