“You can’t know it all. No matter how smart you are, no matter how comprehensive your education, no matter how wide-ranging your experience, there is simply no way to acquire all the wisdom you need to make your business thrive,”
Donald Trump, American business magnate.
What’s on this page?
- Management accounts
- Business plans
- Profit extraction
- IT systems
Every business should plan ahead to ensure success but the day-to-day pressures of business can conspire to prevent this process. Financial information should form the backbone of the decision-making process, yet often the information is missing – or takes a considerable period of time to collate because the systems and procedures have not been put in place.
Management accounts
The problem with statutory accounts is that they record historic information and may be finalised up to 9 months after the event. As such they cannot be relied upon as the basis for day-to-day management decisions.
At A-spire Business Partners we can prepare management accounts on a regular basis, maybe monthly or quarterly, to enable you to have an up-to-date awareness of the performance of your business, so that you can make timely business decisions.
These management accounts can be used for variance analyses such as comparing actual sales and costs against forecasted figures. In addition they will provide the figures for a variety of useful performance indicators, for instance the time taken to turn finished goods into sales and how quickly you are being paid for those goods.
For further information about how A-spire Business Partners can help you, please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .
Business plans
Business owners often think that business plans are needed only when seeking investment from a bank or other financial institution.
However, budgets and cashflow forecasts are extremely useful in assessing the viability of a new project or foreseeing potential shortfalls so that you can legislate for them in advance, or just to have an idea of where the business might be in a year or two years time. They are an essential tool of any well-run business.
We have vast experience in preparing cashflow forecasts and budgets from very simple models to highly sophisticated ones, incorporating sensitivity analysis, depending on the use they are going to be put to.
Profit extraction
There are several ways in which owner-managers of SMEs can reward themselves for their efforts. Commonly this may be by way of salary, bonuses, benefits, pension contributions, dividends or a combination of these.
The ultimate decision on remuneration will be made by balancing any tax advantage against other commercial considerations, having regard to the prevailing tax legislation. Consideration may also be given to the ultimate exit strategy when considering the options.
We will discuss your requirements and advise you on the optimum way of extracting the profit from your business.
For further information about how A-spire Business Partners can help you, please contact us for your free initial consultation.
You can phone 020 8864 9626 or send an email enquiry to .
IT Systems
At A-spire Business Partners we use a number of different accounting packages, including cloud-based systems, and have a good working knowledge of most of the systems available. We will be pleased to discuss your requirements as regards IT and advise you on the most appropriate system for you.
For further information about how A-spire Business Partners can help you, please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to ">.