Some of the common issues we have encountered so far...
Surely we're not big enough to need a Finance Director?
Many small business owners feel that an FD is an expensive luxury that is only relevant once you reach a certain size. This doesn't take account of the value an experienced FD can bring, as well as the fact that investors and lenders look for this type of resource in businesses they fund, providing them with the assurance that their money will be properly applied and safeguarded.
A core element of Financial Pathways services is the ability to offer a "Pay As You Go" FD service, either on an as needed basis, or on a longer term contract basis - each situation will be assessed individually and options offered according to the business requirements.
How can I get a better understanding of current performance?
You have a feel for what is happening now. Are you sure? Could you do better?
Regular monthly management accounts provide a regular and timely understanding of how well your business is doing during the year - we will provide an easy to understand set of monthly reports covering Profit & Loss, Balance Sheet, cash position. You could have up to date information on contracts, sales, overhead costs and profitability.
Very often, your bank may require regular accounts and should you approach new lenders to help fund growth plans, they will require management figures as well as yearly accounts.
I have some ideas to grow the business, but what do I do first?
We can help you formalise your dreams and plans, to get you from here to there. We can also work on a more senior level helping the management team to take a step back and look objectively at the business.
We will work alongside the senior management team to formulate forecasts and budgets for the coming year and potentially 1 or 2 years beyond that.
Armed with new ideas and with our assistance, a clear strategy can be created and implemented.
What cash do I have available?
This is a key area for any business. As the saying goes 'cash is king'.
We can provide you with regular cash flow forecasts, put management systems in place to help you ride the peaks and troughs. We can provide you with the reassurance that the road ahead is clear, or warn you that there are obstacles ahead. And then help you work out a new plan.
Without this guidance you could be heading for problems without realising it. With the right information, you can sleep at night, knowing where your business is heading.