BUSINESS
Part of the financial management of your business which you may wish to implement is performance monitoring. This is undertaken on the basis of prepared budgets, and is usually completed in conjunction with management accounts.
Performance monitoring can help with…
- The early identification of problem areas in the performance of your business.
- Cash flow management.
- If your business has several different elements or processes to it, performance monitoring will enable identification of any area which is under performing. Which could otherwise be masked in your overall business performance.
How can we help you?
- We can assist you to establish an appropriate performance monitoring system,
- Provide you with the initial budgets and necessary templates to allow ongoing review.
- We have experience in management accounting and costing in industry which is particularly relevant to successful performance monitoring.
- We can help with reviewing of your business plan which in turn will monitor performance.
- We can help to prevent problems by effective monitoring of your business.
We can provide you with professional and experienced personnel to help you with developing your business plan particularly with cash flow forecasts and budgeting. These are the key corner stones of a successful business.
Some of the reasons why you may need a Business Plan include:-
- To help to get your business started.
- To help to keep your business focussed.
- To manage the cash flow and financial forecasts.
- They may be required by potential lenders when applying for any loans or overdrafts.
- When you are seeking to attract investors into your business.
- When applying for grants.
How can we help you?
- We offer a fixed price business plan for start up businesses £500 (+VAT)
- We can provide you with support and assistance in the planning process.
- We can help with all or just certain aspects of the business plans.
- We can assist with straight forward basic planning,
- We can help you to develop more complex plans incorporating forecasting and budgeting modules,
- We can facilitate performance monitoring and review.
- We can help to simplify a process which can be complex and daunting.
- We can provide you with a template to get you started.
- We can help you to progress the plan as your business grows and develops.
Whether you are a new business starting out or an established business who may be looking for grants to support growth. The process of applying for grants can be timely, complex and frustrating.
The application process is more likely to be successful if it is completion incorporates all the relevant documentation, figures and plans.
The project could include business planning, corporate identity, recruitment, ICT infrastructure, exporting, training, website design, market research, investment in plant and machinery, and legal advice: the list is extensive.
However, it is unlikely that a grant will be available for a business to do exactly what it likes with the funding and usually you will have to put up some of your own money towards the project.
How can we help you?
- We can provide professional financial information to support your application.
- We can help to produce your business plan.
- We can help generate budget and cash flow forecasts.
- For established businesses, we can provide evidence of performance.
- We can improve your chances of being successful in your application.
If you are thinking of expanding your business, or starting a new one, you will need to raise finance. This requires careful planning and good professional advice.
It is generally wise to spread your commitment over a number of finance sources. This will give you greater flexibility in the long term. Some common sources are:-
- Overdrafts & Loans
- Commercial mortgage
- Share issue for your company
- Hire purchase
- Leasing
- Debt factoring
- Assistance from Government-backed schemes
- Venture capital
If you need help choosing a finance source or securing the finance or preparing a business plan we can help. We have considerable in-house expertise and an extensive network of contacts and we might even be able to help you refinance your existing commitments to your advantage.
CI Accountancy has established relationships with most of the high street lenders and a number of finance companies.
How can we help you?
- Work with you to prepare business plans, incorporating the budgets and forecasts your lender will require.
- We will advise you as to the best form of funding to suit your circumstances and requirements.
- We can advise you on the most cost effective method of funding, not just in terms of interest charges and repayments, but taking into account the cost of taxation as well, and the type of loan or credit facility you should use.
- We can assist you to make an appropriate presentation to your chosen bankers,
- We have access to a number of sources of non-bank finance which we can introduce you to.
When you set up a new business it is essential that you get the right advice.
There are various options for you to choose from:
- Limited
- Sole Trader
- Limited Liability Partnership
- Partnership
To find out which option would best suit you and your business, get in touch to book a free no obligation appointment with one of our expert advisors.
Starting a new business is a big decision and can be full of challenges. People start up in business for many reasons including previous experience, a hobby or interest, something they are good at or just a gap in the market.
Maintaining a successful business requires lots of commitment and a wide variety of skills.
There are many things to think of when starting up and we can assist with any of the following:
- Legal structure
- Business Name
- Registering as self employed
- Registering for VAT
- Business Planning
- Accountancy
- Business Bank account
- Finances
- Bookkeeping
- Premises
- Operations
- People
- Marketing and Promotion
- IT requirements
We know that money can often be tight when you are setting up a new business, this is why we are offering a fixed price business plan service for start up businesses – £500 (+VAT).
Book an appointment today for a free consultation with our Business Specialist to find out all you need to know about starting your own business and get your business set off on the right
“planning your purchase is essential”
We have experience in supporting businesses in acquiring, disposing of, or merging two or more businesses.
At the outset of the process professional advice can prevent many of the pitfalls associated with this process. We can advise you on the aspects of the processes involved to ensure that all tax reliefs are obtained.
Once the merger or disposal has taken place, we can provide ongoing advice and support.
How can we help you?
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CI Accountancy
11 - 12 The Courtyard
St Mary's Chare
Hexham
NE46 1NH