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A FinanceHead helps a business owner/manager by:

  • Interpreting the financial results (and other Key Performance Indicators) so that appropriate and timely action can be taken. In co-operation with the bookkeeper, they can ensure that regular reports are designed and produced to help business owners focus on key factors, both financial and non-financial, and make informed decisions.
  • Looking forward with detailed financial plans, in line with the company strategy, including regular updates to reflect current trends and changing circumstances.
  • Seeking possible cost savings and/or cash and profit improvement measures by providing proactive advice and support.
  • Being a trusted and experienced business head to bounce ideas off.
  • Helping with contract negotiation or unusual transactions, including preparing the business for an acquisition, investment or exit.
  • Liaising with the business’s external advisors and other professionals such as auditors, solicitor, insurance brokers, bankers or other funders.
  • Giving them more time to manage their business while being confident that their affairs are in safe hands.

All of this can be delivered without the commitment and cost of engaging an expensive full-time employee. Businesses only pay for the time required, yet have their FinanceHead on call when needed.

As a business owner you may ask yourself or should be asking:

  • How can I manage my cash flow better?
  • Am I running out of cash? If so when will this happen?
  • How much am I owed and do I owe?
  • What actual profit did I make last month, or this year so far?
  • How does that compare to the previous month, or the previous year?
  • Can I pay a dividend? If so, what do I need to do to mitigate the tax liability?
  • How should I treat what I am spending on product development?
  • Are my staff costs appropriate to my sales?
  • Am I holding too much stock?
  • Is each of my departments/products making a contribution?
  • Which are my most and least profitable departments/products?
  • Is my pricing right? What should I charge for my new product?
  • If I buy some equipment, how best should I finance it?
  • Am I meeting all current tax and staffing legislation?
  • What do I need to do to secure some new funding for my business?
  • What should I do if I want to sell my business?

 

A FinanceHead can help you answer all these questions, and often others you did not know you needed to ask. Being unaware of the gaps in your knowledge is a common problem for business owners. Let a FinanceHead enlighten you. Contact Michael Cartwright who can help you find the best match for your business.

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