MONEY

Money and Financial Management

Money and finances and maintaining financial control is clearly at the heart of every successful business. It is well known that insufficient working capital leading to a cash flow crisis is a common cause of business failure. Within the money pages we look at some of the techniques for managing money and finances.

Sources of Finance

Someone famously said ‘turnover is vanity, profit is sanity’. In the UK there is a myriad of options for improving cash flow, raising finance and improving profits – if you want to discuss options for raising funding for your business book a Free Business Review.

Tips for effective business planning

Are you one of those business owners that do not do a business plan unless you need extra finance? Or have you decided not to bother with a business plan because it is always based on what happened last year and therefore looks the same every year? If so you should seriously consider improving on you business planning and monitoring techniques – see Ten Tips For Effective Business Planning.

Finger on the pulse – cash flow forecasts

We all know that to run a business well we need to look regularly at how we are doing. One of the key tools for this is the cash flow forecast and cash flow monitoring which is essential to avoid a cash flow crisis – for a cash flow example see Finger On The Pulse – Cash Flow Forecasting.

Data to Monitor

It is also essential to decide on key financial and non-financial monitoring data. Checking performance against ongoing data and using some simple financial performance ratios or key financial indicators is not rocket science and definitely should not be left to our accountants alone. For some ideas on what to measure see Financial Performance Indicators.