Review your financial position and progress
Businesses often fail because of poor financial management and lack of planning. Often the Business Plan which was used to help you gain finance is left to gather dust.
It is vital that you develop and implement sound financial management systems. If you feel that you are unable to do this you can always call in one of our professionals here at e-ccountant. We are always happy to help.
When reviewing your finances you should consider the following:
Cash Flow – this is the balance of all of the money flowing in and out of your business.
Borrowing – what is the financial position with regard to any lines of credit or loans?
Growth – do you have plans in place to adapt your financing to accommodate your business’ changing needs