So, following on from my last blog about cashflow, I thought it useful to cover a business plan.
There are always opportunities for new businesses. If nothing else, the coronavirus (COVID-19) disruption has given people the time and space they need to be creative and to think of new business ideas.
Additionally, the unreliable employment situation is acting as inspiration for people to make the leap and go it alone.
However, if you’re serious about creating a business, you’ll need a business plan – and lots of advice.
In today’s unsteady business environment, cash flow difficulties will become a common challenge for many small and large businesses. Even a very profitable business can face extreme cash flow problems.
There are several things that can improve company cash flow, which are detailed below:
What is Cash Flow?
Cash flow is the term used to describe the amount of available cash within a business. Tight cash flow usually means that there is not sufficient available cash to meet current financial obligations. Whereas a healthy cash flow means that there is sufficient available cash to meet current financial obligations.
An UK employee only Enterprise Management Incentive (EMI) scheme is an approved employee share scheme that is available to most trading companies, allowing employers to grant share options to key employee’s tax efficiently, as a reward for their efforts within the business and/or to retain and incentivise key staff.
Am I the Office Manager or….. the Administrative Officer, Office Services Coordinator, Administrative Services Coordinator, Administrative Support?………yes, it is all very confusing as there are so many titles for this invaluable role.
Business owners are responsible for the economic prospects of their business, the buck quite literally stops with them. Keeping an eye on the daily sales and expenses while aiming towards growth will only get them so far. If growth of the business is to be approached with both foresight and insight, there is a key document that any business owner needs their organisation to have …the financial statement. Continue reading “What’s in the Business Financial Statement?”
I am the part-time Finance and Office Manager for Payara. My hubby calls me semi-retired as I work four days a week and about six hours a day. My day begins at six as I need to prep and dispatch my hubby off to work, but you don’t really need to know that! Continue reading “Day In The Life Of A Finance Manager”
As Payara supplies our support both domestically and internationally, I thought it prudent to attend a recent course hosted by the local Chamber of Commerce regarding International Trade Compliance to understand better the requirements of export …..especially in light of the eventual UK exit from Europe!