Many SME’s need management help or advice on more than just the financing of the business. In a well run business, Finance is not considered as a stand-alone discipline. A company that is in a turnaround situation, for example, is unlikely to be in that situation simply because it ran out of cash.
The painful truth is that somewhere down the line management decisions were made that led to the cash flow crisis. In such a situation the answer should not be simply to throw more money at the problem. Measures must be taken to ensure these same errors of managerial judgement are avoided. If not, the likelyhood is that any new funding will end up down the same drain as the original finance.
Working with our associate company iBOSS we have the experience and the contacts to help with a wide range of management services.. If you need help with submitting applications for finance or restructuring the management of the business, give us a call.
For information on our associate company iBOSS and the services it provides click here.
The planning stage is an essential element of any successful business, particularly for a start-up business. It is also, however, the element that is all too frequently not carried out properly.
It is the stage at which hard questions need to be asked (and answered). Is there truly a market? If so, how does one get the new business established in it? Remember, anyone can write a 3-year plan, but can they write a realistic plan? When doing a cash flow or P&L forecast it’s easy to put in the figures you would like to achieve. Make sure they are really achievable and not just simply wishful thinking?
Existing Business Plan Advice
If you are inexperienced in the process it is important to get suitable advice and guidance. Often a second opinion can help (just make sure it’s an experienced opinion). This is where Business Finance Services Ltd., working in conjunction with its associate company iBOSS, can help. We can advise on the effectiveness of an existing business plan. Alternatively we can call upon a team of experienced professionals to help in formulating a new plan.
A well structured, realistic Business Plan is essential. This will apply, whether you are submitting an application to a Bank for new funding or looking for an Investor.
For more information on our associate company iBOSS and the planning and business advice services it provides click Here.