It is often overlooked by newer business owners that having tidy, predictable results shown clearly in your reports can actually help you to achieve success!

We have worked with a client who wanted to sell their business in the last few years. Having monthly dashboards and up to date management accounts really helped them to discuss the results of their business with potential investors. We were also able to assist when the buyers had additional questions, because over the years we had worked closely with the business owner.

We sometimes work with clients who have had to resort to emergency funding in difficult times. If you don’t have a handle on your business results, it can be difficult to get lenders to offer loans or finance agreements – which can lead to business owners having to borrow at higher rates of interest. If your books and results can not show that you have good control over your finances, you may only be able to turn to less reputable lenders who always charge higher rates.

There are costs involved in keeping the books up to date, but we have seen that there is also a cost associated with letting your finances get out of control.