Managing a small business is a busy time. Your focus is on developing sales, recruiting the right people and creating the right infrastructure. Time is a precious resource which you need to spend wisely.
Budgets & Forecasts
Keeping an eye on your costs and cash flow is essential and that is what producing a set of Budgets and Forecasts allows you to do. EZ Accountants can help you to prepare budgets and when complete, the budget plan gives you more control over your finances.
A business plan is vital as it can forecast peaks and troughs in your cashflow so you can look ahead and assess whether your finances will balance or if you will need extra financing.
We use budgeting software which allows us to create a business plan from basic to highly detailed so we tailor the plan to our clients needs. Through discussions with us, you can choose what depth of analysis you wish to go to and what type of plan you require.
EZ Accountants has been assisting and advising businesses at every stage of their development – from start up right through to disposals or passing the business on to the next generation. We can assist you by taking a pro-active role in the financial stewardship of your business in many different ways:
- Developing a Strategic Plan, setting out objectives, opportunities, constraints and an action plan.
- Preparation of a coherent overall Business Plan incorporating integrated cash flow, profitability forecasts and an assessment of future working capital requirements.
- Advice on business finance whether via bank funding, factoring, invoice discounting or external investment.
- Managing the banking relationship – facilitating a good working relationship with the principal source of day-to-day finance.
- Profit improvement and managing growth – a detached and objective view bringing specialist skills to supplement their existing capabilities.
- Tax planning, retirement planning, pensions and investment advice.
- Financial Forecasts – the preparation of profitability and cash flow forecasts to help you to predict for future funding and resource requirements. These forecasts can then be used in conjunction with the management accounts to perform valuable variance analysis, including investigating discrepancies.
You’re now ready to go at it on your own but need a helping hand in getting started? Don’t know what to do next?
There are a number of legal entities that a business can take: Limited company, Sole Trader, Partnership and Limited Liability Partnership. Each of these entities have both advantages and disadvantages but we will advise you on which is the most appropriate for your needs and circumstances.
Business Strategic Planning
A business plan is a basic tool for running your business and essential when you are trying to raise finance. We will help you produce a professional and informative business plan that will optimise your financing opportunities.
Business plans should generally include an executive summary, business plan information, financial commentary and projections.
This is a short summary of the plan, which should state the purpose of the plan and highlight all of the significant issues identified in the main body of the report.
Business plan information
This section wil give a review of the operating activities of the business including:
- Overview of the proposal.
- Productions and services, including planned developments.
- Sales and market profiles.
- Facilities and premises.
- Management and personnel.
Financial commentray and projections
The financial analysis should comprise integrated cashflow, working capital and profitability forecasts:
- Profit and loss, balance sheet and cashflow projections on a month by month basis.
- Clear assumptions for the basics of the forecasts.
- Anticipated level of finance required.
- Sensitivity analysis to demonstrate how sensitive the figures are to changes in the key factors.
- Commentary to support all of the prepared figures.
Our team will work with you to develop a strategic plan which will help you outline your long term objectives, the opportunities and challenges facing your business and what needs to be done to put your business in the best possible shape for the future.
Mergers & Acquisitions
Mergers and Acquisitions (M&A) can be complicated, time consuming transactions and if not managed effectively, can lead to problems within the original business. It may also be difficult for the business to secure the necessary funding required for the transaction to take place.
The main services that we can provide to your business include:
- Developing an acquisition strategy.
- Identifying potential targets.
- Appraising targets and assessing the fit.
- Gathering information on the target.
- Feasibility of the proposed acquisition.
- Formulating an offer.
- Negotiating with the vendor.
- Developing the business plan and forecasts.
- Raising funding.
- Due diligence.
- Post-acquisition integration.
myFDadvisor is a cost effective Finance Director advisory service for SMEs who have outgrown their finance function. Working on a part time basis and headed by head accountant, myFDadvisor identifies the key issues holding back business growth and develops meaningful management information and financial forecasts. By then chairing monthly board meetings, the service aims to deliver a step change in performance helping clients achieve their financial aspirations.
As a business grows, entrepreneurs can spend an increasing amount of time on financial and compliance issues. myFDadvisor provides an independent sounding board, focusing resources whilst also providing credibility to stakeholders, including funders.