2016 - It’s just around the corner

November 30, 2015 by Andy Crow

2016- It’s just around the corner

It’s around this time that many businesses are reviewing final year end forecasts whilst at the same time planning budgets for next year.

Confidence in the economy and business growth continues, so there is hopefully the anticipation of expanding your operations and targeting new clients.

Good financial planning is vital and especially as we know that sales forecasts and reality can be quite different. However, in managing a business through different periods, there can be additional challenges influencing cash flow that need to be anticipated.

A new business idea might create an initial growth surge requiring an increased investment in operations, stocks, staff or premises, which requires extra funding. Where sales then further spike or stop unexpected. Or perhaps having already made investment commitments, new activity is taking longer to develop. In each case you should be aware of the possible ways of gaining that extra funding at the best rates, and not just speak to your High Street bank.

It is also vital that to keep cash flow stable through peaks and troughs, you make sure that your clients are abiding by the 30 Day payment laws recently introduced by the Government. Enforcing this is relatively easy and advice is readily available for chasing bad debtors.

So where perhaps can further flexibility with additional cash resources come from?

We frequently find that businesses believe they understand their overhead costs and think there is no room for further reductions or improvements.

However, from experience whilst businesses will have a close understanding of their own activities and markets, it is impossible, to have the same depth of understanding in many of the other markets that their various overhead suppliers operate within.

For example what companies are currently are offering the best utility charges? Did you know about the latest laser jet printer offers? What are the comparable insurance premiums for risk of computer hacking?

Chorus Business Advisers has a team of experts that can unlock unknown or seemingly inaccessible benefits that help free you to focus on managing their growth ambitions, whilst we help create additional cash flow that can be put back to work in the business.

Our No Savings = No Fee policy to clients, emphasizes our commitment to reduce costs to improve cash resources, whilst ensuring our support is self-funding from money that would otherwise be spent on purchases.

Early planning to fully capitalise on potential benefits in the year ahead should be started as soon as possible. So call Chorus on for a free consultation on 0845 8671263 or email info@chorusadvisers.co.uk