Gaining Financial Control
Financial management is a critical element in the success of any business and a lack of financial awareness is the root cause of around 50% of SME failures. According to a survey carried out by Cloud Solutions in 2014, 25% of small business owners state that a lack of time and organisation means that they don’t have full control of their accounts.
The issue is that many entrepreneurs have a lot less passion for business accounting than they do for their latest product, service or customer. If maths isn’t your thing, then it’s easy to shy away from the figures, but financial control underpins every other aspect of a business, so it needs to be tackled.
In the Cloud Solutions Survey, 20% of respondents admitted they had forgotten to invoice a customer on at least one occasion. Overall the survey estimated that UK businesses had collectively failed to invoice for work valued at £3.7billion a year. In addition, many invoices that have been sent are outstanding but aren’t being chased.
Poor financial control can result in stressful cash flow problems, leading to deferred payments, lack of investment and fines, which simply escalate the problem.
A Wise Investment
If all this is sounding very familiar, a wise investment is to engage the services of a Virtual Assistant to help you get things back on track. If you are put off by the cost of external support, don’t be; it may only take a couple of hours a month to help you get your finances in order and take that weight off your shoulders.
CC Professional Virtual Assistants can support you with every aspect of your sales and purchase management, including orders and invoicing. We can chase outstanding payments and add notes to your calendar so you don’t miss financial deadlines and accrue fines. We can also set up Excel spreadsheets to organise your business books and liaise with the Accountant. If you have specific bookkeeping requirements, we can provide an experienced bookkeeper who will work with you to create a bespoke solution just for you.
Once we’ve helped you to get your finances in better shape, you will have a clear picture of your current situation. You are then in a strong position to make informed financial plans, to ensure that you have money available when you need it to pay staff, suppliers, rent or for a new purchase.
Make a wise investment; click here to find out how CC Professional can help you take control of your business finances so that your company can go from strength to strength.
Financial management is a critical element in the success of any business and a lack of financial awareness is the root cause of around 50% of SME failures. According to a survey carried out by Cloud Solutions in 2014, 25% of small business owners state that a lack of time and organisation means that they don’t have full control of their accounts.
The issue is that many entrepreneurs have a lot less passion for business accounting than they do for their latest product, service or customer. If maths isn’t your thing, then it’s easy to shy away from the figures, but financial control underpins every other aspect of a business, so it needs to be tackled.
In the Cloud Solutions Survey, 20% of respondents admitted they had forgotten to invoice a customer on at least one occasion. Overall the survey estimated that UK businesses had collectively failed to invoice for work valued at £3.7billion a year. In addition, many invoices that have been sent are outstanding but aren’t being chased.
Poor financial control can result in stressful cash flow problems, leading to deferred payments, lack of investment and fines, which simply escalate the problem.
A Wise Investment
If all this is sounding very familiar, a wise investment is to engage the services of a Virtual Assistant to help you get things back on track. If you are put off by the cost of external support, don’t be; it may only take a couple of hours a month to help you get your finances in order and take that weight off your shoulders.
CC Professional Virtual Assistants can support you with every aspect of your sales and purchase management, including orders and invoicing. We can chase outstanding payments and add notes to your calendar so you don’t miss financial deadlines and accrue fines. We can also set up Excel spreadsheets to organise your business books and liaise with the Accountant. If you have specific bookkeeping requirements, we can provide an experienced bookkeeper who will work with you to create a bespoke solution just for you.
Once we’ve helped you to get your finances in better shape, you will have a clear picture of your current situation. You are then in a strong position to make informed financial plans, to ensure that you have money available when you need it to pay staff, suppliers, rent or for a new purchase.
Make a wise investment; click here to find out how CC Professional can help you take control of your business finances so that your company can go from strength to strength.
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