To keep your business on track you need to have a Budget. It is critical for business people to set financial targets and to measure business performance. Without budgets running a business can be a bit of hit and miss. A well laid-out Budget will also improve your ability to acquire funding.
Cash is King! Don’t get caught short! Cashflow Forecasting compliments accurate budgeting perfectly. Giving you the ability to identify whether you will be able to pay your expenses for the month,as well determine if you are holding too much inventory or if and when you can afford to expand. Cashflow forecasting is a powerful management tool.
So where to from here?
Waterford Accountants can work with you to develop financial projections based on your current needs and future goals. With this information you will then be able to anticipate and address significant expenses and develop strategies to positively impact your bottomline, obtain finance approval for new projects, plan for new acquisition or growth strategies and plan for dividend funding.