Contributed by: Dan White, Technology, Innovation and Growth Specialist & Director of Business Services at Bishop Fleming Chartered Accountants
An expanding business is a sign of success but there are risks that come with growth if business planning and forecasting is not undertaken at the appropriate moments.
One of the challenges that faces a growing business is staying on top of its cash flow.
During the T4S SME Live Summit we’ll be talking about why it’s important to understand what the long and short term impacts of raising different types of finance has on your cash flow and how it might impact on your long term goals for the business.
When it comes to understanding your financing options, it’s important to note these three points:
- Have a business plan that incorporates financial forecasting
- Regularly revisit your plan and forecasts and record how you are doing. Update as the business evolves
- Ensure that you are aware of all funding options for your business and how each impacts your business differently.
Bishop Fleming are a dynamic UK accountancy and finance firm who can provide a comprehensive range of services across a wide range of sectors and businesses.
We are looking forward to sharing our expertise and highlighting financing options which can be valuable tools for a business at the T4S SME Live Summit. We hope you can join us, book your place here: bit.ly/T4S_SME_Live_Summit