How many people starting up their own business, running an established business, or even taking over a long established business, have a head for numbers? Let’s be honest, accountancy and tax tend to send people to sleep. Others make jokes about grey suits and uninteresting personalities. Yet the mere mention of financial forecasts can give some business owners a panic attack, and who do they turn to for help?!
The cornerstone of any good business (apart from a good product or excellent service etc.!) is stable finances. How many business people know that a profitable company can run out of money or the business mantra: Cash is king? Professionals can steer a business owner in the right direction and help educate them. And it’s not just about paying the right tax. Let’s face it, business owners don’t need to know how to fill in a tax return or complete a statutory set of accounts, but they do need to know key indicators in their business and keep track of them – and most of these are financial indicators.
The trick is knowing when and how to get the right professional to advise the business owner.
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