There are many challenges facing start-up businesses and SMEs today. Primarily, these come from external factors that may seem beyond your control, such as changes in legislation, customer demand or supplier contracts. However, with the right help and small business advice, you can be prepared to face these issues when they arise, and even circumvent them altogether.
When it comes down to it, a business, no matter how young or small, thrives on one thing – cash flow. If you’re struggling to keep money coming in, instead of going out, then you could benefit from SME accounting advice and business support. Not only are we able to help you get your accounts receivable in order and straighten out your financial reporting, but DBS Accountants can help you to identify the underlying causes of your business problems.
If you’re just setting out with a business start up, you’re in an even better position to take advantage of some SME accounting advice. You will be able to find problems before they affect your business and cash flow, and even sidestep some major industry challenges.
What can DBS Accountants help my small business with?
Our range of expertise is vast, and we are happy to help business owners and managers with many of the issues they face on a day-to-day basis. Some of the areas in which we can help are:
- Management information systems
- Financial reporting
- Credit accounts and policy
- Cash flow projections and management
- Long term planning and exit strategies
Maintaining a healthy business
There are many ways to improve and safeguard the health of your new venture. A great way to make sure you are on the right track is to invest in cash flow projections. This will help you identify areas of your business which could be improved in order to bolster your receivables and minimise your outgoings.
Another reason you may wish to have a forecast of your business’s revenue potential is to secure investor commitment or bank finance. At DBS Accountants we will be able to help you present your business in the best light, as well as assist you in managing your cash and investment funding to benefit your business’s long term viability.
Once your seed money or ongoing finances are in order, the state of your receivables will need to be addressed. Sometimes a bit of fine-tuning will help you to organise your accounts and credit policy in a much more manageable and transparent way – it could also result in making your debts easier and quicker to satisfy. Instead of letting accounts stagnate and turn into bad debts, you could identify these before they become an issue.
If you’ve already been in business for a while, but things don’t seem to be going your way, talk to DBS Accountants about a turnaround strategy. We can assess your business’s strengths and weaknesses and help you to address them.
There is no business that is too far gone. We can help you to be prepared for market events and creditor/debtor challenges by determining a way forward for your SME. The key is to get proper business support and advice now. If your enterprise is heading for disaster, it doesn’t have to be a one-way road. DBS Accountants can help you to devise and implement a strategy for the long term health of your business, to rejuvenate it and address your cash-flow issues.
If you’re waiting to see how things pan out before getting in touch with an accountant or reaching out for some business support, you could be doing your company more harm than good. Get in touch with DBS Accountants today for an honest look at your finances. We’ll work with you to get your business where it needs to be.