2. Conservative Government plans for SMEs
The Government recognises the importance of
SMEs to UK Economy:
Introduction of ‘Small Business Bill’ which contains
a number of pledges to support business owners,
including:
Ban on income tax, VAT and NI raises for five years
No income tax for those working 30 hours a week
on minimum wage
Reduce regulation for small business
Increase access to finance
Tackling late payment abuse
3. Conservative Government plans for SMEs
Appointment of Anna Soubry to newly named
role of Minister for Small Business
“This is a big win for the FSB as we have long been
pushing for a dedicated voice at the heart of
government who could robustly advocate for the
UK’s 5.2m smaller firms.”
Mike Cherry, Policy Director, Federation of Small Business
4. How financially stable is your business?
It can be difficult to gauge the financial stability of a business but there
are some warning signs to look for.
How many of these signs are you aware of within your business?
A hard-core of debt, which never seems to reduce?
The need to purchase goods on a proforma basis?
Difficulty in meeting your monthly/quarterly commitments to PAYE, NI and VAT and
the ensuing fines and penalties?
Inability to get accurate and timely financial performance data?
Unsure which products and services make you money?
County Court Judgments (CCJs), notice of impending legal action, late payment
complaints resulting in breaches of your business credit limits?
Nobody to turn to to bounce the financial impact of ideas off
Constant battle to keep cash balances positive
5. Our advice
EFM’s team of experts can help identify issues before they become a problem:
Our comprehensive Financial Healthcheck offers:
A review of the efficiency of your business for early detection of possible
cash leaks which could lead to declining profits.
Impartial advice from our experts about your true financial situation, alerting
you to areas that need urgent attention.
A bespoke approach which focuses on unique performance indicators needing
urgent attention whilst also targeting standard principles.
For a comprehensive diagnostic we will address:
Documentation/ Recording: Bookkeeping Procedures, Accounting Systems & Deadlines
Planning: Budgeting, Forecasting, Funding Sources, Funding Use & Strategic Direction
Financial reporting: Management Reporting & Statutory Obligations
Controls: Reconciliations, Security, Backup Systems, Fraud Prevention
Resource & Employment Model: Tasks, Support, Reward Systems & Leadership
Observations & recommendations: Highlighting opportunities that can
be exploited or improved to reduce your financial risk
6. Contact us
Our comprehensive, impartial and no commitment service is a
great start towards effective financial management.
To arrange a free consultancy contact:
EFM Financial Management Limited
AW House
6-8 Stuart Street
Luton
Beds LU1 2SJ
Tel: 01582 516300 or 0845 129 9900
Email: efm@efm-network.com
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