It’s cold, damp and foggy out there – and snow may be on the way, if it hasn’t already arrived. Fear not, Halbert Accountancy is here to inject a little sunshine and warmth in to the winter landscape.
Weather-wise, the first three months of a new year can be unpredictable and, as such, sometimes we can feel uncertain how to approach each day or week. Business wise, this same period – the last three months of the financial year – also potentially presents a myriad of challenges that have to be addressed. The crucial difference is, in business, we really do need a sound, reliable plan.
Unsurprisingly and perhaps as a result of the ever changing conditions, it’s this time of year when weather forecasters and news reporters seem to get a tad over excitable. Typically this is most in evidence at any sign of snow in the offing, which, if more than an inch is expected, puts them in a dizzy tizzy and leads to dire predictions of a road network melt-down and warnings of a multitude of other unavoidable perils. That isn’t to say that we should ignore the advice we’re given, but a step back from the circus-like melee, allowing a comprehensive and thoughtful overview of things and the application of a rational plan of action, would surely be helpful. For example, consider the very real possibility that, less than a week after the winter apocalypse has been announced, terrified citizens may emerge from their hurried hibernation behind locked doors and sandbags, to report the first daffodil appearing in the garden. Then we are told that spring has come remarkably early and – perpetuating the confusion – it’s a sign of global warming and potentially an environmental disaster.
If we are inclined to adopt a temporary fix for each change in the weather, lurching from dealing with one impending disaster to fending off the next, constantly shifting our response: we’ll find before long that we don’t know where we are, what’s going to happen next or how best to cope over the next two-three months.
Most of us will muddle through, even if we only succeed by ignoring the vagaries of the season. Some will disappear over the horizon for a winter break. However, a business owner has to deal with the demands of this time of year a little more robustly. Shutting up shop and huddling round a fire or opting out by flying off to warmer climes for a few weeks, are usually not options that present themselves.
For many business owners this period is the last quarter of the financial year and a time when finances need to be put in order and important decisions made about the next year’s trading. For some, particularly if the indulgent whims of the festive season spilled over a little and extra money was spent on or taken from the business in November and December, it might be that there’s a need just now to tighten belts a little. That doesn’t have to be viewed as a cataclysmic, short term peril. Unlike the knee-jerk, day-to-day reactions that may leave us often failing to plan ahead adequately for the weather, business decisions need careful management and rigorous, forward thinking financial planning. To save on costs in the last three months of the financial year, you may want to examine ways in which you can slim down on overheads without detrimentally affecting the long term sustainability of market share or growth, viewing any cutbacks in relation to mid and long term planning.
It’s in offering a well-managed overhaul of your accounts in tandem with establishing reliable future structures for financial planning that the Platinum Package from Halbert Accountancy, and in particularly our Interim Finance Director Service, can be of huge benefit to your business.
We can work alongside your existing accountant to fully review and recommend financial strategies that ensure the end of year figures don’t bury you under an avalanche of unforeseen costs and, at the same time, establish sensible, clear cash flow predictions and budget setting that will help your business bloom through the forthcoming spring and summer… and beyond.
Our Financial Director Service is for those businesses that recognise that a full and in depth management of their accounts will benefit them.
Whether for a short, fixed term contract that sees you through the changeover in the financial calendar, or a longer term ongoing service: having an independent Financial Director on hand will help you to better understand how your money can work effectively for you. Thoroughly assessing both current and future demands on your business, accurately predicating turnover, profits and how to efficiently manage the cost of any loans you may be considering, all feeds in to defining a solid and reliable strategy. Some might sat that, like the very best organic fertiliser that good gardeners will have added in the autumn, Finance Director support will underpin the growth you seek and make it much more likely that, before too long and after the snows have gone, everything will be coming up roses.
Keep your business warm this winter by working with Halbert Accountancy to significantly reduce the potential pitfalls of the season’s unpredictability