Begbies Traynor are one of the U.K.’s biggest insolvency practitioners. They produce a “Red Flag” Report on the health of UK businesses on a regular basis. I’ve added below a link to their report of 24th January 2023 the contents of which make concerning reading for U.K. business owners. The opening line of Begbies report states :- 610,405 businesses across the U.K. in “significant” financial distress. […]
CASH FLOW PRESSURES 2023 Ep. 1
The subject of addressing cash flow pressures is going to be an increasingly hot topic among SME owners across the coming months. Accordingly, I intend to shine a spotlight on some specific cash flow related issues over the months ahead. I plan to do this by sharing with you some “cash flow pressures” related reports and articles coming through the media, give you my thoughts […]
Wisdom From Jay Abraham
A couple of evenings ago I was watching a short Jay Abraham video. Watching Jay’s videos is a fairly frequent activity for me. I rate Jay’s advice on business strategy and marketing as “ as good as it gets “. Here are a few takeaways from that short video that I thought I would share with you :- Maximising business performance involves geometric layering of […]
Carillion – How to fix the “ Hole “ in Cash Flow ?
Various media sources are estimating the number of sub contractors who may suffer bad debts and a cash flow hit as a follow on from the Carillion liquidation in the range of 20,000 to 30,000 businesses. It is very clear that sub contractors anywhere in the Carillion supply chain will need to manage their cash flow very closely and very carefully over the months ahead. […]
Which Stage Describes Your Business ?
I’ve been working with independent businesses and their owners for over forty years and from what I’ve observed in that time it seems to me that for the majority of independent business owners their business life can be summarised into the following stages :- STAGE 1 – THE START UP New businesses are started for a variety of reasons but fundamentally I think the decision […]
Most Businesses Are Too Small
Here’s something that we strongly believe – Most independent businesses are too small !!! *Too small to allow the owner to work ON the business rather than IN the business *Too small to give the owner the lifestyle he/she desires *Too small to allow the owner to transform his/her personal wealth over the next few years *Too small to attract and afford quality management to […]
Knowing the Numbers in Your Business
Today, I want to talk to you about……….. ” Knowing and Understanding your Numbers ” ………. if you think of your BUSINESS as a GOLF TOURNAMENT then I think your PROFIT AND LOSS ACCOUNT would be your scorecard. Think of the numbers as the way we keep score in business. As management guru Peter Drucker said, “ whats measured improves “. If the numbers are we […]
Improve Profitability through One Page Profit Reports
Even in the best of times a prudent business owner will be seeking ways to improve profitability. There is always work to be done in the constant quest to improve profits….. Can sales volumes be increased ? What else can we offer to existing customers who know and trust us ? How can we identify opportunities for cost savings ? How effective is our marketing […]
Three Financial Alarm Bells You Can’t Afford to Ignore
Here are………. Three Financial Alarm Bells You Can’t Afford to Ignore if you want to improve profitability in your business. Lack of Regular Reports of Key Business Costs and Sales…………..If you are serious about increasing your profits and making more money you have got to know how your biggest and most volatile business costs are running on a regular basis. To control and minimise these […]