Whatever your talents as an entrepreneur, there is no guarantee that you will have the financial skills to meet the current needs of your company or the challenges of growth. A financial expert provides services that are every bit as specialised as a legal firm. In many ways, the service has greater value because it contributes not only to the big picture but to the intricate detail of the daily conduct of business. There are many very good reasons to appoint a financial expert and here are just five of them.
1-Professional Skills
The financial obligations of a company can be onerous and time-consuming. Trying to implement and monitor internal accounting processes, evaluating costs of sale and conducting budgetary reviews are just a few examples of important tasks which could easily consume your time and distract you from core activities. Appointing a professional who can fulfil these roles more effectively will save you time and money.
2-Planning
The aim of every business is growth, but this requires planning. It is all too easy for the business owner to overestimate the growth capacity of the company and risk over-reaching. Equally, unwarranted caution can hold you back. A financial advisor in possession of all the facts and with the insight to make an accurate assessment of the company’s financial position and prospects can provide the clarity and confidence needed to catalyse a successful expansion programme.
3-Investment and Asset Management
Capital is the lifeblood of business. However impressive your employees, your IP, your customer base and your marketing, without constant access to both working and investment capital your growth may be hampered and your profitability impeded. A professional financial expert has the skills to diversify your business assets with the aim of yielding greater long-term returns and lowering the risks of individual investments. They can also track the availability of preferential loan facilities and find lower-cost means to support the funding of cash flow.
4-Cost Savings
Every company can benefit from efficiency savings but conducting an effective, wide-ranging review requires someone expert in distinguishing between vital and discretionary expenditure, who has the freedom and knowledge to look at every financial pressure and eliminate those which are non-essential.
5-Compliance
Tax planning and minimisation of liability can be highly beneficial, while the administrative obligations involved in VAT, NI, PAYE and corporation tax are matters best delegated to an expert.
Neon Accounting can provide all the services of a professional financial expert at a fraction of the cost of a full-time appointment. Please explore our site and call us to find out how we can make a world of difference to your business.