Growing your business requires setting realistic, yet aggressive goals and a commitment to taking the steps required to meet the necessary targets to reach those goals. We will work with you to draw up a Benchmark Review of how you are doing now and devise a Growth Action Plan to set targets and goals and lay out the steps required to achieve the growth you desire for your business.
Your Business plan should be a living road map to success, not just a onetime document. Its aim is to assist you in thinking about all of the elements involved in your operations, support the raising of funds, communicate internally and externally, measure progress and steer your business. At RDA Accountants we have many years’ experience in creating dynamic and effective business plans which clients use and refer to throughout the life of their business activities.
Profit & Cashflow Forecasts are important tools for business owners to plan and understand how their business operates. They are also increasingly requested by banks and other financers to give an overview on the company’s position. RDA Accountants can assist you in preparing these documents and in getting inside your business to fully understand how the flow of cash operates. We can also make recommendations to improve your cashflow and profitability, based on our activities.
RDA Accountants can complete a full review of operations at every level of your business. We will then provide you with a comprehensive report which details our recommendations on how improvements can be made and also highlighting the areas which are performing well. It will also uncover areas within the business which are a drain on resources and need to be changed or discontinued. Using this information will allow you to concentrate management efforts and improve overall profitability.
Regular Management Accounts are vital in controlling any business, as they provide the owners with up to date information on the performance of the operation. The Management Accounts may influence a significant decision, so it is imperative that these figures are both timely and reliable. RDA Accountants has extensive experience in preparing Management Accounts, either on the clients own systems or using our own. These can be prepared monthly, quarterly or at intervals which suit your needs, and discussed with you to monitor the results and identify key issues for your business, as they arise.
Many businesses, big and small, may be faced with situations where they have to negotiate revised terms and conditions with their banks. Effective and timely restructuring may be critical to generating cash flow and ultimate survival e.g. you may need to revert to interest only repayments for a duration or revised hire purchase repayments. We have vast and diversified experience in dealing and negotiating with all financial institutions and are here to help you in this regard. Remember it is vital to act sooner rather than later.
Many clients decide to change to a computerised accounts package or move from a manual payroll system to a payroll package. There are many software packages available and each will suits different requirements and size of operations. RDA Accountants can assess your needs and advise on the most suitable and cost effective software solution for your business.
We can also set this up for you and provide training for your staff in operating the system, should you require it. We can also offer on-going reviews of your new system to ensure it is running efficiently.
We can advise on a range of fund raising options including bank or working capital finance, loan stock, and third party non-equity investors. Our network of contacts will help secure the right finance package. Businesses should give themselves the best chance of success by obtaining professional advice. RDA Accountants has considerable experience in this area and we base our advice on sound projections. We establish both how, and over what period funds will be utilised and where specialist advice is necessary, such as for obtaining grants or venture capital.
Start Up & Incorporation
We can help with all aspects of starting up in business and a key decision is whether or not to incorporate the business. Although the current tax structure favours incorporation, it is not the best route for everyone. RDA Accountants can advise business owners on the best course of action according to their individual circumstances.
Company law is now quite complex and the statutory duties of company directors and secretaries are onerous. Due to our several years of practical experience in this area we can advise on all aspects of company secretarial matters and, indeed, carry out the work for you in a timely and efficient manner, deal with the completion and filing of all statutory returns and forms and help ensure that your legal obligations are met in full.