Business Debt Solutions Business Recovery

Business recovery.  Put your business back on top

Start your journey towards building a successful business.  There are few things more rewarding than seeing your business develop and grow, watch it acquire value-so that it gives you and your loved ones the life style and rewards you aspire to but few things  more frustrating than seeing it failing, unable to pay overheads, having to shed staff or not able to pay suppliers

Pillars of a successful business

Profitable   Growing  Solvent

A failing business is a stressful business

Typical reasons for business failure

What is a solvent business?

A solvent business is simply one which can pay its debts and liabilities as and when they fall due.                                            Accountants use financial formulae and ratios to measure solvency but the key test is can your business pay its debts on time.

Key business elements

Its a heavy burden juggling all of this every day. It needn't be-we will show you  how to use  simple one page management controls and tools to ease the load.  Put you and your business back in a happy place

My business is too small for fancy strategic plans

Strategic plans? Business recovery plans? Aren't those for big corporate concerns. 
"But I just have a small business employing a few people with a couple of vans and a rented office."
All businesses need management and direction-all need to market their products effectively even if the business is selling sandwiches and coffee from a van-all need to know  who their customers are, what they want or need and how to reach them.
The business disciplines are the same whether you have a small privately owned business or are running a multi-national.
Its just that the multi-national will apply those disciplines on a much bigger scale
We can work with you to put  in place an effective turnaround plan to relaunch your business-a plan that will put your business back on track, which will motive you and your staff.

Your business recovery plan

We can help you put in place straight-forward financial and business plans. Professionally written and designed that you can use to manage your business, present to banks, investors and interested third parties. If you are inexperienced at presenting to third parties or don't feel confident about it we can even do that on your behalf.

Basic Accounts- putting order into your business

Profit and Loss 
If  you are a small business-a sole trader that has run into difficulty you can start to put some order into your situation by simply keeping an excel spread sheet record of all of your income and your expenses-Make sure you give your customers an invoice or bill for your service or product-date it, with the amount charged , VAT if applicable and the details of your business. Give each invoice a reference number. Make a list of each invoice on an excel spreadsheet-with value, reference and date. Add the total each month-that is your monthly sales revenue or income 
Below, do the same for your costs and expenses- for example materials and stock supplied to the business, when it was purchased, value, name of supplier etc. Add the total each month. Take that from your total  income to give your operating profit or loss.
At the end of each financial year or 12 month period you can send the excel spread sheet to an accountant -who will be able to use it to produce a set of professional accounts- a profit & loss and balance sheet.
As your business grows you can purchase a licence to use professional business accounts software such as Sage or Quick books which will prepare your accounts, issue invoices and cash forecasts etc. Your accountant will advise you of suitable software packages available

Sorting out the financial mess

Seems a daunting task  doesn't it-sorting out bills, paying tax,maybe VAT, suppliers and employees as well as winning business and delivering it -A sure sign of a company or business in difficulty is that the accounts and basic financial records are in chaos. When a business is failing, accounts are often not up to date, taxes are not paid on time, payments to suppliers are late.
Up to date accounts are the first step to putting your business back on track-without them you will probably not even know if your business is profitable-and without up to date  accounts you will  have difficulty dealing with 3rd  parties such as banks, HMRC or future creditors.
We can help you to put order into the chaos and start to build a successful, well managed business

Start your journey towards business recovery

Sure, you can start your journey towards business recovery. Take the  first step-give us a call and book a free assessment or simply book your free consultation using our contact form