The start of the financial year is a great time to understand how well your business has performed for the past year and what are your targets for next year.
Running a small to medium business is not so different to flying a plane. Take-off is an adrenaline rush, navigating requires discipline and focus, and a safe landing relies upon foresight and excellent communication.
MSM Milling lacked seniority and trust within their Finance team. They were needing a finance professional to come in and settle the current finance team and tighten up processes.
This is the number of days, on average, that goods for sale are sitting in your storeroom, from when they are delivered by suppliers, to when they are shipped out to customers.
Also called Debtor Days, this is the number of days on average, your customers are taking to pay invoices. Think ‘cash-flow’ with this key number. Managing this number can have a huge impact on cash flow.
Many business owners focus attention on the Overheads in a Profit and Loss (P&L) Statement, but they may not compare them relatively, (by percentage) to the Revenue.
