Business Infrastructure

The business infrastructure will significantly influence how a business is set up and run. The business owner can choose to be as a sole trader, form a partnership, a limited liability partnership or a limited company. These entities differ in terms of the administration involved. How much of risk is the owner prepared to take with their own personal money and want is the best for tax purposes. What is it the right entity for you? Being a qualified Chartered Management Account with a practising certificate I can ensure you select what is right for your business.

Strategy

For many business owners strategy and planning are four letter words. So why do the terms have such a bad reputation for many? I believe it’s because they are misunderstood or applied wrongly. The words strategy and planning have become such buzzwords in today’s business world their real meanings are easily lost in the confusion around them. Put simply strategy and planning describes how to reach the goals and objectives set for the company.

Putting together a successful strategic business plan requires gathering all relevant information and developing a strategy which is consistently tied to the ongoing operations of the business. With many years’ experience of developing strategic business plans I can guide you to have a strategy in place that will deliver your goals and objectives.

Business Systems

Underlying every business system is the need to keep track of their financial transactions, Bookkeeping, boring. Well no, timely and accurate business records are fundamental to sound financial management. Implementation and use of today’s excellent cloud based software such as Xero, QuickBooks and Sage, a business can ensure the system uses solid accounting principles to provide accurate financial records. This provides the base for information which is critical for the business, the accountant and HMRC requirements. Accurate financial information is the only way to ensure that you know how the business is doing.

The availability of real time data provides the opportunity for on demand management information to run the business. If your current system doesn’t provide this, you have the wrong system. As both a Xero Silver partner and QuickBooks Certified Pro Advisor I am well placed to advise and implement what you need.

Cashflow Management

Today’s cloud base solutions available link seamless with online accounting systems to enhance the benefits providing cost efficient solutions. The apps such as Predict, Advisor or Float can automatically take the data from the accounting software and provide predictive cash flow forecasts.

Having spent over 25 years working and implementing business systems I can recommend and implement the right solution to enable you to make business decisions, rather than spending valuable time just trying to pull together the information.

Business Plan

A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts. A business plan helps you to:

• clarify your business idea
• spot potential problems
• set out your goals
• measure your progress

It can also help to convince customers, suppliers and potential employees to support you. RLJB Business Consulting can provide you with the template and guide you through producing the business plan you need.

Cost Reduction

Many successful businesses never find the time to review their costs and identify savings, even though £1 saved is a £1 of additional profit. It is not until profits and resulting cashflow come under pressure that this area attracts the attention it deserves. By having the right method and by continually monitoring I am always pleasantly surprised that cost savings can always be found. If you would like to find out how I achieved year on year savings get in touch.

Government Grants

Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for R&D tax relief. If you are spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or corporation tax reduction. The scope for identifying R&D is huge – in fact, it exists in every single sector. And if you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods. If you have questions about your eligibility for R&D tax credits, or how much they might be worth to your business, get in touch.