In this week’s blog we are talking about financial things to have in place before you begin to scale. Firstly processes, processes, processes – I cannot emphasis enough how having processes across all of your business will help make the scaling journey more straightforward for you.
Rapid expansion can lead to unexpected overheads, delayed client payments, and higher tax liabilities, which can jeopardise your financial stability. We provide actionable strategies to maintain a healthy cash flow, including forecasting 6–12 months ahead, improving payment terms, and controlling expenditures. These insights will help you navigate your growth journey without falling into cash flow traps.
So, anyone that knows me knows I’m a huge fan of this. Waiting until the year end or worse after the event to consider tax planning – it's just too late
Hiring a new employee is an exciting and daunting time. When you are looking at what it will cost you it’s important to look at the full cost of employment (which will include taxes, pensions, benefits) not just the salary.