Let’s be honest, bookkeeping isn’t exactly the word that sets your heart racing. But if you're a business owner, especially a small business working towards scaling, understanding what bookkeeping could be the difference between running your business and really achieving what you set out to do. So, let’s strip it back, what is bookkeeping, and why is it such a big deal?
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