While charities and PLCs formally assess business risks, many owner-managed enterprises fail to follow suit. One reason is that sole traders and partnerships don’t have external stakeholders who require risk assessment. Another is that SME owners believe that the only...
Elliot Harris
How to keep your business on the road
What do we look for when we consider the risk of financial distress? A recent review of a sample of ten companies showing signs of being "at risk of financial distress" found five had an "emphasis of matter" in their auditor's report, and the other five had one or...
Plotting the right strategic course
At every networking event I attend, I learn something. Whether by talking to another business owner or listening to a guest speaker, there are always takeaways to use myself or share with a client. Recently, a speaker started banging on about EEE - an acronym for...
How to rate your accountant
A 31 March year-end is popular. But this may mean your auditor and accountant are squeezing your work into their busiest time of year, with a resultant loss of focus on your business affairs. Review whether you need your work done at a time of the year when the team...
When a business collapses do you always heed the lessons?
When business people see the increasing number of articles coming out about the collapse of businesses in the public eye, there is a temptation to think that it is solely a result of them growing too big and too fast. However, like the collapse of any business, there...
2023 and Beyond. How can a business plan
If you are a small or medium-sized enterprise, as we approach the end of the Annus Horribilis that was 2022 and try and look forward to 2023 the future holds lots of uncertainties. We are on our 3rd Prime Minister this year, we see no end to the war in Ukraine and its...
Mergers, another option for your business?
We talk frequently about the acquisition and disposals of business as part of your business strategy, but we speak less often about mergers because they are seen all too frequently as takeovers, but does it need to be that way? Of course, not all mergers work, and the...
Understanding your finances
This is article 3 in our series of 3 There are 3 layers of understanding that you have to achieve, and I will be covering these in 3 articles covering: Some basic tipsWhat are the key figures in your accounts?Digging deeper with good analysis Digging deeper with good...
Understanding your Finances
This is article 2 in our series of 3 There are 3 layers of understanding that you have to achieve, and I will be covering these in 3 articles covering: Some basic tipsWhat are the key figures in your accounts?Digging deeper with good analysis What are the key figures...