Business Financial Management

 

business financial management discussion with client

Take your Business to the next level!

Let us assist you by being your trusted advisor 

One Stop small business shop!

Your business is your lively hood, it is what you spend most of your time doing and hopefully it is something that you really enjoy, so let us take some of the worry away for you by being your trusted Financial Management adviser on everything from finances, inventory management and much more.

Even if it is just to catch up and go over your thoughts, plans or double check any other business matter.

Some areas we can help you with our Business Financial Management expertise:

Advertising & Marketing

We can help with advertising and marketing on a variety of different levels. No campaign is too big or too small to handle. Anything from creating a website right through to a multi faceted campaign, we have the tools and networks to best cater to your needs. 

General Small Business Advice

Keeping an eye on what your competitors are doing is integral to any small business. We specialize in analyzing industry trends, competitor pricing analysis as well as everything in between. We can do the work so you don’t have to.

Inventory Management

Managing your inventory, is key to every small business as generally a big chunk of your cash is tied up in it. We can help with stock turnover rates, inventory mix analysis as well as assist with stock clearance methods and any other needs you might have.

Competitive Hourly Rates

Our rates are competitive and great value for money, so you will not only save money using us for your bookkeeping but you will also save money at year end with your accountant. Just contact us to find out our current hourly rates.

A Short Guide To Business Financial Management

 

How Can Proper Business Financial Management Benefit You?

Knowing the basics of financial planning is as crucial as learning the language of a country you’re visiting. Knowing a few terms may be fine for a while, but you have to make an effort to know the culture if you’re going to live there for a longer period. The same goes for financial planning: aside from knowing what you need to sell, you should be able to plan out the whole process to be financially successful. Here at Edge Small Business Consulting, we provide thorough and clear plans to help your business reach its financial goals. Struggling with your business? Don’t give up just yet. Contact our business financial planners to see how we can help!

The 6 Steps of Financial Planning

Basic Accounting

The first thing we have to know is the current status of your business. This means having all the financial information needed to know if your business is making enough profit or if it’s declining. A good planner should be able to see red flags and use that information to create new methods to prevent doing the same mistakes.

Aside from checking financial statements, we may also look at special-purpose reports including whether to update existing machines, whether to offer or outsource products and services, etc. Knowing what costs and factors are relevant in making a decision is the difference between a good and a bad decision.

Identifying Profit Centers

After a business financial analyst examines and interprets your business records, the next step is to understand where you generate the most money. Since businesses need profit to keep going and growing, we help decide whether you should continue, decrease, or stop with a revenue stream.

But aside from sales, you can also generate profit by increasing efficiency in production, looking for new markets, and finding different ways to sell. We look at all these areas and see if they’re feasible sources of income for your business.

Managing Cash Flow

Failing to understand cash flow is like leaving your business open to problems. Annual reports don’t tell you when exactly cash comes in and out, and this can cause problems when paying bills or other important expenses.

This is why knowing how to use your budget properly is key to your success. As business financial experts, we expect problems to happen so we try to have as many reserves ready. Having a diverse portfolio lets the demands of newer accounts offset other more regular sources of income.

Leveraging Assets

Assets can act as leverage in two different ways. First, you can use them to secure loans by using them as collateral. Second, if they weren’t acquired by getting a loan, assets can increase the equity of your business. This means additional financing may be raised against that equity if your business is properly structured.

We know how important leveraging your business options is. Most business owners compromise too much on their assets for capital. As business financial advisers, we don’t want you to learn things the hard way, to the point where you need to hand over ownership.

Taxation

Your business won’t survive long without proper tax management. The government can be very unforgiving the moment it finds out that a business paid insufficient taxes or skipped paying their taxes completely. Tax rules don’t leave much room for errors, and a simple mistake can make your business lose money and eventually, go bankrupt.

We know how taxes work and can help you avoid this by keeping an organized list of financial transactions. And as your business financial advisers, we’ll also advise on what your business should do to make sure it always abides by the law.

Future Business Structure

The majority of small businesses start by having one or two owners. But as a business grows, you’ll probably want to restructure so it becomes its own entity and not just your personal source of extra income.

Our team at Edge Small Business Consulting can help you decide what the best next step is for your business. Whether it’s just turning a sole proprietorship into a partnership or becoming a full-blown corporation, we can help you navigate through possible obstacles and even tell you what legal steps you shouldn’t avoid to stay out of trouble.

What is Included in a Business Financial Plan?

This answer will depend on what it’s for. For example, we’ll make a 2-year projection if it’s for your business’ purposes but if you plan to get financing, we’re looking at a 5-year projection.

The Actual Income Statement for the Previous Year

If applicable (won’t apply for startups,) and a projection for the specified period of the plan.

The Actual Cash Flow for the Previous Year

Also applicable, and a projection for the specified period of the plan.

The Balance Sheet

Again an actual if possible, and a projection for the specified period of the plan.

Financial Ratios

These ratios refer to four areas: solvency, efficiency, liquidity ratios, and profitability (including gross profit margin.)

Why Trust Us for Your Business Financial Planning Needs?

Having good bookkeeping services is a way to easily achieve your business goals. If your books are always updated and organized, your business will certainly progress and you can make sound decisions with confidence.

We at Edge Small Business Consulting aren’t just bookkeepers but accountants too! We are a great asset to small businesses, especially in helping you make the right decisions. We’re well-versed when it comes to business financial accounting and can easily identify alternatives for possible financial management scenarios. Our fresh perspectives will help you know the right strategies you should use for your business.

Make an appointment to find out how we can help you with your business financial management!

business financial management results in a plan