A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.
The techniques we utilize in the formation of financial projections will allow you to consider future scenarios and give you goals to strive for in your business.
In addition to goal setting value, budgets will often improve your chances of acquiring funding as financers often require forecasts as a prerequisite for funding approval. Cashflow forecasting is a vital part of ensuring your business will always have the cash it needs, because profits don't pay bills - cash does.
There are many types of budgets and we can help you design the right budget for your needs and requirements. Let us show you how a budget and a cashflow forecast are able to provide feedback to allow you to prepare for the future of your business.
Have you ever wondered how your business performs compared to your competitors? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high? What is the average bottom line of your competitors?
Survival in today's business climate requires you to spend more time working on your business rather than in the business.
We can provide you with accurate, timely and informative benchmarking reports - allowing you to:
See how your business compares against your competitors
Understand how the rest of your industry works
Analyse the key performance indicators of your industry
Armed with this information, we'll work with you to develop action strategies to improve your bottom line.
Business start-up Advice
Let us help you turn your business idea into a reality.
If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:
Decide on the most suitable structure for your business - sole trader, partnership, or limited company
Prepare a business plan, cashflow projections, budgets, and trading forecasts
Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
Establish a good working relationship with your bank
Complete any registration procedures with Companies Office, Inland Revenue, or Customs and Excise
Deal with company administration issues
Set up a recording system for your internal use and for complying with statutory requirements
A wide range of financing options exist, all with their pros and cons. At ICL Chartered Accountants we know the financial market, and have the experience to assist you in securing the best financing option for your personal and business goals. Our experience in the market means we are also able to structure debt upon acquisition to maximise tax advantages.
Let our experienced team explore with you the best financing options to get your business closer to its goals.
Forming a company and ensuring all the appropriate documentation and registrations are completed can seem a complex task. At ICL Chartered Accountants, we are able to assist by ensuring that when your company is formed, all required documentation is completed quickly and accurately, and is able to satisfy all statutory requirements.
Administering your payroll can be time-consuming and divert you from your core business activities. Added to this, payroll and employment legislation are growing increasingly complex.
We can relieve you of this burden by providing a comprehensive, confidential payroll service that includes:
Administration of PAYE, statutory sick pay, and annual leave
IR-filing to the IRD
Summaries and analyses of staff costs
Administration of incentive schemes, bonuses, and termination payments
Even if you only have a few employees, you will save by engaging us to administer your payroll.
Here at ICL Chartered Accountants we understand the day to day office duties are not everyone's cup of tea. To this end we are happy to help out with some or all of the following services:
Payment and processing of creditors
Collection and banking of debtors
Various secretarial tasks
Training in Office duties
We are able to visit you at your business location to provide any of the above services if required.
The pressures of daily business can often mean strategic planning takes a back seat, but to have a successful business, it is vital toplan ahead. We'll help you establish a strategic plan that examines where you want your business to be in the next 3-5 years and exactly how you and your team can achieve these aims and objectives.
Your strategic plan will:
Define the characteristics of your company in three to five years
Identify your competitors
Define your objectives and financial goals
Include an effective implementation strategy to achieve your goals