When a business starts to take off, growth can happen almost overnight. A larger business needs to be run differently. Financial control becomes even more critical and without controls in place, it is very easy to lose track of where you are and that’s when things can start to go wrong.
If you want to find out how ESP can help you take control of your cash flow and grow your business, call us now on
01476 862 172
When we first met Event Engineering in 2009, they were in a similar position and loosing track had cost them a serious amount of money. The business was growing rapidly, they had no financial controls in place and their existing ac-countant wasn’t able to keep on top of things.
The first thing we did was to ensure that the basics were right and that they never had to pay a fine to HMRC again. Very quickly after this we started pro-ducing monthly management accounts and regularly sitting with the directors to review business performance, costs, income and margins.
From these regular performance reviews we identified key areas of focus, as a result the business is now seven times bigger in terms of sales and ten times bigger in terms of profit.
We still review the numbers monthly, but now we also have monthly board meetings where we discuss the important strategic issues and actions for the business, where the business wants to go and twice a year we hold full strategy & planning days, to formulate the steps to continue the success.