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Financial Planning

Balance sheets: the basics Balance sheets show a business’ assets and liabilities and can help you assess a business’ financial health

Budgeting and business planning Why business planning and budgeting are important and how to include them in the daily running of your business

Financial and management accounts: the basics How to file financial accounts, understand types of management accounting and use analytical accounting tools

Set up a basic record-keeping system What you need to record and for how long, with step-by-step guidance on setting up your own system

Set up a simple profit and loss account for your business The financial records you need to keep in order to report your profit or loss

Cashflow management: the basics Neglect your cashflow and you risk insolvency – this guide takes you through the essential rules you need to follow

Identify potential cashflow problems Find out how to use cashflow forecasts and business plans to avoid financial problems

Managing a business during a recession Run your businesses more effectively when economic conditions are tough or unpredictable

Investment appraisal techniques Techniques for assessing potential investments and key factors to consider

Advice for seasonal businesses How seasonal businesses can plan their cashflow, staff and stock levels and other activities

Avoid the problems of overtrading How expanding businesses can match production and order cycles using gearing, working capital or quick ratio tests

Manage your suppliers How to get the most from your suppliers

Invoicing and payment terms How to devise payment terms and an invoicing system to maintain a healthy cashflow

Assess the health of your business Use our interactive tool to assess how well your business is currently performing

Source: UK Business Link. 2009. Practical advice for business. Retrieved July 16th, 2009 from http://www.businesslink.gov.uk/bdotg/action/layer?r.l1=1073858790&r.l3=1073924763&topicId=1073858944&r.lc=en&r.t=RESOURCES&r.i=1073791120&r.l2=1073858944&r.s=m

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