As a business owner, there is a lot to think about – and sometimes the day-to-day running of your business can take your focus away from that all-important task of growing your business.
The risks of not growing your business are significant. For example:
- Your earnings will stay the same (or possibly even reduce)
- You won’t be able to pay your employees more – and may lose them
- You’ll limit the potential of your employees
- You won’t be able to create additional jobs
- Your competition will grow and overtake you
At Maple Wharf, we help businesses to grow. There are many ways in which we can help and we have a variety of tools at our disposal.
Business Health Check
To help you understand which of our advisory services would be most helpful to you, we perform a business health check. This is a review of your business finances, which will highlight where your business is in good shape and where there are any areas for improvement.
If you would like to discuss a health check for your business, please get in touch.
Business Planning
Our Business Planning service comprises Business Planning and Forecasting and Tax Planning.
Business Planning and Forecasting
Our Business Planning and Forecasting service will create business plans, budgets and forecasts to help you grow your business. We will first determine with you your short-term and long-term financial goals. With this information, we will draw up a plan and a corresponding budget and forecasts to help you reach your targets.
Tax Planning
Our Tax Planning service is designed to help minimise your tax liability. We take into account all the ways you can achieve this – for example, deductions, exemptions, concessions, rebates and available allowances. Reducing your tax bill will free up more funds to invest into growing your business.
Benchmarking
Our Benchmarking service will compare the performance of your business with that of other companies in the same industry to:
- Pinpoint where cost savings can be made
- Highlight opportunities for improvement
- Identify techniques that could be applied to your business to help you work smarter
We will take the time to understand what you want to achieve from a benchmarking exercise, collect all relevant data and document existing processes, and identify suitable benchmarking partners. You will then receive a detailed report of our findings. Our clients who are serious about growing their business find benchmarking a useful starting point.
Automation by Cloud Software
One of the best ways to help your business expand is by working smarter. Working in the cloud saves you time and money on the day-to-day running of your business.
Cloud accounting software has been around for a while now and has increased the efficiency of practices many times over, as it:
- Gives you access to your figures in real time at any time and from anywhere (with an internet connection) – so you know you are always working with the most up-to-date set of figures
- Automates a lot of previously manual tasks
- Reduces errors associated with manual data entry
- Helps you share information more easily with your team
- Is backed up automatically in the cloud
There are different systems to choose from and each varies slightly. Three of our favourites are:
- Xero
- QuickBooks Online
- Hubdoc
To read more about these cloud accounting options, click here. If you would like help choosing the right cloud accounting solution for you or wish to discuss any other of our business advisory services, please get in touch.
