Online News - Firm News - Date: March 2009
Kirk Newsholme working in partnership with Business Link Yorkshire
If your business is facing new challenges in the rapidly changing economic climate, if you’re working hard to protect your business, ensure its survival and be ready for the upturn, or maybe looking to exploit new opportunities and grow your thriving business, we can help. Whatever scenario you are facing, it’s vitally important that you have a robust financial plan in place.
Funded by Yorkshire Forward, and an initiative fully endorsed by the Institute of Chartered Accountants in England and Wales, we can deliver a “financial health check” up to the value of £2,000.
This specifically designed health check will not only give you a comprehensive understanding of your financial situation but also help you understand:
- Your revenue performance
- Your cash flow performance
- The cost of your sales
- Your overhead costs
- Employee issues including organisation, redundancy and training
- The quality of your financial information.
The financial heath check consists of a meeting between you and us, an assessment of the financial circumstances of the business and a report and recommendations for an action plan. The face to face meeting is seen as key the whole scheme because the strategic issues that are identified by the financial review can be explored in greater depth. Two levels of accountancy support have been identified; for smaller businesses the package is worth up to £ 1,000, for more complex businesses, £ 2,000.
To be eligible for the financial health check businesses will:
- Have been trading for more than one year;
- Be sustainable;
- Impact on the local economy/community;
- Need to understand as a matter of urgency how best to focus their energies in the current economic climate and
- Be willing to share the content of the health check with Business Link.
A Business Link advisor works with us to offer additional support, including access to additional expertise and funding where appropriate.
To qualify for the more in-depth health check, companies will be expected to be:
- Over 3 years old with more than 10 employees and/or a turnover per employee greater than £ 60,000 *per annum or
- 1-3 years old with more than five employees and/or a turnover per employee greater than £ 60,000 * per annum.
* In the case of retail and wholesale businesses the turnover per employee should be greater than £ 110,000.
All other eligible businesses will qualify for the lighter health check.
Businesses can work with Kirk Newsholme provided that the report is delivered separately and is distinct from on-going accountancy activities such as annual audit. As accredited members of the Yorkshire Forward Supplier Database we are ideally placed to deliver the health check.
Before any Financial Health checks can be undertaken a Business Link on-Line adviser will carry out an initial telephone review with you. Where it is agreed that a health check is the most appropriate way to help the business, a written confirmation to proceed will be issued within two working days to be signed by us and you. The offer will be valid for one month.
To apply for the financial health check just telephone:
- Mark Templeton on 0113 389 6211
- Neill Rayland on 0113 389 6203
Or
Business Link on 0845 048048 quoting ‘SPR 2726’.
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