During these difficult and uncertain times, it can be challenging to make decisions that truly count for your business.
Many owners are struggling to navigate the complexities of tax and legislative change while dealing with the crisis created by inflation and changing consumer expectations.
So how do you make effective decisions, quickly and effectively?
For many businesses, the answer is to have a trusted adviser, who can help you make proactive decisions by giving you a clearer picture of your finances.
Knowledge is power
No one can tell what the future will hold and there is no crystal ball to help guide you. That is why businesses must rely on the information and intelligence that they can accrue and analyse from their accounts.
Data and knowledge can empower businesses to do incredible things, but only if they are acquired in the right way and used effectively.
The first stage of improving your business intelligence is having the best systems and software in place to keep you informed.
While business owners may once have had to wait for the end of each month or quarter to receive the information they need, automation and cloud accounting has revolutionised the way that many businesses function.
These critical tools have not only helped businesses to remain compliant, but they have also given hundreds of thousands of organisations access to their accounts and figures in real-time.
This means that business leaders can make decisions on their finances, as and when things change.
Many business owners are also choosing to invest in additional forecasting and management accounting so that they have a clearer picture of their cash flow, sales, spending and more.
These two approaches are helping many businesses become more resilient while opening up new business opportunities.
While information is important the real value from an accountant comes in the advice they can offer. It really pays to sit down regularly with an adviser, to go over this data and information to build a more concrete plan for future growth.
This includes wealth management, corporate and personal tax planning and the creation of a clear but flexible business Action Plan.
At Lamont Pridmore, we focus on helping business owners create strategies that truly add value to their lives.
In fact, we can quantify that on average, our clients receive three times the value of the fees we charge.
Want to save time and money, open up incredible opportunities or spot the signs of impending danger? Speak to us to us today – it could be the best next decision you make.
Tel: 0800 234 6978 or email [email protected]
Lamont Pridmore is a Cumbria-wide firm of Chartered Accountants, Tax and Business Advisers. The firm has been supporting businesses in Cumbria for more than a century and has won multiple national awards for the service it provides and the value it adds.