They now have the confidence to start planning the next stage of their business..
James and Peter had been running their business for some years and had achieved good sales growth and some sound but inconsistent profits.
They wanted to take the business to the next level and decided to borrow some money to do it. They were concerned about the impact this would have on their profits and cash flow, and knew they would need the assistance of some experienced professionals to guide them through it.
They were referred to Intuity Partners by one of their clients who we had already helped through a similar phase. We met with James and Peter and took the time to really understand their business and their goals and set out a plan of how we could help.
The next step was to prepare some projected profit and loss and cash flows to show them and the bank how the additional working capital would benefit their business and how they would be able to repay the loan. The bank was happy to help.
James and Peter knew that they needed to have a better handle on where their business was at now that it was starting to grow. They had always been confused as to how the profit in the financial statements prepared by their previous accountant after the financial year had ended never seemed to match with how they thought the business was going.
While James and Peter knew everything about the technical aspects of their business, they both admitted that paperwork and bookkeeping wasn’t their strong point. Our bookkeepers took over and ensured that James and Peter had accurate management reports on their desk each month.
With this information, and a meeting with their Intuity Partners accountant each quarter, they felt comfortable that they understood the financial aspects of their business and now had the confidence to start planning for the next stage of their business.
