Financial Management for SME's

Congratulations! You have turned your idea into a business. You have a plan for the business today and how it will develop in future. You may even have had a few years of business experience behind you, but, whether you are a start-up or an established business there are still a number of considerations anyone managing business finances should know about.  

We at Scirum have therefore put together a series of financial blog posts that will give you some of these basic tips and tricks of the trade. Of course, if you need any more detailed information and help, just give us a call on 01264 860060.

       1.       Financial & Management Accounting – what is the difference? Why do I need it? (Click here)

       2.       Record-keeping - Record your income and expenditure (Click here)

       3.       Cash control – Develop good cash management practices (to be published)

       4.       Planning – Make a budget (to be published)

       5.       Processes – Determine how you are going to organise your office (to be published)

       6.       Controlling – Controls for when you have other people working for you (to be published)

The best advice we can give you is not to ignore your finances.  You may have some of the skills necessary to keep track of your income and outgoings and you may even decide to do your own tax computation at the end of the financial year when HMRC deadlines approach but you should always consider the following:

1.       How much time do you spend doing your finances? Could you spend it more wisely by networking and selling your products?

2.       Do you know what value an external view and some experienced hands can bring to your business? Have you tried it?

At Scirum, we have a dedicated team who take care of our clients' social media planning and digital presence. If you are thinking about increasing your social media activity, why not give us a call (01264 860060) or email us?

Mary Proctor, Commercial Financial Controller, Scirum Ltd.

For more useful tips and answers to common questions from SMEs, visit www.scirum.biz or follow us on Twitter and Google+, like us on Facebook or join our LinkedIn group.