As we enter the new year, now is the ideal time for small and medium-sized businesses to reassess and strengthen their financial foundations. With continued economic uncertainty ahead, here's my advice on how to prepare your business effectively. Start with a Financial Health Check Begin by reconciling your balance sheet and ensuring your financial information is current and accurate. This gives you a clear understanding of your starting position and forms the foundation for

Through my work with small and medium-sized enterprises, I've found that lengthy VAT return processes almost always stem from inadequate bookkeeping practices. When financial records lack regular attention and consistency, a number of complications inevitably arise: 1.        Infrequent updates create blind spots. Many businesses that outsource their bookkeeping only update their records quarterly. This creates a significant lag in financial visibility. Bookkeeping should ide

If you're a business owner finding the current climate challenging, know you are not alone. Operating an SME can feel relentless, with uncertainty clouding every decision. SMEs are currently facing several powerful economic headwinds:   Persistent Inflationary Drag:  While the rate of inflation may be easing, the cumulative effect of past price increases is significant. Unlike larger corporations, SMEs lack the bulk purchasing power to fully absorb rising costs across raw mat

Revenue is vanity, profit is sanity, but cash is king – it is an old saying, but one that I believe to be true, as cash flow issues are...

Everyone has seen the damage a recent cyber-attack caused to Marks and Spencer’s profits. Yet, in today’s digital landscape, SMEs are...

Do you own, or know a company that is struggling with any of the issues below? If so, it might be time to consider hiring a Portfolio...

As a portfolio finance director, one of the ways I help my clients is with funding applications. It may seem overwhelming knowing what to...

If you are looking for ways to improve the financial health of your SME in the coming year then my advice as a portfolio finance director...

Small and medium-sized enterprises (SMEs) are the backbone of many economies. However, limited resources and expertise often lead to...

I was recently privileged to be asked to deliver a talk on becoming a portfolio FD by FD Recruit. I have summarised my talk below, and I...

One of the ways I enjoy helping my clients is by setting up systems and processes to help run their SMEs more efficiently and robustly....

A question that I’m often asked is "What is the difference between statutory and management accounts?". Both sets of accounts focus on...

Why is it so important to take the time to set a budget for your SME? Here are the main reasons why I advocate setting a budget is vital...

A core aim of Hale Portfolio is to simplify finance for business owners and I find one of the best ways to do this is to liken a...

Hands up those who can answer the following questions honestly – What is the true cost of making your products? Do you have an idea of...

Under the Company’s Act of 2006, Company Directors are required to maintain accounting records which are used to provide annual accounts....

As we are all too aware, these are challenging times for business owners. We are currently facing the highest rate of inflation for over...

It seems there is an awareness day for most things and bookkeeping is no exception as this week (7-11th November) is “global bookkeeping...

As my business celebrates turning 5 this month, here are 5 things that I’ve learned along the way - 1) Don’t panic that work won’t...

Revenue is vanity, profit is sanity, but cash is king – it is an old saying, but one that I believe to be true, as cashflow issues are...