Finance

8 Key Skills to look for in a Finance Director

8 Key Skills to look for in a Finance Director

At some stage of its life a business must hire an experienced and effective Finance Director (FD). Finance and figures are not easiest skills to learn for all entrepreneurs or non financial managers. Whether you’re the business owner or the CEO, you need a reliable person to run the finances…

Startup funding sources – Bootstrapping

Startup funding sources – Bootstrapping

It’s an apt term for sustaining your business without outside funding. The term bootstrapping originates from a fantastic story I read as a child about ‘The Surprising Adventures of Baron Munchausen” where the Baron pulls himself out of a swamp by his bootstraps. However, wikipedia asserts the term ‘to have originated…

Does money motivate employees? 5 Key Tips to get engagement

Does money motivate employees? 5 Key Tips to get engagement

The short answer is no! For the long answer, keep on reading and it still gets to a no! There have been tons of surveys, polls and studies made by Gallup to psychologists and behavioural scientists over the years to try to answer this question. The answers are always mixed…

Alternative funding sources for Business – Invoice Factoring

Alternative funding sources for Business – Invoice Factoring

Invoice factoring is a fast way to raise cash by ‘selling’ your invoices to a large factoring company for a fee and who then collect the debts from your customers. It’s different from invoice discounting since the whole credit control function is carried out by the factoring company. It is usually…

Virtues of having a part time Finance Director

Virtues of having a part time Finance Director

Do you really need a full-time FD for your business, even if you can afford one? With all the technology and resources available today, small to medium-sized businesses can easily handle the day-to-day financial management by using cloud based accounting systems and experienced book keepers and accountants. With the daily…

Crowdfunding – is it the answer to Startup funding?

Crowdfunding – is it the answer to Startup funding?

Crowdfunding is the new phenomenon of funding for startups and is growing fast. Crowdfunding is online funding through web sites that enables you to describe your business idea and raise money from a crowd of small investors. Some better known sites are Kickstarter , Indiegogo, Crowdcube, Seedrs with many more proliferating.…

Alternative funding sources for Business – Invoice discounting

Alternative funding sources for Business – Invoice discounting

Invoice discounting is a simple and fast way of raising working capital. It allows you to raise cash up to 85% of your invoice values soon as you bill them to customers and is popular for larger businesses with typically over £1m annual turnover. There are many advantages to this…

Alternative sources of funding for Business – Lease financing

Alternative sources of funding for Business – Lease financing

Leasing is a great alternative to funding your business expansion or equipment replacement programme. Several factors can determine the decision whether to lease or buy and leasing can bring several advantages, which I outline below. 1.  Preserves cash and spreads the cost of equipment over time, usually 3-5 years 2.…

Off Balance Sheet financing – what does it mean?

Off Balance Sheet financing – what does it mean?

It’s a form of financing used to fund assets that do not have to be shown in the balance sheet. And the next question, is why? Well, the nature of the financing is such that the total liability doesn’t have to be recorded on the balance sheet thereby making the…

5 Signs that you have to hire a Finance Director/CFO

5 Signs that you have to hire a Finance Director/CFO

An experienced finance director can add significant value to your business from day one and help maximise the value of your business. Lack of financial management can destroy a company pretty fast, however good the product or service is. Here are 5 critical signs that you need to hire a…