Budgeting & Forecasting
Budgeting is essential, especially for a new or growing operation in the UK. It will give you a feel for what the revenue of your UK business may look like, and the associated costs. Many of our clients are funded by their parent company during the early years whilst they work to acquire market share, so having a budget for the financial year ahead will provide clarity to the financial position of your subsidiary or establishment.
Cash Flow Forecasting
When you are setting up your business in a new market, it can be quite a drain on resources and funds. It’s critical, not only for the success of your new entity, but for the overall group, that you manage the operations cashflow.
Having a process in place to manage your UK operations cashflow will ensure that you have funds available to pay your employees on time, and that you have sufficient funds to make payments to HMRC for VAT etc.
Where many of our clients have established finance teams abroad, some of our clients do not, and the founder or business owner is responsible for the numbers and understanding the financial position of their UK operation. This might not come naturally. Goodwille can provide additional analysis and advisory on your operations performance where required, cutting through the numbers to provide hands-on advice to support you in your decision making process.
‘Outsourced CFO Services’
Many of the Goodwille finance team are qualified chartered accountants, and provide Financial Controller services on a day-to-day basis to our clients. When clients experience phases of rapid growth, or, when they face challenging times, our clients require more specialist advisory services. These services can cover areas such as projecting growth, restructuring, forecasting & maximising margins.
As our CFO, Kevin’s role is to oversee the teams that manage the delivery of fully compliant financial processes for our clients, as well as for advising them on the decisions that will help drive their businesses forward. He is responsible for the Financial & Payroll departments across both the London and Warwick offices.
The Tools We Use
Xero – Accounting software for small businesses
Pleo – Smart payment cards with automated expense reports
Expensify – One-click receipt tracking and expense management