Grab a pen and a cuppa and take 10 minutes to complete this health check and work out just how healthy your business is.
1) Cash Flow
• Can you meet your debts as they fall due?
• Does your business provide you with financial independence?
• Can you take time off when you desire, including any length of time?
• Does your business provide the desired level of income, allow for growth, taxes and other social
• Are you clear on your Company Goals?
• Do these goals extend beyond the lifetime of your business?
• Is there energy and action taken towards achieving those goals?
4) Flexibility & Adaptability
• Are you personally able to adapt to unforseen circumstances?
• Are your products or services adaptable to the changing market?
• Can your business adapt and survive due to unforseen circumstances?
• Are your employees happy, hardworking and diligent?
• Do they contribute to your business success?
5) Debt/Equity Ratio
• If your overall assets were cashed up would they cover your short and long-term liabilities?
• Is the debt on your balance sheet good debt (ie it allows growth and helps generate cash and revenue)?
6) Working Capital Ratio
• Is your working capital at least 1.3 times your liabilities so that you can meet your short term liabilities?
7) Financial Knowledge
• Do you know your monthly figures and how much money you've made each month?
• Have you got enough money in other accounts for tax and growth?
• Do you understand the key drivers of your business and track and measure them?
8) Products/Service Life Cycle
• Is your product/service still relevant, fresh and sought after?
• Is there potential left to grow your products and services?
• Do you know your customers well and keep in touch regularly?
• Do you have ways of communicating with them directly with new offers and information on your business?
• Do you have good systems and procedures to manage everything from employee contracts to OSH?
Now lets see how healthy your business is! Add up the number of questions you answered yes to.
0 to 5 Yes - Time to call Accounting Solutions Pronto
6 to 10 Yes - Still time to call Accounting Solutions!
11 to 16 Yes - You're halfway there. Let us take you all the way to total success.
17 to 23 yes - Wow, well done! Share your secret with us!
"With our previous accountant, I had all this information but didn't really get a grasp of what it meant. Now with Accounting Solutions I understand my overall business and where we are going."
-Richard Allin, Managing Director, Push Bikes Ltd
Accounting Solutions has surpassed my previous experience of a large international accounting firm. An experienced accounting team who can manage complex financial tasks."
-Phil Bryant, Channel X
"We have been clients of Accounting Solutions for over 13 years now. Their proactive approach has helped our business to continue to grow and helped make business simple, profitable and enjoyable."