Show Me (how to manage) The Money!
Most small businesses fail because they run out of money. Whilst this is a fact, it also unenlightening. Drill down a little further to reveal the range of pitfalls – cash flow crisis, bad debts, poor lending, liquidity risk etc. – and often at the root of downfall lies a lack of financial understanding and insufficient, if any, management information. In Hounslow we want to buck this trend and recognise that it’s a person’s knowledge, skill or passion that’s at the heart of a business start-up, and not a grasp of the numbers.
In partnership with Thameside Enterprise, we have been running a series of free financial literacy workshops and one to one mentoring sessions with some outstanding results. Don’t take our word for it, here’s what Dr Duv Nar of DNA Dental Health, Kingsley Road had to say – “I have a fair understanding of the annual P&L accounts but found cashflow forecasts a completely different kettle of fish. Understanding the cash flow has opened up so many options for me. I now have a much deeper knowledge of how the financial aspects of business work and how I can affect it. I’m thinking completely different now. Much more strategic. I would absolutely recommend the course”
The Financial Literacy programme begins a new tranche in September but you can book now at http://thameside-enterprise.org.uk/workshops/