The pitfalls of trusting your bank balance alone
15 May 2024
Consider how money moves through your business over time…
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Always adding financial management value
Good financial management is as must for every business but it’s often ignored and overlooked simply because it’s misunderstood. In this blog archive Essex FD Garry Mumford simplifies all things financial and shares with us a lifetime of practical financial business advice.
In this blog archive our Managing Director, Garry Mumford simplifies all things financial and shares with us a lifetime of practical financial business advice.
Consider how money moves through your business over time…
“Our people are our secret to our success” said the business owner – The counterpoint to that is they’re also your greatest vulnerability.
The financial side of your business can’t be the only part of your business that professionalises.
All parts of your business really need to grow up together, in order to create a more profitable organisation that is ready for its next stage of growth.
What was the worst experience you’ve had with an accountant? Do you have a story that still makes you recoil in horror?
The company owner took responsibility for building an accounting function which they understood very little about.
They had no idea what an efficient, successful finance department that helps propel a company forward looks like.
What are you doing that you shouldn’t be? Are you wasting time on your finances when you could focus on growth, not accounting.
The more your team understands about finance in general, and your company finances in particular, the easier it will be for them to take on financial tasks
Experience indicates to me that business owners without strong financial backgrounds focus on profit and loss rather than the balance sheet.
There are several common reports in every set of monthly management accounts to give a view of your past, present and future.
Now that the economy seems to have calmed somewhat, there may be incredible opportunities – if only you look for them.
For information on Insight Associates accounts, FD and financial management services call us on 01279 647447 or Email Us
Insight Associates Limited. Registered in England and Wales Number: 5670047. Registered Office as above.
Copyright © 2025 Insight Associates Limited. All rights reserved.
Tel: +44 (0)1279 647447
Insight Associates
Limited
Insight House
Riverside Business Park
Stoney Common Road
Stansted Mountfitchet
Essex, CM24 8PL
United Kingdom
Copyright © 2023 Insight Associates Limited. All rights reserved.
Insight Associates Limited. Registered in England and Wales Number: 5670047. Registered Office as above.
Copyright © 2025 Insight Associates Limited. All rights reserved.
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