April 26, 2017

Financial Management

Growth Hub Financial Management

The Growth Hub has unrivalled access to Finance Directors, Financial Controllers and other Financial Management resources to help you achieve your goals, regardless of whether you are a company looking to:

1. Borrow funds (for any reason.)

2. Raise Equity finance.

3. Build your Senior Management team.

4. Secure your company’s growth, value and sustainability.

5. Preparing your business for sale.

You may be a Bank, Lender or Investor looking to:

1. Understand the true picture of a proposed client with a comprehensive Due Diligence report and possibly on going Financial Management.

2. Reduce your failure rate and exposure of your current clients with a Due Diligence report and on going Financial Management of your clients.

The Growth Hub has unrivalled access to Finance Directors, Financial Controllers and other Financial Management tools to help you reach your goals.

Please feel free to contact one of our team on 0333 305 2337 or info@growthhubuk.co.uk if you’d like further information.

Funder or Investor Due Diligence

Our Due Diligence report and support will enable you to establish the quality of any companies financials, identify risks, plug gaps and in essence do the background work for your intelligence gathering process.

We can also help in preparing financial models using the company’s accounts, budgets, forecasts and then take into consideration a funder or investors own funding plans and other integration strategies.

We know that at this stage, a funder or investor will need an extra pair of eyes and a credible sounding board, and The Growth Hub will be exactly that, bringing instant credibility to the situation.

We know what funders and investors should be looking for.

We will help the Directors to understand their financial obligations, and highlight warning flags that may be missed if under pressure or working alone. The report is only one part of the puzzle, The Growth Hub will help the directors, funder and investors at any stage from pre-acquisition to many years post-acquisition.

What is the Due Diligence Report?

This comprehensive investigation provides a fully detailed report on all major aspects of the company providing potential investors, funders, non-execs and the Directors with information that will enable the validation of stated management systems, as well as reveal potential pitfalls or missed opportunities of any proposed plans.

The report will include a list of key findings and valid recommendations, as well as a reasoned conclusion with a financial analysis explaining the feasibility of our recommendations, and its impact on the company.

What will the report include?

• Review of financial details: Analysis of fixed assets, stock & WIP, trade debtors, bank and cash balances, prepayments, other debtors, HP/leases, loans, other creditors, accruals & deferred income, accounting policies, social security & VAT, corporation tax, intellectual property, goodwill and research & development.

• Financing details: Current bank overdraft, approved facilities, bank loan/mortgage, HP accounts, lease accounts, monies on deposit and other loans.

• Debtor and creditor details: Total sales and purchase ledger, debtor concentration, bargaining power of suppliers and customers, supplier and client switching costs and ageing debts & recoverability issues.

• Review of corporate structure: Share capital, capital reserves, revenue reserves, long term loans, director’s loans, dividend policies, investments and group trading.

• Employees: Key staff personnel, staff turnover, salaries, employee incentives, benefit and welfare policies, holiday and sick leave policies, contracts, major disputes, cost/revenue per employee and training & development.

• Operational tax matters: Up to date PAYE, VAT, CT, share option reporting and details of recent or pending investigations.

• Cash issues: Calculation of working capital requirements, treasury management, foreign exchange matters, managing interest exposure, covenant reporting, online payments and merchant account services.

• Forecasts: Historic trends vs. Forecast to support trading, consistency of forecasts, accuracy of forecasts and sensitivity & suitability of assumptions.

• Operations: Business profitability, overhead review, optimal finance department structure, control of business expenses, growth plans and exit plans.

• Strategy: Corporate strategy and mission, business strategy and functional strategy.

• Other considerations: Default retirement age, auto enrolment, minimum wage, NIC on salary costs, VAT recovery, credit rating, cross border issues and outsourcing issues. All investors and most lenders will stipulate a funder Due Diligence and by Instructing The Growth Hub you can access this level of skill on a part time basis.

Please feel free to contact one of our team on 0333 305 2337 or info@growthhubuk.co.uk if you’d like further information.

What is a Finance Director?

A Finance Director is a senior executive who supports a business by overseeing and implementing the financial strategy for the company. Finance Directors control key financial matters by managing risks, pushing growth and supporting the existing management team or Managing Director.

What is a The Growth Hub Finance Director?

The Growth Hub Finance Directors are not ‘just accountants’. They provide world class incisive information on a more timely basis to reorganise your business and aid your decision making process.

Our FD will implement plans to enhance profit margins, provide strategic support and assist with business plans, funding proposals and other key areas that affect your profitability and cash flow.

They bring about more profit than they cost, often within weeks.

Our Finance Director’s role is not a passive one, your business views and opinions might be challenged- from pricing to distribution strategy, from marketing plans to remuneration to ensure your future plans and direction is financially viable.

No business deserves to be without a Finance Director, even if for one day a month.

Your Growth Hub Finance Director will be the credible sounding board your business needs to take it to the next level and our business model ensures that your finance function is cost-effective and efficient.

Take advantage of the experiences and expertise of some of our most senior team members on a part time basis by requesting this service now.

If you are looking to raise finance then most funders will recognise the value an FD brings to your business and is likely to make the difference between a yes and a no.

Ask yourself how much a ‘no’ is going to really cost you.

Our Finance Director services include:

1. Financial Leadership the entrepreneur can rely on

2. Strategic Support for a growing business

3. Managing growth to maintain financial stability

4. Monitoring and improving business processes

5. Cost reduction advice

6. Profitability and pricing analysis

7. Property contracts/commitments analysis and overview

8. Banking requirements and funding developments proposals

9. Pensions – overview of aims and costs

10. Financial planning

11. Annual budgeting and forecasting

12. Monthly performance tracking and variances from budget

13. Business plan preparation

14. Capital equipment leasing and purchase advice

15. Financial implications advice on strategic changes

16. Financial systems up-grades and specification

17. Overview and reporting on licences, agreements etc.

18. Planning and documentation for financial due diligence

19. Business start-up implications

20. Monitoring and improving business processes

Most smart investors will stipulate the hiring of a Finance Director and by Instructing The Growth Hub you can access this level of skill on a part time basis

Day, monthly and annual rates are available.

What Is a Financial Controller?

A Financial Controller is a management level expert responsible for supervising the quality of accounting and financial reporting within your business.

What is a Growth Hub Financial Controller?

Growth Hub Financial Controllers are not ‘just senior managers with accounting experience’. They have an eye for detail, managing routine transactions, ensuring data is accurately recorded and that the your business has sufficient procedures and controls in place to prevent loss.

Their role encompasses a variety of responsibilities, from overseeing accounting and monitoring internal controls to countersigning on expenses and commitments.

The FC service focuses on the application of strong financial reporting procedures at a critical stage of business growth.

Take advantage of the experiences and expertise of some of The Growth Hubs’ most specialists members on a part time basis.

If you have someone in this role, do you get all the services below?

The Growth Hub Financial Controller services include:

1. Monthly management accounts (very helpful if you wish to gain investment or funding)
2. Performance analysis by product/service, department or employee
3. Development of financial monitoring procedures and setting key performance indicators
4. Monitoring of cash flow
5. Minimising working capital requirements
6. Continuous reporting on key ratios and control factors
7. Preparation of annual statutory financial accounts
8. Assistance to company secretary on finance related issues
9. Advice on systems and controls
10. Analysis and schedules in preparation for annual audit
11. Specialist third party reports in support of bank covenants, credit applications etc
12. Financial management of property issues, insurances and employee benefit packages
13. Project management support requiring specialist financial expertise
14. Financial model creation and development

All investors will stipulate the hiring of a Financial controller and by Instructing The Growth Hub you can access this level of skill on a part time basis

Day, monthly and annual rates are available.

What is a Credit Controller?

A Growth Hub credit controller manages business debts and deals with outstanding payments. As a role, Credit Controllers are usually responsible for chasing outstanding invoices to a business and they play a vital role in the cashflow of the organisation ensuring that credit given to customers is monitored or controlled effectively.

What is a Growth Hub Credit Controller?

A Growth Hub Credit Controller is not ‘just payment chasers’. They are analytical professionals with strong credit control experience who improve the cash collection process within a business, in order to release cash from sales quickly and effectively.

A Growth Hub Credit Controllers are flexible, adaptable and work easily in a targeted working environment to meet agreed collections targets. They have good working knowledge of Excel and key accounting software and are keen to improve processes where necessary. Their aim is to reduce a company’s debt burden and maintain good relations with your customers, helping to resolve problems of missing paperwork where necessary or identifying risky debtors with an audit trail.

For some new businesses a credit control function is not a high priority but establishing the correct procedures and adopting best practice solutions early on can have a positive effect on a company’s cash flow longer term. We can offer a flexible and scalable resource to establish and maintain the credit control function.

You can discuss your needs with The Growth Hub Credit Controller team on info@www.growthhubuk.co.uk

Our Credit Control services include:

1. Chasing debt by telephone and email and ultimately reducing debtor days
2. Keeping in regular contact with debtors to ensure that they will pay on time or arrange a schedule for
3. Keeping records of contact made with debtors to help businesses identify risky debtors and to provide an
audit trail for any legal action that might be necessary down the line
4. Allocating payments in accordance with customer remittances
5. Processing and generating reminder letters and monthly statements
6. Work with and reconcile debts and the aged debt register
7. Collection system analysis, implementation or improvement
8. Dispute resolution and analysis
9. Liaising with the sales and accounts receivable team to resolve outstanding queries
10. Ensuring that all major accounts work to agreed order to cash cycle
11. Month end reporting and account reconciliation
12. Investigating and resolving queries relating to non-payment of invoices

Many investors and most lenders will stipulate the hiring of a Credit Controller and by Instructing The Growth Hub you can access this level of skill on a part time basis.

Day, monthly and annual rates available. Your Growth Hub Credit Controller team will be happy to answer any questions you may have.

Do you recognise any of these 8 signs?

1. Your home finances are starting to suffer

2. Is your business on stop or crawling along and do you have to purchase goods on a proforma basis Reduced creditworthiness?

3. Difficulties in meeting your monthly/quarterly commitments to PAYE, NI and VAT and the ensuing fines and penalties?

4. Is there a hardcore of debt, which never seems to reduce? Significant debtor balances aged beyond 90 days in your sales ledger?

5. Inability to gather accurate and timely financial performance data?

6. Unsure about which products and services make you money?

7. Pressure from your business bankers, factoring or finance house to restructure or reduce their facilities with you?

8. County Court Judgements (CCJs), notice of impending legal action, complaints from suppliers over late payments and consequent breaches of your business credit limits?

What will a Growth Hub Financial Health check tell you?

1. We review the efficiency of your business and detect possible cash leaks that could result in declining profits for your business.

2. We offer impartial, expert advice about your true financial situation and alert you on areas that need urgent attention. This comprehensive Healthcheck is a brilliant start towards effective financial management and an excellent report for potential funders and investors. This report can turn a no into a yes or simply avoid a no altogether.

3. We realise that every business is different, so we take a bespoke approach when reviewing the financial condition of your company. Standard principles exist and whilst we will target those areas, we will also look at other unique performance indicators within your business that need urgent attention.

For a comprehensive diagnostic, we address these 6 key areas:

1. Planning:
Budgeting, Forecasting, Funding Sources, Funding Use & Strategic Direction

2. Financial reporting:
Management Reporting and Statutory Obligations

3. Documentation/ Recording:
Bookkeeping Procedures, Accounting Systems & Deadlines

4. Controls:
Reconciliations, Security, Backup systems, Fraud Prevention

5. Resource & Employment Model:
Tasks, Support, Reward Systems & Leadership

6. Observations and recommendations:
We will highlight opportunities that can be exploited or improved to reduce your financial risk

As a result, our report will enable you and our team to:

1. Identify key areas of financial risk to the business and develop approaches to manage them

2. Optimise the way capital is allocated throughout the business

3. Highlight any mismatches between assets and liabilities

4. Improve financial controls, processes and reporting mechanisms

5. Propose ways to maximise cash flow

6. Implement adequate documentation to improve compliance issues

With our specialist team, you receive a quick and cost effective pre-investment diagnostic and due diligence reports and support.

Unlike traditional firms of accountants, we perform these diagnostics with a purely commercial eye and we support you through pre-investment to post-investment stages.

All investors will stipulate the hiring of a Comprehensive report and by Instructing The Growth Hub you can ensure that you stand the best chance of gaining the funding you need.

Your Options.

The Growth Hub was founded as a Corporate and Business Finance provider and we constantly sought the Financial Management services The Growth Hub now offer.
We brought these services in house to ensure a level and consistency of service that we could not find in the market.

We needed the Financial Management service to be a flexible, pay-as-you-use service that constitutes a considerable benefit to our clients, funders and investors.

We consistently seek the best solution to an issue, and the vast level of experience we have at our disposal allows our team to provide a solution tailored to any situation, which may involve a combination of skill levels or a layered approach.

To this end, we have certain standard package detailed below that will enable you to budget for your finance function ahead of utilising these services. Please select a service which looks best for you – if you have trouble deciding which is right , please email your Growth Hub team on info@www.growthhubuk.co.uk.

Free 1 hour Face to Face With a The Growth Hub FD (£0):

Take the one of our free online health check tests using our free tools to bring to light any initial financial concerns. You can then request for this free 1 hour top-level consultation with a Growth Hub Finance Director to discuss 1 or 2 specific items from your health check or other issues the test may have triggered. You will receive specialist advice however there will be no written report, which you may choose to request for in the next level of package below (the HPR service).

Health Check Light (from £397 plus VAT plus expenses per month):

This offers you access to a Finance Director/ Board Advisor for half a day per month. Very focused and structured for those who just need a sounding board for key decisions, financial support, strategic planning, input into specific aspects of the business or some mentoring and guidance.

Health Check and Profitability Review (from £776 plus VAT):

Many Growth Hub clients initially request a Health check and Profitability Review. This is a more advanced assessment than our online financial healthcheck and is your chance to discuss your goals, financial situation, processes, and plans with someone totally objective and knowledgeable in your field.

This 2.5 hour face-to-face session will highlight areas of opportunity as well as any potential risks during the discussion. After the initial meeting we will produce a short report setting out the options and our recommendations. This is impartial and honest report and you may not always like what you see, however you will benefit from it. There is no obligation to appoint The Growth Hub for any other task after this initial review.

Power Start (£899 plus VAT per month):

This gives you 2 half days or a full day access to a Finance Director/ Board Advisor per month. This is a very focused and structured for those who need more time with a sounding board for key decisions, financial support, strategic planning, input into specific aspects of the business or some mentoring and guidance. You will also receive email and telephone support built in.

Financial Management Monthly Pack (£499 – £999 plus VAT)(depending on size and complexity)

This package includes a combination of key solutions. This will include the production of monthly financial management accounts pack and commentary from completed trial balance, completed by an agreed deadline every month plus email and telephone support to existing team members. Other analysis relevant to the business e.g. variances against budget, reporting of key ratios, tracking against financier covenants and other reporting requirements will be provided.

Please contact us today if you’d like further information. You can call us on 0333 305 2337 or email us at info@growthhubuk.co.uk.
The Growth Hub Team look forward to hearing from you.