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Seven Must-Have Business Finance Resources for SMEs

POSTED: 25th March 2014
IN: Guides
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Deciding to start up a business can be exhilarating - but it can also be a daunting pursuit.

When you've never had to think about cash flow, breaking even, profit and loss statements, and funding, all of the above falling into your in-tray at once can result in panic and stress. But it needn't.

Successful business is all about preparation; get your planning right at the offset, and with a bit of luck and a lot of hard work, the rest should fall into place.

The old adage 'fail to prepare and prepare to fail' has never rung more true than in the world of business. 44% of start-ups fail within the first three years, and in the most part, this fate is actually avoidable. In fact, failure to retain a healthy cash-flow is one of the prime suspects and can be eliminated with a little preparation and due diligence.

We've collated some of the best business finance tools from around the web to help you prepare your SME for a bright future.

  1. 1.    Business Plan Guide & Template

Prince's Trust Business Plan

undefinedLike Aldermore, The Prince's Trust is committed to supporting British entrepreneurs. Their business plan templates are a really useful starting point for those just starting out with a new venture.

  1. 2.    Start-Up Cost Calculator

Start-up Expense Calculator

This start-up expenses form helps budding business owners to budget for all required expenses involved in the set-up of their new enterprise.

  1. 3.    Cash Flow Projection Tool

Gov.uk Cash Flow Projection

undefinedCash flow is probably the single most important thing for small businesses to get right - but it can be a juggling act. This projection tool from Gov.uk makes it easy to predict how much income will be required and when, to satisfy expenditure.

  1. 4.    Profit and Loss Statement

Entrepreneur Profit & Loss

Entrepreneur.com's profit and loss statement is a great tool for keeping abreast of the business' financial performance.  Pitching income against money spent by the business for a specific period of time will help to determine the company's profit or loss.

This is an essential tool for simply determining how much money your business is making, if any, as well as paving the way for you to:

  • Compare projected and actual performance,
  • Compare your business with industry peers,
  • Develop forecasts for the future,
  • Determine business growth patterns over time, and;
  • Detect any creases relating to sales, margins, and expenses that can be ironed out for future
  1. 5.    Asset Management Template

Business Asset Management Tool

undefinedThis comprehensive template has been designed to collate information of all capital asset values to help business owners assess their suitability for future planned service delivery versus investment.

  1. 6.    Google Docs Business Templates

Google Docs Business Templates

Google's cloud platform 'Google Docs' features thousands of business document templates that have been created by users for users. This can be a really useful starting point to find essential templates, from simple invoice layouts to cash-flow management sheets. And they're rated for usefulness by users, so select the highest rated for the highest-quality documents.

  1. 7.    Commercial Property Valuation Tool

Valuation Office Agency Property Valuation

Business rates are dependent on the rateable value of your commercial premises. You can look this up using the valuation tool provided by the VOA.

For business finance, organisation is the key to success. If you'd like more information on business finance support, contact Aldermore's expert team of advisors.

 

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