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How does your industry and business model affect growth?
The financial position of your business is often identifiable through analysis of recent growth. Identification of working capital and a clear cash flow is essential in ensuring that the business is moving forward. Understanding these metrics is the first step towards success. SP Solutions are best placed within the business planning services industry to offer advice to small businesses in Melbourne. The first step SP Solutions will take with all new clients is to analyse the three-way cash flow to determine and forecast how cash, profits and sales will interact in your business’s future. This will then assist in making decisions about overdrafts and further financial modelling.BUSINESS
Why knowing your numbers is an essential part of business planning
Numbers are an essential consideration of any business planning. Having a deep understanding of your numbers enables clearer decision making around each area of the business, as they communicate where budget should be spent based on factors such as lucrative target markets and areas of improvement, and therefore investment. Ultimately, this understanding will determine your cash flow, which directly links to profits.BUSINESS