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Identify Risks

CIMA qualified accountants identify and manage risks.

Identify Risks

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Understanding and dealing with the risks inherent within any business is vital to long term sustainability. Key times when risk analysis is necessary are when a business is starting out or expanding.

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CIMA qualified accountants identify and manage risks.

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Case Study

Kim had always wanted to run a cafe and the opportunity came up for her to take over the lease of a property in her local village. The property had previously been a post office but Kim was sure it would make a wonderful location for her dream business.

Fortunately, Kim's sister-in-law was a management accountant and she offered to take Kim through the business planning process, so she could see what she might be letting herself in for before she committed to anything.

Kim thinks...
I need help with my new business idea

Kim came to realise that here were lots of aspects to setting up and running a business she was not aware of. In particular, she had little understanding of the scale of costs involved in getting a café started from scratch. By the time they had drawn up a cash flow forecast, detailing all the things the business needed before it even opened its doors, the start-up costs were in the region of £100,000. To raise such a sum Kim would have to provide personal guarantees to the bank.

Kim decided that the risks to her family's financial security were just too great and did not proceed.

By drawing up a clear plan on paper, which identified the inherent risks of Kim's new business idea, she was able to make a measured decision before committing to it.

Free Downloads

Alice Davidchack

Financing Your Business Growth

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Financing Your Business GrowthDownload →

It is a well-established truth that businesses live or die based on their cash flows. If you intend for your business to grow, you will most certainly need more cash than what is required for maintaining a steady turnover. You might be asking: How much will I need? and 2) Where will it come from?
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Mark Barrett

IR35 - the never ending story

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IR35 - the never ending storyDownload →

As a specialist in managing IR35 for our consultant and contractor clients, here is the latest news on this saga.
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Fiona Bevan

Your Guide To Starting A Small Business

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Your Guide To Starting A Small BusinessDownload →

Running your own business can be the biggest thrill you will achieve in your working life, or the most stressful and demoralising experience you can imagine. On some days it is both! So how do you set up your business to give yourself the best chance of success?
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