Ever wondered how your business performs compared to your competitors? What is their average bottom line? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high? Now more than ever, surviving in business means spending more time working on your business rather than in it. Maxims can provide you with accurate, timely, informative benchmarking reports that enables you to see how your business compares to your competitors, understand more about how the rest of your industry works and analyse the key performance indicators in your industry. Equipped with this information, we'll work with you to develop action strategies that improve your bottom line.
Every good business plan needs a carefully prepared budget – it’s one of the best business tools available, enabling you to set financial targets and measure your performance. The techniques we use to prepare financial projections enable you to consider future scenarios and provide you with goals to strive for in your business. Budgets will often improve your chances of securing funding, as financiers often require forecasts as a prerequisite for funding approval. Cash flow forecasting is essential for ensuring your business always has the cash it needs. Profits don't pay bills - cash does! There are several types of budgets, so we can help you design the right budget for your requirements. Let us show you how a budget and a cash flow forecast can provide feedback that enables you to prepare for a successful future.
Are you holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all expenses every month? If you struggle to answer these questions you need to talk to us about cash flow forecasting. At Maxims we can provide you with accurate, timely, informative cash flow forecasting reports that enable you to realise and understand when cash is available, plan and prepare for expansion, stock control and taxes, and analyse and anticipate key expenses. Equipped with this information, we'll work with you to develop action strategies that improve your bottom line.
At Maxims we provide day-to-day office duties to ensure your business runs smoothly no matter your skill-set or staffing. Talk to our team if you need support with processing wages, paying creditors and processing payments, collecting and banking debts or any other secretarial tasks.
The pressures of daily business can often mean strategic planning takes a back seat, but to have a successful business, it is vital to plan ahead. We'll help you establish a strategic plan that examines where you want your business to be in the next 3-5 years and exactly how you and your team can achieve these aims and objectives. Your strategic plan will:
- Define the characteristics of your company in three to five years
- Identify your competitors
- Define your objectives and financial goals
- Include an effective implementation strategy to achieve your goals
Up-to-date, accurate financial information is the backbone of good business but many business owners struggle to meet this challenge. We can relieve you and your staff of the enormous burden of all your bookkeeping and accounting requirements, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal, planning purposes, and more. We will discuss your requirements with you and provide information relevant to your particular situation, constructive advice and more on a regular basis.
Got a great idea for a new business venture but don't have the legal or financial expertise to turn your idea into a reality? Talk to the Maxims team about what’s required – we can help you…
- Decide on the most suitable structure for your business: Sole trader, partnership, or limited company
- Prepare a business plan, cash flow projections, budgets, and trading forecasts
- Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
- Establish a good working relationship with your bank
- Complete any registration procedures with Companies House, Inland Revenue, or Customs and Excise
- Deal with company secretarial issues
- Set up a recording system for your internal use and for complying with statutory requirements
When it comes to financing there are multiple options to explore. At Maxims we know the financial market and have the experience to assist you in securing the best financing option for your personal and business goals. Our experience also means we can structure debt upon acquisition to maximise tax advantages. Let our experienced team explore the best financing options with you so you can focus on your business goals.
Does your business need a health check? The accounting ‘doctors’ are here to help! It’s our job to ensure your business achieves its full potential. We are practiced in acting as a sounding board for management, bringing years of experience in business growth to the relationship and allowing us to offer quality advice to help you run your business more effectively. As part of this process our professional consultants identify the key performance indicators in your business and support you to bring about the required changes. We check your business is as competitive, focused, and profitable as it can be, then offer flexible strategies designed to address the key issues identified. Take the practical advice we can provide and ensure the ongoing success of your venture.
Administering your payroll can be time-consuming and divert you from your core business activities. Added to this, payroll and employment legislation are growing increasingly complex. Let us take on this challenge and provide you with a comprehensive, confidential payroll service that includes:
- Customised payslips
- Administration of PAYE, statutory sick pay, and annual leave
- IR-filing to the IRD
- Summaries and analyses of staff costs
- Administration of incentive schemes, bonuses, and termination payments
With over sixty online accounting packages to choose from, it’s hard to know where to start in making a decision. At Maxims we invest considerable resources into ongoing staff training to ensure we can recommend the best accounting solution for your business.