Strategic - Finance

  • FutureSME Tools for Financial Management

  • What is it?

    Financial management is all about money, transactions, investments, funding and credit. You need to effectively keep track of your cash-flow, manage your financial accounts, and communicate your financial status.

  • Why is it important?

    Good financial management can help you to: 

    • Understand your financial status 
    • Comply with regulations (and avoid fines) 
    • Track the progress of your business (in terms of profit and cash surpluses) 
    • Monitor and forecast your cash flow 
    • Keep track of your loans 
    • Measure your success 
    • See when you have retained enough profits to expand your business 
    • Prepare business plans for funders and investors

  • How do I use it in my business?

    It is not just accountancy specialists who deal with business finances. As a manager, it is highly likely that you will need to analyse your financial statements to:

    • Make informed decisions about your business 
    • Communicate financial information to investors in the form of a business plan 

    Resources Step 1

    Familiarise yourself with the basics of finance.
    Finance - the basics" Video and Tutorial.

    Resources Step 2

    Check your financial health.
    Finance Health Wizard.

    Resources Step 3

    Learn to simulate financial scenarios for forecasting and planning.
    Finance Simulation Wizard.

    Resources Step 4

    Use the outputs of your simulated scenarios to create a business plan.
    "How to create a Business Plan" tutorial.

    Resources Step 5

    Implement your plan and use it to communicate to funders or investors.

How to write a business plan

An Introduction to financial planning

Cash Flow forecasting for small business

How can you manage your cashflow better?