New website puts SMEs in control of their finances

We’re really excited to launch our brand-new business calculator, designed to help SMEs get on top of their finances.

Garrod Beckett’s free online Business Equation tool helps you produce a budget with predicted profit or loss based on the figures you put in. It can be used to calculate the current health of your business, to create a business plan, or explore the impact of different financial scenarios on your business.

The tool comes as part of our new website which is designed to make it easier for businesses to get the information and support they need. The website revamp makes it simpler to navigate and offers practical tools and resources all in one place.

Paul Garrod, Owner and Director of Garrod Beckett, said: “Many people find the financial aspects of running a business hugely daunting and complicated, which is why we want to make things as easy as possible. 

“Our aim is to help SMEs to thrive by supporting them to manage their finances effectively. We offer practical tools alongside expert insight, so that people are empowered to make informed decisions about their businesses. 

“The Business Equation tool helps you map out sales and costs across the year, to give you an overview of business performance. And it allows you to try out different numbers, so you can see what could happen if you raised prices, bought new equipment or took on extra staff. That knowledge is vital if you want to protect and grow your business.”

The tool includes an indicative cash flow projector which demonstrates the need to have the right amount of cash in your business at the right times to cover your costs. It shows you a basic cash flow scenario based on equal sales and costs throughout the year - but these are different for every business, so you need to consider the flow of your income and when you have to pay for things like rent and rates.

Paul continued: “Cashflow is the lifeblood of every business. But sadly, many businesses fail because they run out of cash to cover their costs. If you don’t have a proper handle on it, financial issues can escalate very quickly. The tool gives you a flavour of cash flow but it’s important to get expert advice on how much cash you need to keep in the system and the timing of payments to make sure your business is secure throughout the year.”

The Business Equation tool is just one of a number of practical resources we’ll be sharing to help boost the success of SMEs. And we’d love to hear how you get on with it.

You can try out the Business Equation tool here. If you would like any help, or to discuss how to customise the tool for your business, please don’t hesitate to get in touch.

 

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