Financial Awareness for Business Owners
Build confidence with business finances, understand cash flow, pricing and profit, and make smarter decisions to support sustainable growth.
Being able to understand financial information is an essential skill for business owners. This brief course will provide you with the skills to read and interpret financial statements, understand key concepts, and produce and understand your own essential financial forecasts.
Understanding key documents: the Balance Sheet and the Profit and Loss (P&L) account
Managing the cash: fixed assets and working capital
The cashflow cycle and overtrading
Cash management – Customers and credit control; suppliers, settlement discount, and engaging their support
Managing fixed costs and variable costs
Improving financial performance and productivity
Trends analysis,
Ratios and margins
P&L and Cashflow forecasting and budgets
You’ll need to bring along a calculator. Extensive use is made of case studies to consider key concepts – if possible your own figures can also be considered
Who should attend – Suitable for business managers and owners.
Pre-course preparation:
Real-life examples of finance-related, and non-confidential problems are welcome for discussion in the sessions. You are invited to bring along copies of published accounts relating to your organisation, or examples of non-confidential finance-related reports.
Daily learning:
The course will be supplemented by group discussion. In addition, your course leader will provide summaries of course activity, so that specific topics and examples are remembered, along with further suggested reading and resources.
Meet the Trainer:
Mark Northway BA(Hons)., is an independent training consultant. He is a former director and trustee of the Institute of Administrative Management, a Chief Examiner of the IAM, and a Princes Trust Award winner for his role in business mentoring in the UK.
Mark has considerable experience in financial operation and planning within organisations, having held positions of Accountant, Financial Controller, and Finance Director, for UK and overseas companies. His experience covers sectors as diverse as practice, manufacturing, service and international organisations.
A holder of the Batchelor of Arts in Administrative Management from the University of Lincoln, his areas of financial specialisation are in producing and decyphering accounts, producing forecasts, and making figures easily understood, however many zeros they may have!
Eligibility:
These small group workshops are funded by Norfolk County Council, Suffolk County Council, and The Department of Business and Trade and are open to any trading business, freelancer, or charity based in Norfolk or Suffolk, UK.
Due to funding restrictions, only one ticket per company is available initially. If a workshop is not fully booked, a second ticket may be requested the day before the event by contacting jo.barnard@newangliagrowthhub.co.uk