Along the way, you will undoubtedly be faced with challenges or new opportunities in your business that require or inspire change, and sometimes reorganisation, to succeed.
There are both internal and external drivers for change, such as innovative leadership and revised goals or the need to adapt to legislation, developments in technology, market trends or customer needs.
Whatever the reason behind the need for change, there will almost always be financial implications. Managing and facing up to change can be hard and emotional as well as exciting, and often can only be achieved with outside support and an external perspective.
At Avonglen, our specialist Finance Directors will not only help you make sense of your company’s financial position and the options available to you, but work with you and be there for you while working towards a solution and implementing change for the better.
Having complete clarity from your financial reporting is crucial at any time and only emphasised when faced with change. It’s critical that your finance team are providing the right information to allow you to make the right decisions.
More than simply identifying your income streams and expenditure, it’s important to know precisely how much it costs you to manufacture and deliver your products and services and their profitability.
We dig deep into the fine details of your business and its finances to help you identify where you are now, what changes are happening or are on the horizon, the financial implications and what measures can be taken to ensure the most positive consequences to the bottom line.
Perhaps the hardest part of any change scenario is making sure that you make the right decisions, set the right goals and are sure that any new objectives are achievable. As a business owner, you may have realised that change is coming and having someone who you trust to talk this through can be invaluable in choosing the right direction to take and deciding how to implement the change.
If you are wrestling with making the right decision, you’ll need to have comprehensive financial information and forecast scenarios available to you as well as somebody who understands your business but who can give you an impartial and professional view.
At Avonglen, we understand the complexities of change and the impact it can have on your bottom line. We can provide the financial reporting and modelling that you need but more importantly we can provide you with advice and guidance that will help you come to the right conclusion for your business and your long term objectives.
In most scenarios, changes to the management structure in your business will be the consequence of another change, but sometimes, top level retirements or resignations are the catalyst for change across your business. The loss of senior personnel, while sometimes disappointing, can present an opportunity for other changes – for example, the salary saving may allow you to invest in new systems and processes while reviewing your organisational structure to ensure the right people are in place to manage the business effectively.
We’ll help you determine what is the best way forward for your business. After revisiting your strategy, goals and objectives we will then work through the financial modelling options with you and help to identify the most appropriate management structure and investment solutions. Using our financial forecasts and guidance will enable you to make informed decisions that are right for you.
Your business could be looking to merge with or acquire another. In either scenario, accurate financial reporting will be needed on both sides and financial forecasts will need to account for stock and asset valuation and likely changes to management structure, staffing levels, operations and outputs.
We’ll support you with positioning your business for a strategic acquisition, plan for minimum disruption and ensure the best financial outcome is achieved.
In any industry, there will come a time when the macro-environment forces change upon us. Sometimes with warning so we have time to adapt, and other times completely out of the blue.
It could be a sudden increase or decrease in demand driven by external factors; a change in legislation that will impact how you operate; or a completely unexpected event that is outside your control. In any case, you will be required to review your business strategy, adjust your forecasts or run various financial scenarios to enable you to work out the long-term financial impact on your business and the risks. Whatever you require we’re there to support you and help you find the best way to adapt successfully.
We understand the frustrations that enforced change can bring and the concern about the impact on your business. Our experience of these situations means that we can work with you to help you reach the right decisions for your business.
For some time now, you may have been working in your family owned business, but now you’ve taken over the reins you’ve got your own ideas about how to grow and develop the business.
We’ll work with you and look at the historical performance, the structure as it stands and investigate the most profitable and sustainable way to make your vision a reality - one that builds on what’s been achieved so far but uses your vision to grow to the next level.