How can I get my business under control?

Your business has grown more than you expected, merged with another business, or you’ve bought a rival firm (mergers and acquisitions). If so, the days of being able to keep all the numbers in your head and the financial contexts of individual business moves automatically springing to mind are probably gone.

Before you achieve such success, focus on the following points.

  • Growth planning – growth shouldn’t be random; it should take place in accordance with a long-term strategy of business development that has its own taxation and accounting context. Make sure you always have your firm’s growth under control.
  • Configuration of planning and controlling – you ought to have a constant overview of the impact of business development enabling the company’s growth. In this way, any changes of direction may be corrected more easily.
  • The right way of long-term as well as short-term financing – you shouldn’t get your company overly in debt through your growth strategy, but nor should you needlessly deploy more of your own funds than necessary.
  • Minimizing the tax burden – don’t pay tax unnecessarily!
  • A thorough inspection of the situation of the business you’re buying – from an accounting perspective you should know the purchased business as well as you know your own company.
  • Using external services (outsourcing) – you should stop doing activities at which you’re not expert, and concentrate on those that sustain you, because rapid growth requires your attention.
  • Assessing the risks associated with enlarging the field of activity – although the EU has standardized a number of realities, when expanding geographically you should check the taxation and accounting requirements of the other country beforehand.
  • Assessing the risks associated with changing your product portfolio – before adding new products, you should always check you’re not heading into an area with different tax or accounting practices, and if so, make thorough preparations.
  • We’re ready no matter when to help you: as you plan your growth, during the realisation of your company’s growth strategy, but also if your growth has literally got out of hand. Contact us!

Want to know more? Contact us.