How to smooth a turbulent cashflow

An independent finance firm recently surveyed 1000 small businesses to find out what cash flow obstacles they’ve faced and how easy it’s been for them to overcome those issues.

Hopefully you’ll agree that accountants tend to be the most trusted business advisors for SMEs; certainly 72% of business owners told ICAEW that they get added value from maintaining good relationships with their accountants.

So what did the research show?

Cash flow

Managing cash flow is one of the biggest concerns for business owners. The research found that “Consumer and supplier expectations have shifted to a new pitch: faster, simpler, and more connected are now the expected norm.”

In the ‘olden days’ accountants work was quite reactive with client meetings once a year that would throw up any problems that had occurred over the past twelve months. How things have changed – now many accountants meet with clients more regularly.

Here at Nordens, however, we’ve always taken a more pro-active approach.

It’s important to meet with clients on a quarterly basis, and to be available whenever a potential issue rears its head with advice on the best strategies to move forward. But importantly, it’s brilliant to meet regularly to assess positive changes that can be implemented to make the business run more smoothly and profitably – not only in times of stress, but for constant improvement too.

This approach of constant contact means you can identify and tackle cash flow problems well before they get out of hand.

Analytical tools

A member of our team has created a range of powerful tools including bespoke software and analytical packages that can empower you to stay in control of your cash flow and other relevant finances. Ask us if you’d like to know more about accessing these.

Late payments

Almost one in five businesses suffer from late payments. When you invoice someone, you expect to be paid promptly – sadly this isn’t always the case: another reason why it’s good to know that your accountant has your back.

Now that Making Tax Digital (MTD) is in full force, it’s much easier to keep track of what’s coming in and going out using digital software. You can see straight away who’s paying late and by how many days, weeks or months! Ask your accountant to help you to understand the data and interpret what it all means, allowing you to see the red flags and deal with them in an insightful way.

Sourcing finance

The research findings reflected current thinking that high street banks are less responsive to clients’ needs. Their lack of personal service and centralised processes mean that, often, no one has a clear understanding of their customers’ businesses. This level of finance care is just not up to scratch.

Our clients don’t need to worry about that. We connect businesses to the right financial institutions for them, the ones that will be best suited to their requirements. With the latest technology and our circle of trusted professional contacts offering a selection of options, it’s easier for you to access the help you need.

Removing the stress

Wouldn’t a smoother cash flow help to take the pressure off – especially now, as many businesses begin the run up to Christmas?

You have several options to make it happen; don’t leave it until it’s too late!

Beyond Accountancy

At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.

Nordens Strategic

Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.

Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.

Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.

Accounting 2 You

Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.

Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.

With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.

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Chris Dyer

Director - Metro Bank

Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.

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Co-Founder - Chicmi Limited

Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.

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Director - Rose Opticians

I have been using Nordens Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation

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Founder & Director - Physio LDN

Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.

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Principal - Pauline Quirke Academy

Great accountants, always available to offer advice. The team have transformed my business.

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Christopher Wilce

Founder - Dataphone

Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.

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Dave Hodges

Director - Linekers

Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!

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Tony Charles

Founder - Foundation Sports Limited

A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.

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Peter Horlock

Managing Director - Prime Time Boilers

I have been with Nordens for many years now and they are a great accountants.

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Simon Cushing

Founder - Vivid Finishes

We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.

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Andrew Martin

Managing Director - AMD Interior Architecture

Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.

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James Robinson

Director - Forma London

Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!

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Nordens Chartered Accountant and Business Advisers | Strategic Business Planning | London | Essex | Award winning accountant
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In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.

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