Basic Financial Management for owner- managers of small professional services firms

 

This course is aimed at owner managers of small professional services firms, either just starting out or in their first few years of business. The aim of this seminar is for you to gain an understanding of the key financial issues that you must be in control of, in order to ensure your firm is successful. After attending this course you will have gained new skills that will enable you to run your business more profitably and control any growth more effectively.

 

Topics to be covered include: -

• Importance of and control of cashflow

• Invoicing & getting paid on time

• Budgeting for and understanding the costs in your firm

• Direct costs/Overheads – what are they?

• Identifying what it really costs you for every hour worked

• Fee bids – how to do them

• Should we do timesheets?

• Cost control

• Management Reports / Accounting Software .

• Corporate structures – why Limited Liability?

• Insurances – a necessary evil

• Contracts – what should I do with them?