Boards play a critical role in the success of private businesses by providing strategic direction, advising the Executive team, overseeing business performance, and managing risk and compliance. To fulfill these roles effectively, Board members need to be equipped with insightful information.
Grant Thornton Private Business Tax & Advisory Partner Nick Love recently interviewed Mark Nicholas, Founder and CEO of Anchor Private Financial Services, about forecasting and budgeting for businesses, focussing on the banker's perspective on three-way forecasting.
To achieve sustainable growth for your business, you need to navigate the complexities of scaling, financial processes, working capital, and more. As such, it’s critical to know whether your advisor is working with you to future-proof your business and plan for growth – or if they’re just ‘doing the books’. Does your advisor truly understand of your business direction, strengths, and provide tangible advice to enable your growth goals?
We explore the different market segments in the construction industry during the COVID building boom to better understand the profile of industry participants most likely to feel the sting of continuing supply chain pressure.
Every business owner needs to become fluent in financial literacy. If not enough attention is dedicated to this area, it can lead to an avoidable business downturn.
Crisis creates opportunities and stimulates innovation. Survival is without doubt the most critical focus for start-ups during the COVID-19 pandemic, but it can also be a time for start-up founders to establish a solid and long-term strategic plan for scaling up a sustainable business in the long-run.