This page is divided into two sections. The questionnaire that creates your Business Fitness Assessment and information that we need to personalise the report for you.
The Questionnaire:
You can select individual answers to the questions posed. The default setting is Not Applicable - leave this choice in place if the issue raised by a question does not apply to your business. For instance if you are a retail business the questions on credit control will probably not apply.
Q1 Do you prepare updated, moving annual budgets? (Can you always see profits, balance sheet and cash flow forecasts one year ahead)
Q2 Do you prepare and review monthly management accounts?
Q3 Do you prepare weekly cash flow projections?
Q4 Do you credit check all new customers?
Q5 Do you set and enforce credit limits for each customer?
Q6 Do you follow a systematic process to chase outstanding debts? (monthly statements, follow-up letters and telephone calls)
Q7 Have you taken out credit insurance, to insure against bad debts?
Q8 Does the actual day's credit given to customers consistently exceed your credit terms?
Q9 Do you review your key suppliers periodically to see if you can extend your credit terms?
Q10 Do you review your key suppliers periodically to see if you can reduce your costs by finding alternative suppliers?
Q11 Do you pay your suppliers early?
Q12 Do the total amounts you have borrowed from banks and other finance providers exceed your business retained profits and capital. (Capital is your issued share capital if a limited company or the balance of your capital account(s) if you are a sole trader or partnership)
Q13 Do you struggle each month to pay your bills, stay within overdraft limit etc.
Q14 Do you have sufficient cash reserves to meet your fixed cash flow commitments for one month forward, with no incoming funds in that period?
Q15 During the last year have you defaulted on loan repayments?
Q16 During the last year have you exceeded your overdraft limit without your bank's agreement?
Q17 During the last year have any cheques, direct debit or standing orders been refused payment by your bank.
Q18 Have you reviewed your outside funding sources in the last year? (To consider rescheduling debts or refinancing at lower interest rates etc)
Q19 Do you send your bank monthly management accounts as well as annual accounts?
Q20 Does your accountant assist in the preparation and or review of your management accounts and cash flow forecasts?
Q21 Have you undertaken a strategic planning review of your personal and business tax affairs within the last year?
Q22 Would you say you are employing more staff than you need?