Olive Business Partners

Recently a client came to us looking for help with a business plan for his sports tech business idea. He had a solid idea, a patent for his technology, and investors ready to back him. However, navigating the "business" side of things, like setting up the company and forecasting cash flow, can be daunting. I started by crafting a comprehensive business plan for him. But then I walked him through all the necessary steps and resources to get his company up and running smoothly, while also ensuring he’s protected from any potential risks. We’ve now committed to working together on an ongoing basis. While I’ll be handling the financial planning, cash flow management, and risk mitigation, I’m also connecting him with a network of trusted professionals for legal, accounting, IT, HR, and other essential services. At Olive Business Partners, we are not only helping with financial growth, but we make solving your business challenges seamless and stress-free.

When your client has had a bad day, it's Sebby's Scrolls and Olive Business Partners to the rescue! Delivering financial advice, caffeine, and baked goods 🤗

Running a business is often not just about the business success. For a lot of business owners, it’s also about financial security for their families and future. Securing your financial future—both professionally and personally—is possible with thoughtful planning and smart decision making. Balancing your business's growth with your family’s needs requires intention and focus, but the payoff is worth it. On the blog this week, we explore how you can build a financial foundation that supports both your business and your family. Read it here: https://lnkd.in/g9KF-rV4

FAQ: How will a Virtual CFO help your business grow and improve financial performance? A Virtual CFO will help your business grow and improve financial performance by providing strategic financial guidance tailored to your business's specific needs. They will analyse your financial data, identify growth opportunities, and create a strategic plan to scale your business effectively. A Virtual CFO will also help you manage cash flow, optimise expenses, and implement financial controls to ensure long-term profitability. By offering insights into key financial metrics and risks, they enable better decision making, which can lead to increased efficiency, higher profitability, and sustainable growth. Contact us to discuss how our Virtual CFO services can help your business to grow!

What is the difference between an Accountant, Bookkeeper, and Virtual CFO? Understanding the roles of an accountant, bookkeeper, and virtual CFO can help you decide which financial support is best for your business. Bookkeeper: A bookkeeper manages day-to-day financial transactions, including recording income and expenses, processing invoices, and reconciling bank statements. They ensure your financial records are accurate and up-to-date. Accountant: An accountant helps with tasks such as preparing financial statements, filing taxes, and providing guidance on your business structure. They offer insights into your financial health based on historical data and help you comply with regulatory requirements. Virtual CFO: A virtual CFO provides high-level strategic financial guidance and help you to look forward. They assist with financial planning, budgeting, forecasting, and financial decision-making. A virtual CFO is particularly valuable for businesses looking to scale, as they bring expertise in growth strategies, funding options and profit optimisation. All of these roles are important for a growing business and often they will work together to provide seamless financial support for your business. Get in contact if you would like to discuss your financial support. While Olive Business Partners can help with Virtual CFO services, we also have some great accounting and bookkeeping partners to recommend!

"My revenue is growing, so why don't I have any profit?" This is a common scenario for business owners which can be both confusing and frustrating. After all, increasing revenue should mean increasing profits, right? Unfortunately, it's not always that simple. Several factors could be at play: Rising Costs: As your business scales, expenses often rise too. Hidden Overheads: Growth can bring about new, often hidden costs, like additional office space, increased software subscriptions, or equipment leases. Inefficient Pricing: If your margins are low or you're discounting heavily to drive sales, revenue growth might not lead to stronger profits. Scaling Inefficiencies: As businesses grow, inefficiencies can emerge - bottlenecks in your operations, waste, or poor productivity. Good financial analysis and forecasting can help you get to the bottom of this and increase profitability. Contact us today if you'd like some help assessing your business situation!

When you choose to protect your client’s documents instead of your own hair in the wind! This is the level of customer service we provide at Olive Business Partners! #customerservice #keepingitreal

As your business starts to scale operations, you may find yourself asking, "Does my business need a finance team?" The answer depends on several factors, including the size of your business, the complexity of your financial transactions, and your growth ambitions. In this week's podcast episode, we explore the pros and cons of having an in-house finance team versus outsourcing finance partners. Learn about the roles of an accountant, bookkeeper, and virtual CFO to determine the best financial support for scaling your business. Listen here: https://lnkd.in/gxFTyuXw

FAQ: Can a Virtual CFO help me secure funding? Yes, a Virtual CFO can play a critical role in helping you secure funding or investment. They assist by preparing your business for investor analysis, ensuring your financial statements are in order, and developing financial projections that align with your growth strategy. They can help to identify the most appropriate funding sources, whether through equity, debt, or alternative financing. A Virtual CFO can also support you in crafting a compelling business plan and pitch to investors and negotiating the terms, leveraging their experience to improve your chances of success.

Is your business well protected from financial fraud? Here are some prevention measures to consider: 1. Implement Strong Internal Controls Segregate duties amongst your staff, use dual signatures for large payments, and regularly review financial statements to minimise risks. 2. Educate and Train Employees Train your team on fraud detection and prevention while building a culture of transparency and accountability. 3. Monitor Financial Transactions Regularly track transactions with real-time monitoring systems and automated tools to detect and prevent fraud. 4. Strengthen Cybersecurity Protect financial data with strong cybersecurity measures, for example firewalls, encryption, and multi-factor authentication. 5. Verify Vendor and Customer Information Conduct thorough due diligence and identity verification to ensure the legitimacy of your business partners. 6. Develop a Response Plan Prepare a plan to quickly identify and address any instances of financial fraud. Need help knowing if you are at risk? Reach out to us to conduct a financial health check for your business.