As an industry we do a great job of creating sales leaders, but no-one teaches you how to manage and understand finance in a recruitment business. So, when you find yourself running your own business, where do you go to for this invaluable information?
The Demystifying Finance course goes back to basics, cutting through the jargon to give you the confidence to engage with the numbers available to you to help you drive growth and profitability.
The course covers the following 6 modules.
How to structure, read & benchmark your P&L for maximum impact!
This module covers: Terminology, how to structure your P&L for ease of use, key cost areas and ideas of how to control them, financial KPIs and how to benchmark your business against the industry as a whole.
What is the balance sheet and how can you use it to understand the financial stability of your business?
This module covers: Key components, key risk areas and common misconceptions, how to manage risk and you can find out if your finance team are doing a good job. We also look at balance sheet ratios to benchmark your business.
Is your business properly funded and are you proactively managing cash flow?
This module covers: Funding options for recruiters, understanding your invoice finance facility (how it works and how it is charged for), the rates you should be paying, creating a simple and intuitive three-month rolling cash flow forecast.
‘Nothing is certain except for death and taxes’. We can’t make you a tax expert overnight but…
This module covers: The basics of VAT, payroll taxes, corporation tax, Directors’ loan accounts and how to manage your relationship with HMRC and time to pay arrangements.
Exiting a recruitment business and how to prepare for an event.
This module covers: Who buys recruitment businesses? What do they look for? How they are valued? Entrepreneurs relief and incentives for sale, the due diligence process and the importance of preparation.
Finance best practice
This final part brings all of our learnings together to create an easy to follow structure to achieve finance best practice in your recruitment business.