It's easy to get caught up running your business, especially during this time of year. So, Morse Group have put together these 3 easy steps to help give your business the edge in the new financial year.

Business Financial Health Checks

EOFY is always a good time to review your business's health. Looking at financial statements, working out its liquidity, solvency, profitability and return on investment, and comparing these results with previous annual figures will inevitably unveil some interesting insights into strengths, weaknesses, opportunities and threats to your business

Strategic Plans

Now that we know our strengths, weakness, threats and opportunities from a business perspective we can use this information to revisit our strategic plan. This should involve an analysis of the market and predictions on future developments.

It is important that your strategic plan reflects the objectives you, as the business owner, have for your business and your personal life.

Budget for the new Financial Year

It sounds simple, but you would be surprised at the number of businesses that do not do a budget, and if you're wondering where to begin with what to budget for and how much, refer back to your strategic plan. In turn, this will highlight where resources are required and assess your strategic plans viability.


Businesses that run well use this sort of planning and information during crucial financial periods in order to improve their financial outlook. If you need help improving your financial outlook for the new financial year contact Morse Group Accountants & Advisors today.