Looking forward with knowledge of the past
Many entrepreneurs are used to submitting their administration to their adviser on a quarterly basis. The figures are then known a month later, the sales tax return is taken care of, and it often ends there. This is different at NOAB offices.
Often they have linked the bank transactions to the administration of the entrepreneur, so that the transactions are collected every night and are ready for further processing.
If the entrepreneur makes his invoices, both sales and purchase, available to his advisor immediately after receipt, his administration is actually updated every day. Once a month or per quarter, “being there” is enough for the SME entrepreneur.
Based on the figures, it is then possible to discuss periodically with the entrepreneur what his near future might look like. We call this a “forecast”. The consultant can then draw up a forecast based on the past and the discussion with the entrepreneur. This makes possible challenges immediately clear. On the one hand, challenges may be the possible future payment problems as a result of declining turnover and profit, but also the possible payment problems as a result of the growth of the company, as a result of which additional financing is necessary to realize this growth.
A NOAB office is often the ideal advisor for this. They themselves are also SME entrepreneurs and therefore know the necessity of both looking backwards and forwards. They know the language of the SME entrepreneur. If you have a company with less than 12 million turnover and / or less than 50 employees, you are always right with one NOAB office.
Perry Telle