If You Don't Give, You Won't Get - Use the Technology

According to new research from the Forum of Private Business whilst almost a third of the businesses surveyed relied on standard credit checks to monitor their own customers and suppliers, only thirteen per cent of them were prepared to provide their own latest management accounts to outside parties. And only six per cent were willing to supply their own audited accounts.

With respect, I have to say that in the present economic climate, that isn't a good stance to adopt. Anyone who wants credit or finance today must be willing and able to produce accurate up-to-date management accounts.

Because if you don't give, it's unlikely that you'll ever get.

Any accountant can produce management accounts for you - but you'll find it a lot cheaper to look at any one of the many, many, computer programmes or on-line systems that will allow you to produce them internally.

Use the technology!