GENIC Business First

40 Tilehurst Road

Cheam

Surrey SM3 8PB

T: 07775 652 728 E: info@genicbusinessfirst.co.uk

www.genicbusinessfirst.co.uk

For immediate release

14th March 2016

PRESS RELEASE

Over 70% of small business owners from Surrey said they do not intend to conduct a business review

April is a month when new financial years start for small businesses and the previous month ought to be a time when owners of these businesses ought to conduct a financial business review but that doesn’t appear to be the case.

Over 70% of small business owners from Surrey said they do not intend to conduct a business review before their new financial year of their businesses according to a survey conducted by GENIC Business First.

‘Some small business owners suffer from the ostrich effect. They prefer to bury their heads in the ground rather than review how their businesses have performed. If they did [conduct a review] they could identify weaknesses in their businesses and plan ahead to minimise against threats which are likely to impact their businesses in the next financial year.’ suggested a spokesperson at GENIC Business First.

Profit and loss and balance sheets from the past financial year reveal valuable insights into a business’ past performance. They provide the required data to measure for e.g. how effective a business is turning its assets into cash in order to meets it short term obligations as well as other key performance metrics.

A financial business review is a wise decision in the current climate because of the potential negative impact on UK businesses caused by U.S. political instability, global economic fears and the upcoming EU referendum on the British economy (BDO Business Trends Survey). A review can assess how fit a business is against these potential threats.

GENIC Business First, itself a business in Surrey, is launching a financial review business package specifically for small businesses in Surrey with 50% off their normal price. They conduct a thorough assessment of a business’ financial statements and deliver a detailed report with recommendations. If you would like to

learn more about the package, please visit their website at www.genicbusinessfirst.co.uk.

About GENIC Business First

GENIC Business First delivers management accountancy and marketing analysis and planning services to small and medium sized businesses throughout Surrey and Greater London. They have Chartered Management Accountant and Marketer status and they have over twenty years of experience in management accountancy and marketing in various industry sectors which include charities, telecoms and oil.

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