Business Plans & Forecasting

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Assisting In Your Future

It is essential to have a realistic, ongoing business plan whether you are starting up a business or planning the future of an established business.

A business plan is a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecasts. It has many functions, from securing external funding to identifying milestones and measuring success within your business.

There are significant benefits to creating and managing a realistic business plan, these include:

To help you spot potential pitfalls before they happen
Structure the financial side of your business efficiently
Focus your efforts on developing your business
Work as a measure of your success

Many people only think of a business plan as a document used to secure external funding. This aspect is important because potential investors, including banks, may invest in your business, work with you or lend you money as a result of the strength of your plan.

However it is important that you remember your business plan will help you monitor your performance and stay on track and will therefore need updating and changing as your business grows. Whether you intend to use your plan internally, or as a document for external people, you need to take an objective and honest look at your business.

When preparing a business plan for an ongoing business it is advisable to link the forecasts into the management accounting process and review appropriate milestones and financial variances from forecasts on a regular basis. This procedure enables you to identify areas that need corrective action and assist in the updating of the overall business plan.

At Garratts we can advise and assist you in the preparation of your business plan, financial forecasts, management accounts and even attend your management meetings to provide an independent overview of the business to assist you in its future development.

Independent Specialists

Offering unbiased ‘whole of market’ accounting and financial solutions.

Long-Term Business Partners

Helping to achieve growth and success, whatever the nature of the business.

Our Services

Accurate financial information and pragmatic advice is fundamental to the success of any business. Our inherent corporate culture coupled with a totally professional service provides our clients with an extra dimension, whatever their business.

Our focus is on our business philosophies - working partnerships, total commitment. These, coupled with resourcefulness, when applied dynamically, achieve growth and success, whatever the nature of the business.

The success of these philosophies has enabled Garratts to become one of the region’s largest independent professional service practices, primarily through client recommendations. From offices at the financial heart of Wolverhampton, a dedicated team of over twenty professionals serves a client base that ranges from small and new businesses to privately owned medium sized companies across all areas of business and commerce.

Accountancy

Seamless, reliable and quality accounts preparation for all sizes of business, including sole traders, partnerships and limited companies.

Corporate Finance

Our team of experienced financial advisers can provide you with a fast and effective solution for your finance and investment needs.

Financial Planning

We work with a team of IFAs, who can provide you with impartial independent financial advice regarding a wide range of  investments and pensions.

Specialist Sectors

Covering all aspects of tax relief, capital gains and subsidies across a range of sectors including medical, manufacturing, agriculture and construction.

What Our Clients Say

“ We have used Garratts for Tax Advice and the submitting of our returns to the I.R. for many years now. Apart from the efficient way in which the returns have been done it has been re-assuring to have always dealt with one accountant and to be easily able to reach her for advice when necessary. ”

Chris & Annette - Flints Partnership

“ Starting my own business was a very exciting time for me until I encountered book keeping and VAT etc., it then became very daunting but, big thanks to Garratts who explained every aspect to me in plain English so much so that I am now more than confident to keep my own accounts for my business. Not only do I consider Garratts part of my company I consider them as friends. ”

Joseph Farrow - JF Tiling Ltd.

“ After a number of years using ‘One of the Big Four’ Accountancy firms, we moved to Garratts more than a decade ago and we have been delighted with the service we’ve received. Our Company has seen a good deal of change – we’ve been through the highs and lows of the economic cycle, we’ve sold trading divisions, we’ve moved into new areas of business and we’ve expanded significantly.

Keeping control, keeping an understanding of our financial situation and keeping on top of our statutory obligations has certainly not become any easier over that time. Our relationship with Garratts has been very important to us. We get a highly professional service from faces we know well and well informed opinion and all for a very competitive price. I’m very pleased to recommend the firm to others. ”

Tim Edwards, Chariman - Boningale Ltd.

“ Since our introduction to Garratts back in 2002 when we formed the company, they have provided the tailored level of service that we needed throughout out our period of growth over the next few years. This led to the formation of another business which again Garratts formed for us and have continued to look after as we have grown in the ever difficult market sector in which we exist.

Through Garratts total understanding of the different businesses they are best placed to provide us with efficient and tax optimising solutions as we concentrate on the main activities of the businesses while always providing the day to day advice and input as and when required. ”

Mark Owen, MD - ARO Properties Ltd. & DKM Homes Ltd.

ICAEW Chartered Accountants

If you're thinking of using the services of an accountant you should look for someone who has a professional qualification; always check what qualifications and experience they have. Appointing an ICAEW Chartered Accountant or regulated firm will ensure you get someone who is qualified, committed and accountable.