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Specialist company formation benefits, access to FSB networking, business banking and a range of products to help get you setup in business.
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Whatever your circumstances, we have a package to suit you and your business. Click the button below to see which benefits are included in each package and start your FSB journey.
'Within a few weeks of joining we'd taken advantage of FSB’s Online Legal Documents. We started a graduate programme and access to these documents gave us an understanding of the legal side, and has helped us to create a number of processes and procedures.'
'When we first took on a member of staff, we used the online legal document template library. FSB does more important stuff than you think it does, there are lots of member benefits, probably more than we actually use.'
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We represent a diverse range of businesses from retailers to marketing agencies and just about everything in between. Take a look at more member stories and see how we could help your business fly.
More Member Stories
We offer three packages to suit your business needs. Joining FSB Connect is free, our Business Essentials package starts at £172.50 in the first year and our specialist Business Creation package has an introductory price of £99 in the first year.
Conducting a financial health check can uncover a great deal about your business, from understanding the most profitable parts to determining the areas making you a loss. The results can help you shape and define the development of your business for the better.
From analysing cash flow, forecasts and costings to reviewing customers, expenses, budgets and loans, the findings of a financial health check can help your business in many ways. This post explains how.
Opportunities for growth and better business decisions
A key advantage of the results of a financial health check is that it can accent opportunities for growth, from increasing your workforce and equipment to expanding your services and infrastructure.
By analysing your past and current business performance, you can know exactly where the opportunities for growth are and adapt your business plan to determine the best course of action.
The results can also help you make better business decisions to ensure you don’t operate at a loss. This could involve adjusting your long-term goals or adapting the day-to-day management of your company.
Your financial health check results can also help you decide which customers and clients you should do more, or less, business with, like when it comes to renewing contracts.
You can determine those customers who are making you the most money, those where there are more opportunities to use your services, and those making you a loss – where it may be best to draw your business dealings to a close. This could include clients where project hours far outweigh your fees, or those proving unreliable, due to missing payment deadlines or delaying projects.
Results concerning your supplier costs might also suggest it’s best you look elsewhere for alternative providers. This could be the case if, for instance, their rising costs are heavily impacting your business.
The results of a financial health check can show you which of your products and services are most profitable. The findings can help you to focus and invest on those stronger services, or make a decision to take your attention away from products costing your business too much.
They can also help you with adjusting your product prices or defining a better pricing strategy. Knowing details about your breakeven point – the total cost of producing your products or services – for instance, can confirm it’s sensible for you to adjust the prices of your more popular products to meet rising costs.
Fully understanding which of your expenses have the greatest impact on your company can help you consider which are best to increase or cut. Perhaps your marketing is contributing to a healthy proportion of your growing customer base, so it would be worth increasing your budget. In contrast, perhaps your monthly client visits aren’t beneficial and proving costly, so they could be reduced.
Checking the impact of, say, your high-interest business loans might also suggest it’s better to look elsewhere for better banking deals. Alternatively, you might discover your growing cash flow far exceeds your financial forecasts, so you have enough money for a bigger loan to invest in those profitable areas of your company.
In addition to all this, the results of a health check on your finances can help you become more organised in your business planning, such as preparing for the unexpected. For instance, making sure you have sufficient savings to operate your company in an emergency.
Your findings can also encourage you to be more observant, take a cleverer approach to your business strategy and keep track of all areas of your business. This could include choosing to conduct tighter reviews of your customers or monitoring your equipment, services and products more carefully.
We know the importance of a financial health check and the benefits they can bring a business. So we’re pleased to offer one free to members when they join FSB.
By having this health check, you can have the key information to develop and improve your business. To help with this, our team of experts provide:
If you would to like to learn more about our advisory services to check your company’s financial health, please visit our FSB Financial Healthcheck web page or get in touch with our dedicated team.
FSB Financial Healthcheck has been providing unbiased, independent sound advice on personal and corporate finance for over 20 years.
National Federation of Self Employed & Small Businesses LimitedSir Frank Whittle Way / Blackpool / FY4 2FE. National Federation of Self Employed & Small Businesses Limited (FSB) is registered in England, number 1263540