ACCESS TO THE

LATEST , UP-TO- DATE FINANCIAL DATA IS CRUCIAL

FOR A & BS TO DO PRECISE

PROJECTIONS , ALLOWING

STAKEHOLDERS TO MAKE

INFORMED CHOICES AND CONFIDENTLY

NAVIGATE REGULATORY

SHIFTS .

Pivotal then to preparing for any policy change lies in accurate financial planning . Access to the latest , up-to-date financial data is crucial for A & Bs to do precise projections , allowing stakeholders to make informed choices and confidently navigate regulatory shifts .

The cash flow dilemma

The number one concern for SMBs is cash flow and it remains the biggest challenge during times of legislative change . The scale of the problem is huge but , all too often , businesses are operating in the dark with poor or incomplete data .

The number of company insolvencies in the UK rose 14 % in Q4 2023 compared to the previous year and was the highest quarter since Q4 2008 . Cash flow is a major factor and has become a growing concern in a post- COVID , post-Brexit climate .

Late payments are at the forefront of the issue and the previous government stated that paying small businesses on time could boost the economy by £ 2.5 billion annually . Promisingly , Labour promised to clamp down on late payments in its manifesto with packages designed to help entrepreneurs and SMB owners . This could include the enforcement of stricter penalties for companies that delay payments or introducing government programmes offering loans , grants or tax breaks , which can ease cash flow challenges . It ’ s imperative that we see these policies come to fruition but that could take time and these won ’ t be a quick fix .

A new wave of compliance ?

Whilst the new Chancellor is yet to confirm a budget or any changes to tax policy , the Labour government has pledged to implement policies that prioritise workers ’ rights , improve

38 intelligent

. tech

Intelligent SME . tech