How to keep on top of your business finances

This session will be taking place in person at the British Library's Business & IP Centre.

Understanding business finances is easily the biggest pain when setting up or growing a business, but it is vital for start-ups and small businesses to maximise their growth potential. This workshop aims to demystify financial jargon, empower entrepreneurs to manage their numbers confidently, and effectively communicate with investors and stakeholders.

In this session led by Johnny Martin, an experienced Finance Director, you will gain essential financial knowledge and skills to drive business success. Topics covered include:

• Understanding the 3 key financial objectives (profit, cash, and funding), the key reports (income statement, cashflow and balance sheet) and the 36 key words you need to know.
• Demystifying financial jargon and key accounting principles.
• Exploring the role of accounting systems like Xero, QuickBooks, and FreeAgent.
• Differentiating between management accounts and statutory accounts.
• Learning the importance of gross profit margin and regular cash flow updates.
• Understanding how to record, report and analyse your business numbers.
• The importance of developing a financial routine.

Additional tools for attendees:

Attendees will also get access to the following resources to support their learning and understanding:

• Talk Money – 90-minute e-learning course which goes over the key reports and accounting principles
• A guide to understanding business numbers – a PDF explaining business finance in as few steps as possible.

Host or Publisher British Library, Business & IP Centre