📢LAST CHANCE TO REGISTER for the ScaleUp Institute and British Business Bank #ScaleUpFinance event this Wednesday!

📌MK:U Innovation Hub,  #MiltonKeynes
🗓️Wednesday, 8th May 2024
⏰10.00am - 12.30pm

scaleupinstitute.org.uk/scaleup-financ………

Bettany Centre for Entrepreneurship Cranfield University Cranfield Management Protospace

Tips for Setting up Your Finance Function 👇

📢STILL TIME TO REGISTER for the ScaleUp Institute and British Business Bank #ScaleUpFinance event next week!

📌MK:U Innovation Hub,  #Milton Keynes
🗓️Wednesday, 8th May 2024
⏰10.00am - 12.30pm

scaleupinstitute.org.uk/scaleup-financ……

Bettany Centre for Entrepreneurship Cranfield University Cranfield Management Protospace

Which currency do you use the most? And why?

Budgeting, forecasting & reporting

Give your company a boost where others fall short. Fuel your growth with access to custom budgeting, forecasting and management reporting.

Startups seeking funding must do more than present a vision; they need to establish trust by demonstrating a clear path to a return on investment through solid numbers, not just words and slides.

FYI: Always compare the rate on offer with the live mid-market exchange rate. Especially if the provider is claiming 'free transfers' 🔎

With the average turnaround time between funding rounds escalating to over 2 years5, it’s never too early to get your finances in order, and startups who invest in building out a sound finance function will stand the best chance at securing the biggest portion of available funds.

To achieve a high probability for success, startups need to establish sound financial management right from the start and measure the metrics necessary to deliver insightful reporting. Advancing the finance function to this degree, requires the dedicated services of a CFO.

Your financial model will rely on forward-looking projections based on several key questions:

• How many leads will I generate?
• How many of these leads will I convert?
• How big will the average order be?
• What is my average overhead cost per pound of revenue?

In the early stages, startups need to carefully manage initial spending and capital acquisitions to attract investors. As the company grows, financial experts play a crucial role in monitoring key metrics and ensuring targets are met to set the company up for ongoing success.

While the expense associated with hiring an internal professional is likely to be cost prohibitive for early-stage startups, founders can achieve the same goals by seeking outside help. By hiring financial professionals, experienced with startups, companies set a sound foundation