To avoid this, some savvy business owners are learning where to cut their costs and how to better manage their cash from the experts at The Local Bookkeeper, a leading bookkeeping and management accounts firm.

Qualified bookkeepers at The Local Bookkeeper are applying their expert knowledge to the finances of businesses across the UK to steer them away from collapse and towards fast growth. They do this by producing regular reports that are easy to understand that allow business owners to easily identify what processes should to be introduced to improve their situation dramatically.

They also keep their clients up to date on any legislation changes and researches for any government help that they can apply for like the Enterprise Finance Guarantee Scheme that is designed to enable businesses to secure loans of between £1,000 and £1,000,000.

Alex King, Managing Director of The Local Bookkeeper, tells us what we should be looking out for: “Business owners should not use their profit or turnover as a key indicator of your businesses success, it is the management of their cash, how much they have to pay and how much is owed to them.”

“I am working hard to devise strategies to show my clients how they can increase their income and decrease their outgoings from regular management accounts that will give you a breakdown of your finances. These reports make it easy to see where the effective cuts can be made and where business owners should be focusing their efforts to turnaround their finances and make sure they come out of the other side of this recession fighting fit.”

About us: The Local Bookkeeper is a leading bookkeeping and financial management firm that specialises in small- to medium-sized businesses.

Contact: Felicity Plowman

Further information can be obtained from The Local Bookkeeper website: http://www.thelocalbookkeeper.co.uk , or by calling 0845 862 1078