What a business health check measures
Being busy is not the same as being healthy. A business can have full order books and still run short of cash, miss tax deadlines or lose money on its best-selling product. A health check steps back from the day-to-day and asks whether you have a clear view of the numbers that keep a business alive.
This check looks at six areas: profit, assets and value, cash flow, getting paid, expenses, and taxes and compliance. Each question tests whether you know the figure, not just whether the figure is good.
Signs your finances need attention
- You cannot say what profit you made last month without guessing.
- A low bank balance has caught you by surprise.
- Late payments from clients regularly squeeze your cash.
- Expenses are recorded in bursts rather than as they happen.
- Tax time is stressful because nothing has been set aside.
If two or more of these sound familiar, your report will show where to start. Tools like our break-even calculator and income statement generator can help with the first fixes.
How the check works
Work through the questions one area at a time; most need only a yes or no, and two ask for rough monthly figures. When you finish, add your email, business name and industry. Your answers are analyzed and the report is emailed to you within a few minutes.
Take the check again every few months to see whether things are improving. Businesses that use Tyms get these answers every day, because their books and reports stay current.