Financial peace of mind for SMES: how to keep your numbers under control in 30 minutes a week
May 2025 - As an entrepreneur, you do everything you can to keep your business financially sound. Yet managing numbers on a daily basis can be overwhelming. By devoting just 30 minutes each week to a structured financial check, you can proactively respond to developments and run your business with confidence. Below is a practical roadmap to tackle this efficiently.
1. Preparation (5 minutes)
Start by collecting all the necessary financial documents and data. This includes bank statements, invoices, receipts and access to your accounting software. Having organised records speeds up the process and avoids unnecessary delays.
2. Cash flow overview (10 minutes)
Check the current state of your bank accounts and cash. Note the incoming and outgoing cash flows for the past week and compare them with your expectations. Note notable deviations and identify any bottlenecks. A positive cash flow balance is essential for the continuity of your business.
3. Debtor and creditor management (5 minutes)
Check outstanding invoices:
Debtors: Which customers haven't paid yet? Send friendly reminders for invoices that are almost or just past due.
Creditors: Which suppliers still need to be paid? Schedule timely payments to maintain good relationships and avoid possible penalties.
4. Cost analysis (5 minutes)
Evaluate last week's expenses. Were any unforeseen costs incurred? Can certain expenses be reduced or eliminated? By regularly analysing your costs, you will identify savings opportunities faster that will increase your profitability.
5. Looking ahead and planning (5 minutes)
Anticipate financial commitments and expected income for the coming weeks:
Are there any major expenses planned? Think VAT returns, supplier invoices or investments.
Are you expecting payments from customers? Check payment deadlines and send timely reminders.
By planning ahead, you can estimate any deficits or surpluses and make timely adjustments. This way, you keep everything firmly under control, even in the longer term.
By reserving half an hour each week for this financial overview, you create a routine that provides insight into and control over your SME's financial situation. Thanks to this proactive attitude, you avoid surprises and steadily build sustainable growth.
