Project Description
Manufacturing SME Start-Up
In addition to designing financial, accounting, and business plans for a newly formed start up, the support provided by the CAIM expert solidified the financial credibility in the eyes of suppliers and bankers.
Problem:
The original business overextended itself, and ceased trading.
A small group of people from the original company decided to start a new business to take advantage of the unsatisfied demand vacated by the closed business.
The team had prospects, and sales and manufacturing expertise but lacked financial and administration expertise.
Solution:
Expert from CAIM joined as a non-executive director providing part-time finance and administration expertise as well as financial credibility with bankers, suppliers, and creditors.
Action:
- Full financial plan with five-year plan prepared to demonstrate the viability of the business
- The CAIM expert secured a substantial line of credit invoice discounting providers for the new business.
- Favourable supplier credit terms were negotiated by the CAIM expert.
- Favourable terms secured on a lease of premises, credit insurance, and other issues that emerge starting a business.
- Bookkeeper recruited and trained.
- A system designed for outputting reports extracting the costs and revenues for each custom manufacturing project.
Results:
At the end of the first year, the company was profitable and running smoothly, the involvement of CAIM expert ended happily.
In addition to designing financial, accounting, and business plans for a newly formed start up, the support provided by the CAIM expert solidified the financial credibility in the eyes of suppliers and bankers.