If your month-end reporting drags on and forecasts consistently miss the mark, the problem rarely lies with individual staff. More often, the issue is structural. Across UK SMEs and mid-market businesses, several common factors explain why the finance function struggles to deliver timely, reliable numbers.

In late 2024, surveys revealed record-low business confidence, with only half of small firms expecting stable or rising revenues. In response, many small businesses are turning to the structure and financial clarity a controller brings. Let’s explore how controllers deliver value across the most critical areas of an SME’s financial operations.

Financial reporting is a cornerstone of any successful small business. It means keeping accurate, up-to-date records of every transaction and having a clear system to track income, expenses and profit. This involves producing regular statements (like profit-and-loss reports, balance sheets and cash flow statements) that are easy to understand. With this foundation, every pound is accounted for and the owner always knows the company’s financial position.

If you run a small-to-medium-sized (SME) business, there's a valuable ally you might want to consider bringing aboard–a financial controller. In the following extensive blog post, we're embarking on a thorough exploration of financial controllers–their vital responsibilities, their profound importance, and the tangible impact they wield within the realm of SMEs.

Financial statements record everything that happened during a certain time period and enables owners to analyse the financial health of their organisation as well as the internal and external processes of the company. Let us look at how financial statements can be key to a company’s growth.