How healthy is your business?

You may have clients and a hard-working team, but that doesn’t mean your salon business is enjoying optimum health. However, thanks to a new initiative from Business Link, you can give your business a check-up with its nifty new tool. Developed in association with the Institute of Chartered Accountants in England & Wales and the British Bankers’ Association, the Business Health Check will allow businesses to assess whether they are fighting fit or in need of urgent remedy.The online tool requires business owners to answer a series of detailed questions on the issues that affect their cash flow, such as wage bills, stock, administration and sales projections. The results are collated into a report on the business’s overall health, highlighting problem areas and potential risks as well as areas that could be improved. “Whether they are starting up or looking to expand, businesses should always make managing finances and cash flow a priority,” said portal editor for BusinessLink.gov.uk, Jonathan Hollow. “The Business Health Check tool shines a spotlight onto areas they need to focus on, making them aware of the problems and helping them avoid financial pitfalls.”