03/20/11 by Mark | Blog | No Comments »
MI or Management Information is vital to running, developing and growing a successful organisation.
So what is MI?
Management Information is the lifeblood of the business, or it should be. It should take the form of analysing both financial and non-financial aspects of the business and allows the user to quickly and easily understand the performance of the business or aspect of the business into which they are concerned or responsible.
Is your MI sharp and to the point?
How is it used?
Traditionally this took the form of quarterly or if we were lucky, monthly management accounts comprising of a Profit and Loss account, Balance sheet and in exceptional circumstances a Cashflow statement! The problem was that this information was often provided long after the event and performance dating back 2 or 3 months was irrelevant, especially in a fast moving market and economy. Times have changed and continue to do so. We no longer help businesses prepare the bare minimum of information to indicate the success or failure of recent months. Instead it is a rather interactive affair, whereby our clients can access data in a fast, timely and relevant way and presented in an interactive graphical and tabular format to ensure the end user understands the data being presented.
Who says it is important?
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02/15/11 by Mark | Blog | No Comments »
Latest update RPI for February rises to 5.5%, CPI rises to 4.4%.
Wow – we expected inflation to increase in December, but by 40 basis points is slightly alarming, and a further 30 basis points in January!
With the Bank of Englands target firmly set at 2%, CPI is now running at 4.0% (up from 3.3% in November and 3.7% in December). RPI has now reached 5.1%.
So how do the Government intend on “controlling” inflation?
The main controlling mechanism is through increasing the Bank of England base Interest rate, which has been at 0.5% since March 2009. The concern is that an increase in this rate, will impact many areas of the economy, which could push the UK back towards a recession…..is the double dip on its way?
The risks of increased rates will kerb individuals spending, thereby slowing the economy in general. As mortgage rates, loan rates and credit card debt will become more expensive, individuals will have less to spend. Businesses will see their borrowing costs increase, together with the potential for reduced sales as consumer demand falls.
Inflation has increased the most on areas such as Heating Oil (up 48%), Air travel (up 13.5%) and Petrol/Diesel (up 12.9%) in the last 12 months. These categories have a significant knock on impact to all areas of the economy. Undoubtedly transport affects almost all businesses and certainly all consumers. This all means that costs increase for businesses and for individuals, meaning less disposable cash. This together with the rising prices of products consumed, such as food & drink, mean that individuals will feel the pinch in 2011.
The big question: Is the cure more harmful than the cause?
If Inflation is left uncontrolled, it could push the country back into recession. If interest rates increase, it could have the same effect.
In our opinion – the Bank of England will leave interest rates static for the next 6 months, preferring that the economy’s self control mechanism will kick in. Now that VAT has increased, people will have advanced spending into 2010, thereby demand will now decrease. If demand dips, the economy will naturally contract, thereby bringing inflation under control. All this together with the natural contraction in the economy, we believe inflation will correct itself if left alone.
We have been assisting many of our clients with pricing strategies and decisions. If you require a full and detailed analysis of your pricing, profitability by product, forecasts or sales analysis, please contact us for a free initial meeting.
02/06/11 by Mark | News | No Comments »
Mint welcomes its first recruit.
James Carter joins Mint Consult on February 1st 2011 through the Project Evolve scheme run by the UEA.
James joins following his Masters in Business Management and obtaining his degree in Mathematics and Economics from the University of East Anglia. James brings with him excellent analytical and computing skills together with a flair for business. James commented “I am excited about this opportunity and the potential which Mint is able offer”.
James will be involved in all aspects of the business, focussing on developing an understanding of the benefits which Mint Consult can deliver to businesses in East Anglia.
02/01/11 by Mark | News | No Comments »
Mint Consult arrives in Norwich, with our new home being at St Faiths House, Mountergate, Norwich.
We are located just a 5 minute walk from the train station and within easy walking distance of the city centre. The new office location will allow Mint to work more closely with our clients, improve our service offering through growing the team and crucially provide the Company with its first dedicated office space.
Our thanks go to our fantastic neighbours for their support – Norfolk Network & NAME
View a map of our location here
01/02/11 by Mark | Portfolio | Comments Off on Universally Speaking
A global company offering translation and quality assurance services to large software developers within the computer games industry.
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12/19/10 by Mark | News | No Comments »
Insight is a specific service designed to present business owners with financial and non-financial information. Providing quick, easy and concise information at your fingertips to help you respond faster.
Fresh Thinking | Strategic Advice | Measurable Results
12/19/10 by Mark | Blog | No Comments »
Have you ever wanted an easy to use word cloud?
This Word Cloud provides a succinct analysis of the services we offer. We find them really useful for summarising our clients most important strategic actions.
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12/08/10 by Mark | News | No Comments »
We have an exciting opportunity available for a graduate intern commencing in the New Year. Read more about it here
11/30/10 by Mark | Portfolio | Comments Off on Active Technologies Limited
Active Technologies, based at the Hethel Engineering Centre, are an engineering design company that specialises in problem solving. Working in aerospace, automotive, marine, renewables, oil and gas industries.
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11/25/10 by Mark | Blog | No Comments »
Christmas is only 30 working days away – how will your business be affected?
Research suggests that October is the busiest month of the year with the highest volume of invoices being generated. With this in mind and many businesses continuing to experience cashflow challenges, the collection of cash on these invoices is vital to managing your working capital.
Christmas puts pressure on staffing levels with holidays, post-party headaches and festive emails along with an increase in personal contacts. These factors, combined with a general wind-down, may threaten the collection of cash. With only 18 working days in December, the pressure is high to collect cash from potentially your busiest month of the year.
6 tips to reduce the risk of bad debts:
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