As the summer winds down, August is the perfect time for businesses to refocus and get back on track. Whether you’ve taken a summer break or just experienced a seasonal slowdown, the start of Q3 is a golden opportunity to assess your financial health and make informed decisions that set your business up for a strong second half of the year.
At Beckett Taylor, your trusted Chartered Accountant in Essex, we help business owners take stock, make strategic adjustments, and move forward with clarity. Here’s how a financial health check can benefit your business — and how our team can support your success.
Why Q3 Matters
Quarter 3 is often underestimated, but it’s one of the most crucial periods in the business calendar. You’re far enough into the year to spot trends and performance gaps, yet there’s still time to implement changes before the year-end rush. A financial health check in August can help you:
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Review past performance
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Adjust forecasts and budgets
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Plan for tax liabilities
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Prepare for seasonal shifts in demand
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Strengthen your cash flow position
Step-by-Step Financial Health Check
1. Review Year-to-Date Performance
Start by analysing your financial performance so far. Compare your actual income and expenses against your Q1 and Q2 forecasts. Where did you overspend? Which areas performed better or worse than expected? A chartered accountant in Essex can help you break this down and identify actionable insights.
2. Revisit Your Budget and Forecast
If your financial performance has deviated from your original plan, now is the time to adjust your budget and cash flow forecast. With the right support from a financial advisor in Essex, you can reallocate resources, shift priorities, and make data-backed decisions that drive growth.
3. Evaluate Profit Margins
Are your profit margins shrinking? A financial health check can help you identify areas where costs can be trimmed without cutting quality. As part of our business advisory service, we work with SMEs to improve pricing strategies and cost structures — helping you become more profitable.
4. Assess Tax Position and Plan Ahead
Avoid last-minute tax stress by reviewing your current tax position now. Q3 is the right time to look at VAT liabilities, corporation tax estimates, and any available allowances. Our tax planning service ensures you stay compliant and take advantage of any tax-saving opportunities available.
5. Monitor Cash Flow and Debtors
Late payments can choke business growth. Use Q3 to tighten up credit control, chase aged debtors, and build a more predictable cash flow model. Our team helps businesses streamline invoicing, improve collections, and implement cloud accounting tools for real-time visibility.
How Beckett Taylor Can Help
As a leading chartered accountant in Essex, Beckett Taylor goes beyond bookkeeping and compliance. We partner with business owners across industries — including construction, retail, and professional services — to help them grow, not just survive.
Our combined approach to accounting and financial advisor services gives you access to expert insights, tailored growth strategies, and actionable advice to scale your business. Whether you’re looking to expand your operations, improve profitability, or get your finances in shape for funding, we can support you every step of the way.
Ready to Reboot Your Business Strategy?
Don’t let the second half of the year slip by. A financial health check now can save you time, money, and stress later — while helping you achieve your business goals faster.
Contact Beckett Taylor today to speak with an experienced financial advisor in Essex or to book a consultation with a chartered accountant who understands your industry and your ambitions.
Let’s get your business back on track — and ready to thrive in Q3 and beyond.