Tandem Blog - Business Health Check

Annual Business Health Check

One of the key services we offer at Tandem Business Solutions is an Annual Business Health Check.

Health is something we all focus on at some point, whether it being for ourselves or businesses.

As the saying goes,” we only know what we know!”

So again, I am talking about reviewing your business accounts!

Why does my business need an Annual Business Health Check?

An annual financial business health check is like giving your company a financial wellness exam, ensuring everything is in tip-top shape. It helps you understand your financial performance, spotting both strengths and areas needing a bit of TLC. By catching potential financial risks early, you can proactively address them, keeping your business secure and stable. This check-up ensures your activities align with your goals and that you’re following all the necessary regulations, avoiding any nasty surprises. It also helps with better decision-making by providing insights into cash flow, profitability, and investment opportunities.

Overall, this friendly financial check equips your business with the knowledge needed for smart planning, growth, and long-term success.

 What are the drivers we should be considering for a Business Health Check?

When conducting a Business Health Check, it’s crucial to focus on several key drivers that provide a comprehensive overview of your company’s financial health. Here are the primary drivers to consider:


  • Revenue
    – a summary of revenues
  • Profitability-
    a summary of profitability
  • Bank & Assets
    – a summary of bank & assets


  • Market Conditions
    – a summary of the market conditions for the term of the report
  • Projections
    – a summary for future projections
  • People
    – how particular team or persons have impacted results.
    – any key CAPEX or future CAPEX planned.


  • Revenue
  • – a summary of recommendations for future revenue targets/requirements
  • Margins
    – recommendations for future revenue targets/requirements
  • Profit
    – recommendations for profitability targets and impacts
  • People
    – recommendations for staffing, and any important key hires/departures
  • Strategic
    – recommendations to adjusting or improving the company strategy.
  • Overheads
    – recommendations for reducing/improving overheads, or any abnormal expenditures.
  • Tax
    – recommendations for tax & requirements in future

A Tandem Business Health Check in summary

As you can see the health check comprises an annual review of the P&L and Balance Sheet reports.

These are just the key points that we use in our health checks, to enable business owners to understand how healthy their business really is.

By focusing on these drivers, you can gain a detailed understanding of your financial health and identify areas where improvements are needed to ensure stability and growth.

Our health check is very comprehensive, but if you wished to carry out your own checks I would suggest as a minimum to review the Highlights section.
I would also review this on a quarterly basis rather than annually.

If you would like to find out more about giving your business a health check, please book a discovery call at BOOK A CALL at the top of this website.

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