Digital Businesses Must Put Firm Foundations In Place

April 27, 2018

By Stephen Slater, Director of Commercial Services at RMT Accountants & Business Advisors

The knowledge economy has become increasingly important to the North East in the last decade, but it’s as vital for ambitious digital and creative businesses as it is for companies in any sector with big plans for the future to keep their feet on the ground while they’re reaching for the stars.

The basic rules of good business practice and structure apply to every SME, regardless of the sector within which it operates, and will be the building blocks on which their future long-term success will be based.

A clear understanding of resources that will be needed as the company’s initial business plan is implemented and the cost of bringing them in is essential, while an appreciation of the eternal commercial facts that ‘cash is king’ and ‘turnover doesn’t equal profit’ is just as vital.

Gaining access to the sort of financial knowledge and development advice that will help North East start-up and early stage tech businesses isn’t always easy, which is why RMT Accountants & Business Advisors signed up to Generator’s Digital Futures coaching programme.

We have a great deal of experience of working with new and early-stage tech businesses that have gone on to achieve great success partly thanks to the initial plans they put in place to prepare for and manage it.
Early access to the sort of support and advice that we are able to offer can help SMEs quickly turn potential into viable products and services from which then follow commercial success and new employment opportunities.

The Digital Futures coaching programme is an excellent initiative that is providing direct benefits to the North East economy, and we’re excited at the opportunities that it offers to both growing regional firms and ourselves.

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