Telling the truth about SME life today

Lord Sugar and the banks

Living on diet of nicotine, beta blockers, red wine and Beechams. Aware I cannot do this forever!

Thankfully my accountant’s in today so able to concentrate on doing my management accounts. Not very keen on valuing the stock and crumbling machinery. Much keener on looking at monthly profit and loss.   Was highly amused to hear Lord Sugar speaking on the subject earlier in week. He said Lloyds Bank had taught him a great deal in his early days. They looked at the stock and machinery (and valued it at nil), looked at the book debts (and valued them at 50 per cent), then looked at the real cash. From there, they took the value of the business.   Will be studying our spending versus billing as closely as ever this month.



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