Running a small business means making big decisions, especially when it comes to finances. From managing cash flow to improving credit scores and finding the right loan, staying on top of your finances can be challenging. That’s why it’s helpful to have the right financial advice at your fingertips. Menna, an AI-powered finance assistant, offers expert, real-time financial advice tailored for small businesses in the UK. Here’s some essential small business finance advice—and how Menna can help.
1. Keep Track of Cash Flow
One of the biggest challenges small businesses face is cash flow management. Understanding when money comes in and goes out is crucial to avoiding shortfalls. But it’s easy to get lost in spreadsheets and numbers.
How Menna Can Help
Menna helps you monitor cash flow in real time, tracking your income and expenses so you always know where your finances stand. If you subscribe to Menna Plus, you’ll also get access to Cash Flow Forecasts, which help you plan ahead and make sure you’re financially prepared for both the busy and slower months.
2. Set Financial Goals
Setting clear financial goals is key to business growth. Whether you want to save a certain amount each quarter, reduce expenses, or invest in new equipment, having goals gives you something to aim for and helps keep you focused.
How Menna Can Help
Menna allows you to set Custom Goals and Alerts so you can monitor your progress and stay on track. If you’re aiming to increase savings or reduce spending, Menna will alert you if you’re close to meeting (or missing) your targets, helping you make adjustments as needed.
3. Improve Your Business Credit Score
A good credit score can make it easier to secure loans and access better financing options. Building and maintaining a strong credit profile can open up more growth opportunities and ensure you’re prepared for any financial bumps along the way.
How Menna Can Help
With Menna’s Credit Builder feature in the Plus plan, you’ll get tips on how to improve your credit score and guidance on managing debt. Menna provides insights on timely payments, credit utilisation, and other factors that impact your score, helping you gradually build a solid credit profile.
4. Explore Funding Options
Whether it’s a short-term loan for cash flow or a larger loan for expansion, finding the right funding is important. But with so many options out there, it’s often hard to know what’s best for your business.
How Menna Can Help
Menna provides guidance on different funding options available for small businesses in the UK. By assessing your needs, Menna can help you narrow down your choices and provide tips on finding a loan that fits your goals. Plus, with Menna’s real-time advice, you can get answers to questions about eligibility, terms, and interest rates without waiting for a consultation.
5. Monitor Expenses Closely
Keeping expenses under control is key to maintaining a healthy bottom line. Regularly reviewing your spending habits and cutting unnecessary costs can free up resources for areas that need it most.
How Menna Can Help
Menna tracks your expenses, allowing you to spot spending patterns and identify areas where you could cut back. This helps you make quick, informed decisions on where to save and where to invest in your business. Menna’s real-time tracking gives you the clarity to adjust your spending whenever necessary.
6. Use Technology to Your Advantage
Smart technology can make a big difference for small businesses, helping you streamline finances and improve your overall efficiency.
How Menna Can Help
Menna combines the latest AI technology with financial expertise to provide small businesses with a finance assistant that’s easy to use and always available. Menna helps you stay organised and gives you access to expert advice without the need for costly consultants.
Why Menna?
Menna is designed to support small businesses in the UK with their everyday financial needs. It’s free to get started, and for those who want extra support, Menna Plus offers added benefits for just £15 a month. With features like Cash Flow Forecasts, Credit Builder, Custom Goals and Alerts, and Unlimited Bank Account integration, Menna is here to help your business grow sustainably.
Frequently Asked Questions
What is Menna, and how does it help with small business finances?
Menna is an AI-powered finance assistant designed to help UK small businesses manage finances more effectively. It offers real-time support on cash flow tracking, credit building, and finding funding options, making financial management simpler and more accessible.
Is Menna free to use?
Yes, Menna offers a free version with essential financial guidance. For those wanting more advanced features, there’s Menna Plus, available for £15 a month, which includes Cash Flow Forecasts, Credit Builder, Custom Goals, Unlimited Bank Accounts, and exclusive offers.
How can Menna help with managing cash flow?
Menna helps track your income and expenses in real-time, giving you a clear picture of your cash flow. With Menna Plus, you also get Cash Flow Forecasts, helping you plan for future expenses and financial needs.
What features does Menna offer for improving my business credit score?
Menna provides guidance on improving your credit profile by offering tips on timely payments, managing debts, and monitoring credit usage. Menna Plus users also have access to the Credit Builder feature, which provides additional support for maintaining a strong credit score.
Can Menna help me find the right business loan?
Yes, Menna offers advice on different funding options tailored to small business needs. By assessing your requirements, Menna can guide you to loan options that fit your goals and budget, plus offer tips on eligibility and terms.
