By Andrea Bradley
Benefits of performance benchmarking.
Performance benchmarking can provide powerful information to help you grow and improve your business. It can help to clarify where improvements can be made, assist in setting measurable targets as well as encourage development and improvement across your business.
Small businesses incorporating benchmarking as part of their planning process, are more likely to see an increase in sales and profitability compared to those who fail to benchmark. Identifying benchmarks, analysing the data to illuminate areas for improvement and establishing standards to improve these results, will assist you to focus your efforts on areas which will have a clear impact on your financial bottom line.
WDF Professional subscribes to a benchmarking platform which enables us to benchmark your financial data against industry peers across a range of areas including profitability, productivity and key financial ratios. This benchmarking platform currently offers data for over 90 industries.
A WDF Professional benchmark report will provide you with insightful information and statistical analysis to help you make improved business decisions. If you are interested, please contact your WDF Professional team.
Director
The value of cashflow forecasting for your business
Remaining in control of the cash coming into (and going out of) the business is the real focus, so you can accurately predict your financial position and can resolve any issues. Read More…
Could the surcharge ban on card transactions help your business?
Paying the required surcharges on debit card transactions made by your customers is an operational cost that many business owners would love to see disappear. The Government is proposing banning these surcharges from January 2026. Read More…
How can small businesses compete with the big chains?
How can your small business compete with the big multinationals? Here’s how to maximise your boutique appeal to retain existing customers and draw in new ones. Read More…