Updegrove McDaniel McMullen & Chiccehitto, PLC serves a diverse group of clients and represents a broad scope of industries. This, combined with our more than 40 years of experience, ensures we are an excellent choice when you need tax, accounting, and financial strategic planning services.
Business Assessment & Strategic Solutions
Updegrove McDaniel McMullen & Chiccehitto, PLC (UMMC) developed a comprehensive checklist to assess your business’s strengths and identify areas that need improvement such as:
- Improving processes to create efficiencies
- Managing risk
- Establishing internal controls
- Compliance with Federal, State, and Local regulations
- HR and employee benefits
The business assessment reviews the five most critical metrics for success: liquidity, profits & profit margin, sales, borrowing, and assets.
As part of our service, UMMC works closely with you and provides strategic solutions that will improve your business’s performance.
Comparing your company’s performance to that of other companies in your industry can help you to identify areas of your business that need attention. If your competition is experiencing healthy growth and increased sales and your company is not–UMMC can provide the insight you need. We provide a report using your company’s financial data to compare performance to your industry peers.
This engagement can be done independently of other services provided by UMMC but when it is done in conjunction with the Business Assessment–we can provide valuable insight into areas of your business that need improvement so your business can thrive.
New Business Consulting
In business it is critical that you start off correctly with a solid foundation. Unfortunately, many business owners begin with a great idea but don’t have the time or technical knowledge to set up, implement, and maintain the practical, legal, and regulatory components of a business. UMMC can help. We put our business and financial insight and experience to work for you.
Updegrove McDaniel McMullen & Chiccehitto, PLC can help you make the right start-up decisions including:
- Creating a business plan
- Choosing the right entity type that will be most beneficial from a tax standpoint while limiting your personal liability
- Determining your capital needs and identifying sources of start-up capital
- Selecting and setting up the proper accounting software
Once initial decisions are made UMMC can help with implementation and ongoing support including:
- Developing processes and procedures that ensure efficient operation of your business
- Creating a reporting system to monitor and control costs and evaluate the progress of your business
- Preparing the application for your Federal and State Employer ID numbers and advising you of other licensing and permit requirements
- Assessing potential risks and recommending procedures to minimize risk including identifying your business insurance needs
UMMC has a broad range of resources at our fingertips to help you. We have established long-term working relationships with professionals in related areas who can work with us as a team for your business if/as needed.
Let Updegrove McDaniel McMullen & Chiccehitto, PLC help you launch and manage your business correctly.