Running a business can be a rollercoaster, with times of natural growth and times where you need to react and change to keep your business efficient and profitable. For those difficult times, Laura Hicks from Jola Strategic is here to help, bringing experience, expertise, and energy to support business owners through turbulent times.
Laura, welcome to the ICKG family! Can you tell us a bit about Jola Strategic and what services you offer?
Thank you! I’m a Freelance Finance Director, providing support for SMEs in Essex & London. I save business owners and managers time and money by restoring financial stability and delivering targets.
I work closely with each business, identifying where change needs to happen, providing a monthly performance review and coordinating answers to questions like “why have we spent more on marketing this year” and “why are salaries 10% more than planned”.
I access funding, prepare budgets and forecasts, develop KPIs and ensure the leaders understand their numbers!
Tell us a bit about you and your background? What led to you starting your own business?
I trained as a Chartered Accountant many years ago, a result of wanting an office job, being good with numbers, and not wanting to work Saturdays (I was offered a job at an estate agents).
Having worked in accountancy for 10 years I knew I had a passion for the commercial side of business, so I moved to “the other side”, as Financial Controller for Melton Energy, supporting a group of renewable power stations across the UK.
During this time, I had my son Josh and, wanting to work closer to home, I joined Arc Legal group as Finance Director in 2016.
Being my own boss was always on the cards and, after some straight-talking from a friend, I took the leap of faith and left Arc and began building my consultancy. This was October 2019, and we all know what happened in 2020; to say my resilience was tested is an understatement!
Tell us a bit about your customers – what kinds of businesses do you work with and what problems are you helping them solve?
I work with SME business owners and leaders, typically with a turnover of £1m – £20m. Clients span across many sectors, including not-for-profits organisations, construction, retail, financial services and creative industries.
The key problem is when a business is in need of change, but doesn’t necessarily have the financial knowledge required, whether it’s due to declining results, challenging growth plans, or perhaps a change in ownership.
Do you see any recurring issues in the businesses you work with? Do you have any general advice to business owners who might be reading this?
People and processes! Most businesses struggle with recruiting and retaining a strong team, and inefficient processes are very common too. Currently I’m seeing cash flow issues, partly as a knock on effect of the COVID government support which now needs repaying.
What attracted you to become an ICKG Member and what do you enjoy about being based in the Centre?
I’ve spent a lot of time at the centre over the years, with clients and business partners and I guess the time was right. Being around fellow founders and having the support is essential, it can be lonely on your own! I have a Dedicated Desk in an shared office with other like-minded business founders. I’ve found I share more on a daily basis, like when you’re frustrated and get off the phone and have a little rant, it helps. I like helping the others too, we are a mini team.
The real benefit for me is regular mentoring, I have a fortnightly session with the Innovation Director which keeps me on track with developing my business.
What’s next on the horizon for Jola Strategic?
I’m keen to continue to support more businesses, I feel unfortunately there are many who are currently just surviving. The sooner they act, the sooner they can grow their businesses and profits, and I am here to help that happen!
Find out more about Jola Strategic by visiting their website
—
Find out more about our office space solutions, or contact us at info@innovationcentre-kg.co.uk or 01206 405 50.
