What is the Instant Profit First Assessment?
The Instant Profit First Assessment is a free, quick check of the everyday money habits behind a healthy business. It gives UK business owners a simple score from 1 to 5, highlights the area that deserves attention first and suggests one practical next step. It is an indication to help you ask better questions, not a set of accounts or personal financial advice.
What does it check?
The assessment uses seven practical figures to compare what is really happening with useful Profit First starting points: annual sales, direct job costs, average monthly owner pay, monthly running costs, monthly tax savings, the expected annual tax bill and any extra-profit rainy-day pot. It shows actual pounds, target pounds, the gap and what to change.
How does it work?
- Enter seven figures from your bookkeeping, latest accounts or a sensible estimate.
- Monthly owner pay, running costs, tax savings and extra profit are annualised.
- The assessment compares those actual amounts with starting points based on the money left after direct job costs.
- You receive a practical result, tax shortfall and one clear next step.
The public check does not ask for a full trial balance or upload documents. More detailed financial work should use current records and take the business's circumstances into account.
Plain English, not an accounting test
You do not need to understand ratios or accounting labels. Each question explains what to include and where to find it. The assessment uses the actual figures supplied rather than guessing from habits or broad revenue ranges.
Who is it for?
It is designed for UK sole traders, company directors and small business owners who make sales but are not always sure how much money the business is truly keeping. It can be useful when tax bills feel stressful, owner pay changes each month, costs are hard to see, or profit only appears if something happens to remain at the end. Businesses with established habits can also use it as a quick sense check.
What should I do with my result?
Begin with the quick win rather than trying to change everything at once. If you want to understand the wider method, read about Gro's Profit First accountancy service. For help applying the result to your own business, book a free meeting with Gro.
Frequently asked questions
Is the assessment free?
Yes. There is no charge to complete the check and receive the result.
Do I need my accounts?
Your bookkeeping or latest accounts will make the figures easier to find, but sensible estimates are accepted. Each question includes a plain-English “Where do I find this?” explanation.
Is the score financial or tax advice?
No. It is a general indication based only on the answers selected. It cannot account for every tax rule, debt, cash commitment or personal circumstance.
Is this just a scorecard?
No. The score is secondary. The main result shows actual and target pounds for extra profit, owner pay, tax and running costs, together with the gap and the change to make.
What is Profit First?
Profit First is a cash management framework created by author Mike Michalowicz. It encourages business owners to make profit intentional and organise available money by purpose. Gro's approach combines that framework with professional UK accountancy support.
Who created this assessment?
The assessment is provided by Gro Profit First Accountants. Founder Stephen Edwards FCCA is a Certified Profit First Professional. Profit First was created by Mike Michalowicz; Gro is an independent certified firm using the framework.