The initial months of running a business are all about survival. It’s often once the first year or two is over that business owners start to realise that there are gaps in their knowledge and experience that they need to fill.
That’s where we come in!
No-one sets up in business to be an expert in tax, and similarly very few set up in business to learn how to set up cash flow forecasts, budgets, or business plans. Yet, as a business expands, the owner finds they have questions in areas they’ve never considered.
We can offer a broad range of additional consultancy services that support a developing business.
Examples of these are listed below, with links to areas where you can find further information around the site, but this list isn’t exhaustive. There are many, many ways in which an experienced Accountant with the breadth of experience that we have can provide help to a business beyond what you’d perhaps expect.
The need for those services usually comes at a point of change within a business.
Knowing which direction to take at those key decision points, knowing which options to consider to finance the next stage of development, or just how to achieve those goals that have proved elusive so far, can all be uppermost in the mind of directors or partners when they call us.
Maintaining or improving previous growth or profit levels, developing new markets, succession or disposal and of course hanging on to key personnel are all areas that can cause sleepless nights, rising pressure and increasing stress levels. There are many more!
It can be hard to ensure that, as a business owner, you’ve considered all the options.
Have you missed something? Is there an easier / cheaper / more efficient way?
There are very few situations within a business that we haven’t seen (or experienced first hand!) over the years, and we’re very happy to share the benefit of that experience.
Our Business Growth services can work alongside our more conventional accountancy services, or can stand alone.
If you already have a good relationship with your accountant that’s working well and providing you with the support and information you need to run your business, that’s great! We’re very happy with work with both parties to help the business move forward.
Our Additional Services
Business Finance Support
Research and Development Tax Credits
Business Valuation, Purchase and Sale
Business Plans and Cash Flow Forecasts
Strategic Planning and Review
Exit & Succession Planning
Enterprise Management Incentive (EMI) Share Schemes
Enterprise Investment Schemes (EIS) and Seed Enterprise Investment Schemes (SEIS)
We can help you
Using our commercial experience and the various tools, techniques and services that we can draw on, we can help a wide range of businesses.
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If you’d like to know more about how we help businesses with their accounts, visit our Accountancy Services page.
I’d like to reward key members of my team – is there a way to do this?
Yes, there are lots of options. If they’re properly structured they can help you reward and retain those key people. Bonuses, Profit share schemes and EMI schemes might all help, but offer different benefits. An EMI scheme requires a longer tie-in for the individual which might also be helpful. Bear in mind that these schemes will all affect the Budgets of your business, which may also affect your choice of the most suitable option.
I’d like to slowly start to work less in the business, and pass more of the day to day responsibilities to my children, and eventually pass ownership to them. What are the key things to think about as we structure that process, and devise a timeline to work to?
This will depend on your particular circumstances, but there are some generic considerations to start with, as follows:
- Document all of the work that’s currently done in the business, so that you can plan how to pass those details on to your children. You’ll want to make sure nothing gets missed!
- Consider how long you will all need at each stage to think and implement your plans. We all adapt at different rates so you’ll each need to be patient with each other and make sure no-one feels rushed or overly stretched to make important and long standing decisions.
- Your children’s knowledge of the business or industry may have gaps, and there may be additional skills they need. They won’t have your long experience, though they may well have grown up around the business.
- Will your contacts and customers need time and reassurance of your children’s knowledge and ability? How can you overcome that?
- Does your business need to finance your retirement into the future, or do you have adequate funds to do that externally? If you need a lump sum at a date when you finally exit, how will that be funded?
What is strategic planning and how could it help my business?
Strategic Planning is a way in which a business decides how it will move forward. It’s a process that looks at the strengths, weaknesses, resources available, and the opportunities and limitations it may face.
Through the process, future goals are set, which feed into an operational plan for the business, and milestones that need to be hit along the way are identified. Clear and measurable objectives can be set, against which performance and success can be monitored.
The resulting plan can be shared throughout the larger team, either in part or in full. Regular reviews should be conducted between the plan and progress towards the end goal.
Can I just say we are so pleased that we have moved to Baranov Associates. As we discussed when you visited, we had to find a way to take the stress out of all of the financials and you’re doing that for us!
We can see how to use Xero more efficiently and so with us being as on top of it as we can be and with you and Liz we feel a lot more confident about our business being in good shape.Mrs S James, Sandbanks Capital Partners Limited
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