Business strategic evaluation
When a company commences there should be a clear vision about what the business strategy should be and how this will be achieved. In addition there should be a time horizon on growing the business with specific objectives in mind, including eventually the option to exit, whether by sale or ceasing. A business should re-evaluate its strategy every few years or more frequently to assess if the vision remains valid, or needs to be adapted to changing internal or external factors.
MW Interim Finance assists owner managers and directors in an objective review of their strategy and provides the resource to deliver on the changes identified.
For further information or a confidential discussion about your specific requirements, please contact Martin Walby FCMA CGMA on 07876 566875 or email
Following the budget last week there is good and bad news for companies, with SME owners and shareholders given mixed messages for their future growth strategies.
For example; the reduction in corporation tax is a boost, as is the permanent annual investment allowance of £200k and the increase in the national insurance employment allowance, however this is set against increases in the national living wage and a fundamental change in the way dividends are taxed, even with a new £5k dividend allowance. Payment of corporation tax for larger companies is being brought forward and insurance premium tax increases also impact operational business costs.
The staging dates for the auto-enrolment of all businesses have been issued by the Pensions Regulator and for many SMEs this is now becoming a critical planning activity, with the associated costs of employer contributions. Allied to this is the pension freedoms for those over 55, how this may impact the plans of those working in companies and the potential skill shortages once they retire. In addition, some SME owners may want to re-assess their pension contributions, especially where tax allowances may restrict contributions, and exit strategies as part of their business planning activities.
The budget has provided a myriad of changes for the coming years and even more complexity for businesses, especially SMEs, and using an interim business partner to review your company’s business plans and potential scenarios for the future from an objective viewpoint is beneficial.
MW Interim Finance delivers independent interim financial and business partnering support to SMEs and larger corporates, either on a full-time project or part-time basis, working with directors and owners to deliver operational and strategic objectives.
For further information or a confidential discussion about your specific requirements, please contact Martin Walby FCMA CGMA on + 44 (0) 7876 566875 or email email@example.com
In April 2015 the much publicised changes in pension flexibility are due to come into force and there has been much media and other commentary on the likely choices individuals may make. Some people could choose; a flexible drawdown approach, review whether annuities still provide the best option, fund other pensions from income from another pension, (within statutory limits), or even “blow the lot” on an expensive car, luxury home or fritter away on other activities such as holidays. In the latter case it must be noted that the balance of pension withdrawn, over and above the tax free maximum of 25%, will be added to any other income earned and taxed at the relevant marginal rate.
If you have reached or are approaching retirement age then there could be interesting decisions to be made, assuming that a significant “pension pot” has been accrued. For those in their twenties and thirties there is some attractiveness to being able to access a pension more flexibly, however the age at which they will be able to do this may well be moved upwards by successive governments.
A more interesting point is for businesses that possibly will have a number of the senior management team approaching retirement age or perhaps considering early retirement. If succession planning has not been part of a company’s risk strategy or no attention has been paid to the replacement of key personnel, then potentially critical business knowledge will depart with those retiring. There could be a significant loss to businesses of all sizes over the next couple of years if the risk and business plans of a company do not address pension flexibility.
MW Interim Finance can assist you in compiling or reviewing your business / risk plan in key commercial areas of your business, in addition to providing an independent CFO/FD resource on an interim basis. For further information or a confidential discussion about your specific requirements, please contact Martin Walby FCMA CGMA on + 44 (0) 7876 566875 or email firstname.lastname@example.org
Remember remember the 5th November………………………..but do not forget that the UK standard rate of VAT is rising to 20% on 4th January 2011.
Is your business prepared for;- the impact on internal accounting and IT system changes, pricing of goods and services, costs of purchases and related cash flows, updating budgets and business plans, margin and profitability expectations. Businesses should plan now and make the necessary changes and review their forecasts well in advance of the run up to Christmas holiday period to avoid cash flow surprises in the first quarter of 2011.