Monthly Archives: November 2018

Christmas present appeal 2018

 

 

 

 

 

 

In 2010, we launched the first ever PM+M Christmas present appeal where our team, clients and friends were asked to donate Christmas presents for local vulnerable children. Due to the success and generosity over the past eight years we have decided to run the appeal again.

Over the next few weeks we’ll be collecting gifts for Blackburn, Burnley and Bury Children’s Services and want to make it our biggest year ever!

If you are able to spare a little time and money, we know your donations will be greatly appreciated. For some children, this could be the only gift they receive this Christmas. Gifts can be for children of any age or gender and we have included a few guidelines below:

  • Gifts should be to the value of around £10
  • Gifts must be new
  • Gifts can either be wrapped or unwrapped
  • If wrapped, gifts should be clearly marked with gender and age range
  • Gifts should not contain confectionery or alcohol

Gifts can be dropped off at our any of our offices between 8:30am and 5pm. The last day for drop off is Thursday 13 December.

The PM+M team would like to take this opportunity to thank you for your kindness and generosity and we do hope that as many of you as possible will join us in supporting such a worthy cause.

A reminder of our office addresses are below. Should you require any further information, please get in touch with our marketing team on 01254 679131.

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PM+M wins Professional, Legal and Financial award for the second year running at Made in Bury Business Awards

Today all of us here at PM+M are celebrating after winning the Professional, Legal and Financial award for the second year running at the prestigious Made in Bury Business Awards.

The Made in Bury Business Awards (which took place last night – Thursday 22 November) are held to champion local Bury businesses and celebrate their outstanding achievements. This is the sixth year the awards have been staged, and entries were judged by a high-profile panel which included some of the borough’s leading business professionals.

Along with being crowned as best Professional, Legal and Financial firm in Bury, we are pleased to confirm that PM+M was also highly commended in two other categories – Excellence in Developing People (for our dedication and commitment to supporting and encouraging our team to exceed), and Businesswoman of the Year (in which PM+M partner Helen Clayton was shortlisted).

As the leader of PM+M’s Bury office, Helen has played an integral part in PM+M’s success over the past few years, and under Helen’s direction, PM+M has become a leading figure in Bury’s business scene.

Helen said: “As our Bury office goes from strength to strength, I am so proud of the PM+M team and the success we have had in Bury since setting up the new office just over two years ago. Winning this award for a second year really does demonstrate our commitment to the Bury community which we serve. We will of course continue to develop and will hopefully be back to enter Made in Bury Business Awards next year and fingers crossed we will walk away with a third success story!”

Jim Akrill – corporate finance partner at PM+M discusses why shareholders need to plan for the future

Jim, what is one of the most common questions you ask your corporate clients?
There are many but one of the most important is:  What would you like to achieve and how are you going to do it? It is always surprising to find how many look not much further forward than next week when they need to be thinking longer term.

What is the problem?
Well, we often see a reality gap between the current position of the business and the value aspirations of the shareholders. Not only that, but the thoughts of individual shareholders on matters such as strategy and value realisation also vary. Needless to say, if you have disagreement at the top then the business is more likely to underperform. And some of the changes required might not be overnight fixes. It’s often the “elephant in the room” syndrome.

How do you overcome that?
These things need to be discussed openly and often they are not, especially in family businesses. Shareholders must be encouraged to produce a plan to deliver both business and personal objectives which can only be done through honest dialogue. We work with business owners to resolve various issues, including those relating to growth, exit and succession.

When should the process start?
It’s never too early to start, so now. And it doesn’t just apply to more mature businesses. For example, we are working with a new, high growth software business and already talking about how to realise value for the shareholders.

What does the process involve?
We begin with a strategic review which looks at shareholder aspirations for the business, and ultimately themselves, as well as assessing business performance. Significant issues can be identified and we can start to work with shareholders to agree a shared vision for the future. For some businesses a sale might be the best way forward. For others it might be a question of re-focusing and making changes to create additional value.

How challenging is it?
It depends! Some businesses face more difficult circumstances than others and you can imagine how challenging shareholder dynamics can be. We work in partnership with shareholders to create achievable action plans. Being part of a larger accountancy practice also allows us to tap into other skilled professionals from within the firm. So, for example, we will work closely with our tax and wealth management colleagues to ensure that all angles are considered. This provides reassurance for our clients.

If you would like to discuss how you can plan for the future, please contact our Corporate Finance Partner, Jim Akrill, on 01254 604353 or via email at jim.akrill@pmm.co.uk.