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    How your accountant can support you in growing your business

    Growing a business is an exciting time, but it can also be incredibly demanding. Have you considered speaking to your accountant to understand how they can help with this? You may be surprised to find out just how many opportunities exist and how much assistance is available to help with the growth of your business.

    At PM+M we understand that everyone’s growth plans will be completely unique, however, when we are approached by a business to assist with their growth, we will take them through a number of steps to gain a detailed understanding of their current position. Firstly, reviewing a business’ tax position to identify whether additional reliefs could be claimed is a great place to start. We’d look to minimise any tax liabilities in other ways, perhaps through a VAT health check or restructure of the business if appropriate and beneficial. Any tax savings could then be reinvested into the business, providing a great financial support to your growth strategy.

    When looking at growth options, we’ll often introduce the business to our corporate finance team; they can help with the strategic business planning, obtain funding, complete mergers and acquisitions, and also value the business. Even if you don’t intend to sell or acquire right now, having access to this support can be useful and help you set realistic growth objectives going forward. We also have the expertise of a financial planning team who can help you and your family to effectively plan for the future in a way that suits you, providing advice on pensions, investments, retirement planning and lifetime cashflow planning.

    Every day, businesses can face various financial risks, from economic downturns to unexpected expenses, security threats, and more. We can help you develop risk management strategies and contingency plans to safeguard the financial stability of your business and ensure you are able to reach your long-term objectives.

    Ultimately, we are here to provide peace of mind, knowing your finances are in good hands means you can free up time to focus on other areas of your businesses, support your team, focus on personal projects, or even go on holiday without missing any vital deadlines! We can also provide an “outsider’s” perspective on your business, often helping you to see the bigger picture which in turn will have a positive impact on your financial planning and progress towards your ultimate goals.

    Finally, our team can do a full business review and help with accounting matters such as identifying any bad debts, monitoring cash flow and addressing any financial issues which may be present. By having a clear and detailed picture of your business’ cash position, which we can easily identify for you using cloud accounting software, you can realistically forecast and look towards the future of your business.

    At PM+M, we support clients with all of the above and much more. If you are considering growing your business, we would be delighted to help – please get in touch for a more detailed and confidential discussion.

    For more information about anything in the above article, please get in touch using the button below.
    Judith Dugdale
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