This webinar will help those who thinking of selling their business. MHA Larking Gowen Corporate Finance Experts James Lay and Jack Minns will discuss the following areas:
Minimising your tax on the sale proceeds (with speaker Richard Proctor, Tax Partner at MHA Larking Gowen)
Post-sale matters – ongoing consultancy and earn-out arrangements.
Hear genuine insights from a recent seller (with guest speaker David Holland from Salix River & Wetland Services Ltd)
When? 28 July, 12pm – 1pm
You can register for the other webinars in the series here;
Part one – Planning for selling your business in 2020 and beyond, here – Tuesday 14 July, 12pm – 1pm
Part two – How to sell your business, here – Tuesday 21 July, 12pm – 1pm
The team at Face to Face Finance is very excited to be kicking off our new Your Recipe for Financial Success podcast with a virtual launch party – and you’re all invited!
We’ve love it if you could join us to celebrate as we officially launch our new personal finance podcast. Your Recipe for Financial Success is a place where you will learn which ingredients you need in your mixing bowl to whip up a delicious slice of financial success. Expect practical advice, tips and plenty of baking puns as the team share some of their expertise so you can make sure your money is working hard for you.
Given the current limitations, the launch party will be live streamed on YouTube. We’ll pour in some laughs, mix them with your company and decorate the evening with a few surprises.
PLUS there are FREE mini-bottles of bubbly for the first 40 people to sign up so we can toast the launch of our podcast together. Be sure to get on the guestlist early!
To secure your place, simply visit https://www.recipeforfinancialsuccess.co.uk/launch-party/ to submit your details. We will then send you the link to join us on the morning of the 28th July. If you have signed up, remember to check your inbox!
Maintaining a positive cashflow within your company can be a challenge – it is something most financial leaders are managing regularly, always looking for ways to help ensure consistency. A negative cashflow situation can be caused by a variety of factors, particularly in the current economic environment. Overdue payments, higher overheads and fewer clients can all affect cashflow.
Forecasting
Planning and budgeting are the best ways to ensure your cashflow stays healthy. Of course, unforeseen circumstances occur, but budgets can be updated to keep control.
Make sure cashflow is monitored and tightly controlled, as this will provide a better outcome.
Keep accounts up to date, including bank reconciliations and prepare monthly or quarterly management accounts to ensure you always have meaningful up to date figures to work with.
Payment terms
Many companies often have generous payment terms, but there is nothing to stop these from being amended. Your business could encourage faster payment terms if longer ones are beginning to cause a problem. Online invoicing also helps with cashflow as it encourages faster online settlement and issues automated reminders.
Adjust accounts payable
If your company needs more time to settle its supplier accounts, you could request extended payment terms. This isn’t ideal for the other suppliers’ cash flow of course, but generally if your cashflow is under extreme pressure, they would rather be paid slower than see you go out of business. It’s worth making contact to try to establish more flexible payment terms.
Conserve company cash
One of the biggest expenditures for a business is its staff bill. Regarding salaries and pay incentives, consider non-cash benefits for employees. Offering additional holiday entitlement and flexible working arrangements doesn’t add to the wage bill but might be highly valued by employees and will therefore help reduce costs.
Increase expenditure controls
It’s perfectly reasonable and in fact, necessary to review expenditure controls to maintain cashflow.
Consider increasing expenditure control procedures and reducing limits. Ensure there are clear budgets set while maintaining some flexibility. Often, just the introduction of a process will usually reduce unnecessary expenditure.
Build up reserves
It might sound like a cliché, but there is a lot of value in ‘fixing the roof whilst the sun is shining’ and ensuring that you do not overspend when cash is flowing well. Try to retain cash within the business to ensure there is a rainy-day fund, because there will always be hurdles to overcome in the future. Remember, a regular customer could go out of business, another pandemic could occur, or an inflation hike might happen.
Retaining funds can limit the risks to your business overall. If you do have a rainy-day fund, make sure you are receiving the best rate of interest available.
If you need help managing cashflow in your business, please contact a member of the Beatons Group by calling 01473 659777 or by visiting the Beatons website.
New all-electric Lotus Hyper-SUV – Eletre – wins prestigious award from world’s leading fashion and lifestyle publication
GQ’s judges cited Eletre’s power, range and styling among attributes which set it apart
Advanced ‘digital cockpit’ cabin with Lotus Hyper OS usher in new era of in-car experience
Available in Eletre, Eletre S and Eletre R variants, flagship Eletre R is world’s fastest dual-motor electric SUV
The all-new Lotus Eletre hyper-SUV has claimed victory in GQ magazine’s Car Of The Year awards, winning the prestigious ‘SUV Of The Year’ title. Selected annually by GQ’s panel of design, lifestyle and automotive experts, the awards honour vehicles from a diverse range of categories which are ‘inspiring, interesting, have automotive integrity and get the pulse racing.’
As both the first SUV and the first production EV in Lotus’ 75-year history, the Eletre marks the start of an exciting and electrified new chapter for the business and brand. Its newcomer status proved no hindrance in a crowded field of contenders, with the Eletre seeing off stiff competition from many of the world’s well-established SUV manufacturers.
In summarising the Eletre’s winning traits, the GQ judges concluded: “The premium electric SUV sector is filling up faster than you can say ‘recession-proof’ with all the automotive big beasts vying for attention, but none have grabbed our attention like Lotus.”
Ben Payne, Chief Creative Officer, Lotus, said: “From the very first discussions about what the Eletre should be, our vision was to deliver a unique and highly desirable car that would demonstrate to the world what the EV future of Lotus would stand for. As an SUV, it will bring a completely new audience to the brand – a lifestyle customer. To be recognised for that by GQ, a globally renowned lifestyle publication, is a great honour.”
Matthew Hill, Head of Interior Design, Lotus Tech Creative Centre, with GQ magazine’s ‘SUV of the Year’ award for the Lotus Eletre.
The all-new, all-electric SUV is set to hit roads later this year, with thousands of customers around the world having already placed their deposits to secure a car. Three different versions are available – Eletre, Eletre S and Eletre R – with a choice of two powertrains.
Eletre and Eletre S both feature a 603hp (450kw) single-speed unit producing 710Nm of torque to deliver a 0-62mph time of 4.5 seconds and a maximum range of 373 miles. The flagship Eletre R comes equipped with a 905hp (675kw) dual-speed set-up boasting 985Nm for 0-62mph in just 2.95 seconds, making it the world’s fastest pure electric dual-motor SUV. Maximum range for this performance-oriented variant is 304 miles, while the 112kWh battery found in all versions can be charged (10%-80%) in just 20 minutes using a rapid charger.
Inside, the Eletre’s premium cabin sets a new standard of desirability for Lotus interiors. The Eletre comes with 12-way electrically adjustable front seats, four-zone automatic climate control, Apple CarPlay/Android Auto, wireless phone charging and much more. Its advanced ‘digital cockpit’ features server-level computing power, enabling a billion-colour OLED touchscreen to display the cutting-edge Lotus Hyper OS for next-generation real-time 3D content.
Immersion is further enhanced by a 15-speaker KEF Premium Audio system. Customers can upgrade to KEF Reference, a 2,160-watt 23-speaker system with Uni-Q and 3D surround sound technology. KEF Reference also features Uni-Core, a pioneering new approach to speaker and subwoofer design, and the Eletre marks its debut in the automotive world.
The Eletre also comes with renowned immersive audio experience Dolby Atmos, a new way to enjoy music that takes listening to new heights through unparalleled depth, precision and clarity. Together, Dolby Atmos and the Eletre’s KEF speaker system combine to elevate music listening to new levels. Driver and passengers will feel like they’re sitting in the middle of the recording studio alongside the artist. The Eletre is the world’s first car to combine Dolby Atmos and KEF Audio.
In the UK the Eletre is priced from £89,500, with a standard spec including five drive modes, active air suspension, torque vectoring, matrix LED headlights, active front grille and 10-spoke 22-inch forged wheels.
During the free-to-attend webinar, guest panellists from leading organisations in the Tourism, Leisure and Hospitality sector will discuss key questions:
• What’s the latest in the road to recovery?
• What are the staffing practicalities around returning to work?
• How do you manage customer expectations?
• What are the risks and rewards of opening?
• What are the key challenges ahead and how can you plan for them?
The webinar will offer genuine insight from businesses with information to help roadmap the future and what it means for the sector. As part of the live webinar, the audience will be invited to ask questions to the panel, making it a truly interactive and discussion-led event.
Building the right infrastructure to scale your business with the NatWest Accelerator Hub
About this Event
Building the right infrastructure to scale your business
2 people, 2 channels of communication…3 people, 6 channels…4 people, 24 channels – as your business grows, so too does its complexity. As the business leader, you need to plan and develop your building blocks.
This session will focus on the people, platforms and processes that you need to consider when scaling your business.
What will it cover?
– The right people, processes, and capacity to grow
– When to invest in infrastructure
– Understand what step you need to put in place to scale
– Q&A Session with Jenny Campbell
This is a Zoom webinar – details will be sent in your confirmation email. You will find it at the bottom of the email, in ‘Additional Details’. The meeting is password protected and must be accessed using the encrypted link.
Carole, Charlotte and the whole team at MAD-HR are delighted to share the news that we have been recognised with a prestigious Feefo Platinum Trusted Service Award.
The accolade is an independent seal of excellence, which is awarded to businesses that consistently deliver a world-class customer experience.
It comes just months after we received the Suffolk Business Award for ‘Customer Excellence’, which again acknowledged our high level of client service.
Carole said: “We’re delighted to receive a Platinum Trusted Service Award from Feefo.
“Ensuring our customers are happy with our service is very much a priority in all we do at MAD-HR. We live up to our name in wanting to ‘Make a Difference’.
“The fact this award is based on feedback from real customers gives us confidence we are providing an exceptional level of service, and this has of course been recently highlighted in a different way – by us winning the Suffolk award for Customer Excellence.”
She added: “The award also recognises just how hard our entire team have worked under fresh challenges, with both rising inflation and the cost-of-living crisis affecting both consumers and businesses alike.
We will continue to be working very closely with our clients throughout 2023 and listening carefully to how the landscape is changing for them, and what adaptations they may need to ensure our service is as perfect a fit as it can be, for their unique needs.”
Congratulating MAD-HR, Tony Wheble, CEO at Feefo, said: “This year has been a difficult one for so many businesses. I’m delighted to recognise thousands of our clients that have overcome various challenges to provide such high levels of customer service and satisfaction.
“The Trusted Service Awards have always been about recognising companies that go way beyond the norm in customer service and in turn receive great feedback from delighted customers.
“A particular congratulations to MAD-HR for winning a Platinum Trusted Service Award by providing great customer service consistently over a number of years. I look forward to seeing them continue to achieve next year and beyond.”
Feefo established the Trusted Service Awards in 2014 to recognise brands that use the platform to collect verified reviews and receive exceptional feedback from their customers. The awards are unique because they truly reflect a business’s dedication to providing outstanding customer service by analysing feedback from real customers.
Working with over 6,000 brands, Feefo is the world’s largest provider of verified reviews, helping brands understand customers by analysing verified reviews and providing insight into trends, needs and habits.
If you’d like to know more about our team, and what it is which ensures our stand-out level of customer service, please visit our website or drop us an email.
Several academics at UEA have been contributing to research and intelligence support during the Covid19 crisis within the local health economy of Norfolk. Many local NHS and NCC representatives have said that they have found the contributions very helpful and that they have made a big impact on the response to the virus by the hospital executive teams, other local health providers and planners. The multidisciplinary research approach has been an excellent example of the role that universities can play in their local communities, fostering collaboration at the local level. To celebrate this work we will be running an 80 minute virtual event where some key academics will share their work and highlights with a wider audience.
The event will run with the following sessions:
What happened: Prof Ric Fordham
What we did: Pete Best, Dr George Xydopoulos, Tim Winters
What we found: Prof Paul Hunter, Prof Alastair Grant, Dr Carlota Grossi-Sampedro
What we learned: Prof Kristian Bowles, Dr Vassilious Vassiliou, Pete Best, Tim Winters
We’re back, and avid listeners to the pod will know that Mark loves a challenge, especially when it comes to following rules, and in the first episode of series 3 he discusses the relevance of workplace dress codes and workplace etiquette with our fabulous new co-host Becky Ames.
The lockdowns of 2020 brought about many changes in how we work, least of all what we wear whilst we’re doing it, but has it changed the meaning of ‘dress for success’? Becky and Mark discuss if dress codes even matter anymore, and if they’re in place, what they represent and the expectations, restrictions and pitfalls that can come with them. Should we advocate for more individuality and personality at work? What does ‘dress for success’ really mean? And are you really what you wear…
Thank you to our sponsors Larking Gowen, Chartered Accountants and Business Advisors – check out their website to see how they could help your business www.larking-gowen.co.uk
East of England mergers and acquisitions (M&A) volume continued to flourish during 2022, reaching a peak of 683 deals. This was the highest the region has seen over the last decade, despite challenging economic conditions; up on the 663 transactions recorded in 2021.*
In the latest report from Experian, record-breaking mergers and acquisitions deal volume were reported across several parts of the country last year, with ten-year highs in activity recorded, according to the latest MarketIQ report.
Mergers and acquisitions (M&A) in the UK slowed slightly last year amid challenging conditions, yet Experian has witnessed robust year-on-year growth in several industries, particularly in the technology, healthcare, and hospitality sectors.
Larking Gowen Corporate Transactions were pleased to be awarded ninth place, for the number of deals they advised on, in the East of England in 2022.
Corporate Transactions Partner, James Lay, said, “We’re delighted to have helped so many clients in 2022 with the sale of their businesses. Despite challenging economic and political conditions at a UK level, we’ve continued to generate high levels of interest in the regionally based SME businesses we’re representing. I’ve been advising business sellers for over 20 years and our current workflows and future pipeline have never been stronger.
“With a growing team of full-time specialists, our success is due to our extensive knowledge of credible buyers in the marketplace combined with our in-house accounting and tax advice, thus offering a complete package of services to clients under one roof. This gives us a critical edge over many brokers who are often unable to advise on such comprehensive matters arising on a deal.”
Click here for more information and to download Experian MarketIQ’s full report, including regional advisor league tables.
If you’d like to know how we can help you buy, sell or value your business, please get in touch with our Corporate Transactions team. Call 0330 024 0888 or email enquiry@larking-gowen.co.uk.
*United Kingdom and Republic of Ireland – M&A Review. Experian MarketIQ:22
We are now living in unprecedented times; our lives have been turned upside down by the global spread of Coronavirus, and our businesses have been forced into a place full of uncertainty and confusion. Unsurprisingly we see many examples of the true British spirit emerging daily, as we find ourselves challenging the negative narrative and fake information that’s being bandied about news and social media channels.
Technology is allowing us to facilitate the move to home working for those whose role supports it. For some, this will be adopted early and efficiently, however for others this will prove to be a significant change in how they manage their outputs, how they remain focused and, importantly, how they maintain their levels of wellbeing and motivation. Being part of ‘the team’ at the office allows for extrinsic motivation levels to remain high, as each team member creates positive energy through collaborative achievement. Working in the office, or remotely away from home, allows your employees to effectively compartmentalise home life with work life. Having the ability to switch off one activity whilst performing the other is critical in maintaining a highly productive working style, and, by doing so, enables family or personal time to re-energise you.
To make this forced transition as successful as possible, it is important for employers to establish a mechanism that can accurately determine what is required by each ‘home worker’ on an individual basis. The physical and psychological needs of each team member will vary significantly based on their personal situation. We know that work provides us with an income; however, it provides us with much more. It provides us with a feeling of social inclusion and a real sense of purpose, both of which could easily be lost if we do not effectively manage the home workers’ requirements and outputs, along with organisational expectations during these challenging times.
In this fully interactive and thought provoking webinar led by Maytrix, we will explore the key areas for managing the remote team successfully, and allow opportunities for you to ask questions and add value.
The session will feature topics such as:
Creating the right workspace at home
Establishing the ‘psychological contract’
Maintaining connectivity with the team
Leading a remote team effectively
Please subscribe to the free webinar using the link here, and you will receive confirmation and instructions on how to join us on the day via email.
We look forward to delivering a factual, informative and interactive workshop. If you would like any further details, or if you have any questions, please email events@howespercival.com.
Leading regional accountancy firm Larking Gowen has announced that one of its partners is to retire at the end of March.
Richard Proctor, who joined the firm over eight years ago to head up the Tax Advisory Group, qualified as a chartered accountant in 1985. He started his career in tax with KPMG at their Norwich, London and Cambridge offices, and then moved to Grant Thornton in Norwich where he became a partner in 2000.
Richard said he had enjoyed his years at Larking Gowen, both for the positive working culture and the professionalism of the firm. “When I arrived, I found a very professional but friendly working environment. Although I was a relative outsider, I was immediately welcomed into the ‘family’. From day one I felt my personal values were closely aligned with those of the firm,” he said.
“One of the first things I discovered at Larking Gowen was that no one has a monopoly on good ideas; everybody gets a chance to contribute. We all acknowledge that every day is a school day, and we’re all continually learning.”
During his time here, he said he’d seen the firm grow and develop. “The way we’ve managed our business hasn’t changed a great deal, but we’re seeing better use of technology, which is a work in progress, and perhaps we’re dealing with some more interesting clients,” he said.
“The quality of the Tax Advisory Group is as good as it’s ever been. We’re a very strong team and well set up to take advantage of the opportunities into the future.
Dominic Carter will be taking over as head of the Tax Advisory Group, and says Richard has been something of a mentor to him over the years.
“He’s regarded as quite an authority on taxation, and has brought in a number of us to work with him reshaping the team. In the last 12 months, we’ve all been working hard, making sure we get a smooth transition with our clients,” he said.
“Richard’s dry sense of humour has been a real asset. In the last couple of years’ COVID-related difficulties, challenges and frustrations, it’s been very helpful to have him at the helm.”
Charlie Savory, Head of Corporate Audit and Advisory at Larking Gowen, who oversees the Tax Advisory Team, said: “Richard is hugely respected with a very long-established and admired career, both in Norwich and throughout East Anglia.
“He’s built a strong tax practice which he leaves in the very capable hands of Dominic Carter, who’s one of the best operators in the region. With a talented team that includes our VAT Director Gillian McGill and Ben Greves, a Senior Manager and Corporate Tax Specialist, our clients can be assured it will be business as usual”.