SMEs urged to explore £5,000 cyber security grant

Small and medium-sized businesses (SMEs) should explore the option of bidding for up to £5,000 to improve cyber security.

The government’s Technology Strategy Board has recently extended its Innovation Vouchers scheme to create a £500,000 pot to help SMEs improve their cyber security by investing in outside experience.

Innovation Vouchers were brought in by the Department for Business, Innovation and Skills (BIS) to encourage SMEs to look outside their current network for new knowledge that can help them grow.

The grant of up to £5,000 is only available to businesses that are working with a new technology supplier for the first time and do not already have internal cyber security expertise.

BIS are also publishing new guidance to help SMEs deal with cyber security – helping to ensure that it makes up part of their internal business management procedures.

Last year it was estimated that 86 per cent of all small businesses reported at least one cyber security breach, up from 76 per cent the previous year.

Cyber security is an increasing challenge for small and medium sized businesses, and is a hurdle that must be overcome to ensure future growth.

This new package of measures introduced by the government will help SMEs take small but meaningful steps towards effective cyber security.

For further information, please contact Steve Bell, Head of Corporate Finance on T: 0114 251 8850 or email: steve.bell@hartshaw.co.uk.

Follow Steve on LinkedIn

Hart Shaw Twitter

Hart Shaw Corporate Finance

Preparing your business for sale or succession – Free seminar with Hart Shaw & Wosskow Brown on Thursday 6th June

Inside knowledge from those who have sold their businesses and those who advise.

Wosskow Brown Solicitors and Hart Shaw Chartered Accountants are pleased to invite you to the latest in the series of ‘Need To Know’ seminars, equipping you with the essential legal and financial information to prepare your business for the next stage: sale or succession.

There is a right way to prepare your business for sale and there is a wrong way. We will hear from people who have been there and come out smiling, having carefully prepared their own businesses for sale and exited as planned.

Speakers

• Simon Kinnear, who recently sold his pharmacy business in Sheffield
• Bill Chandler, who recently sold his document storage business
• Kiley Tan, Partner at Wosskow Brown, will be addressing the key legal issues in the lead up to succession or sale
• Steve Bell, Head of Corporate Finance at Hart Shaw, covering process and strategy
• Steve Vickers, Partner at Hart Shaw, on pre- and post-sale tax planning

When & Where

• Date: 6 June
  Time: 8:30am
  Venue: Wosskow Brown Solicitors, The John Banner Centre, 620 Attercliffe Road, Sheffield, S9 3QS
  Parking: Free, behind Wosskow Brown Offices
  Refreshments: Breakfast will be served at 8:30am

Please click here to register your place at this event.

SMEs get £70 million funding boost

Small and medium-sized businesses (SMEs) are set to receive a £70 million lending boost as part of a Government move to increase the availability of finance.

Three new lenders – Market Invoice, URICA and Beechbrook Capital – will share more than £30 million of Government funding to offer SMEs alternatives to traditional bank lending.

They have committed to attracting additional funding from private sector investors, with the total expected to boost the pool of credit available to SMEs from the three lenders by more than £70 million.

The funding comes from the Business Finance Partnership (BFP), through which the Government has committed to provide £100 million of funding for non-traditional lenders in order to diversify sources of finance available to SMEs. Currently, 85 per cent of all business loans are handled by the big four banks.

Lack of finance is still a major problem for many SMEs, preventing them from growing, as they are unable to take on new staff or invest in new equipment.

It is to be hoped that this latest announcement will lead to more business owners being able to access the funding they need when more traditional sources of finance such as the banks have said no.

For further information, please contact Steve Bell, Head of Corporate Finance on T: 0114 251 8850 or email: steve.bell@hartshaw.co.uk.

Follow Steve on LinkedIn

Hart Shaw Corporate Finance

Corporate Finance review

As the UK economy continues to stumble along with talk in the press of double or even triple dip recessions it is easy to lose sight of the fact that the UK as a whole and South Yorkshire in general has a broad range of companies servicing a wide range of sectors.

Recent press articles talk of zombie companies, which are the companies that are trading poorly and are struggling to service their debt; but for one reason or another, financial institutions continue to support them rather than see them enter some form of insolvency procedure. Against the backdrop of zombie companies South Yorkshire has a vibrant economy, sectors such as retail may be suffering but the focus on niche manufacturing driven by the continued investment in the Advance Manufacturing Park and the Nuclear Research Facility sees Sheffield companies held in high regard in international markets.

The diverse economy in South Yorkshire and the fact there are numerous businesses that have a niche product or service is driving a modest level of activity in the transaction market but what is clear is that people are looking for bargains and will only pay pre-slump prices for those businesses that can demonstrate a clear competitive advantage.

This means that going forward, more than ever, the fundamental strategy for anyone looking to exit is to plan ahead.  A business will face many challenges but it is essential to plan and position your business so it is attractive to an acquirer.

I believe the transaction market strengthen in 2013 but funding will continue to be restricted with banks looking for high levels of security and certainty but entrepreneurial businesses will always search for attractive propositions. What is key is that advisors continue to innovate in terms of deal structures that take into account Vendor expectations alongside the restricted funding market. The days of banking a large cheque and walking away are long gone.

Steve Bell, Head of Corporate Finance at Hart Shaw.

Email: steve.bell@hartshaw.co.uk, Tel: 0114 251 8850.

Follow Steve on LinkedIn

Hart Shaw Corporate Finance

New Scheme Aims To Boost Lending To SMEs

A scheme designed to make more lower-cost loans available to businesses is being launched this month (August).

The Funding for Lending scheme will see the Bank of England make low-cost funds available to banks in a bid to tackle rising borrowing costs and increase lending.

Under the initiative, banks can initially borrow the equivalent of 5% of the amount they currently lend, but the more they lend, the more they will be able to borrow. There will be no upper limit on how much they can borrow.

The scheme is also designed to bring down mortgage interest rates for individuals, with building societies also able to take advantage of Funding for Lending.

While it is still too early to say what impact the Funding for Lending scheme will have in the long-term, any move to encourage banks to lend more to SMEs is to be welcomed.

Of course, even if business owners are unable to raise funds from the banks, there are a number of alternative lending sources available on which we are able to advise.

For further information, please contact Steve Bell, Head of Corporate Finance on T: 0114 251 8850 or email: steve.bell@hartshaw.co.uk.

Follow Steve on Linked In

Hart Shaw Corporate Finance

Young Dealmaker of the Year award for Hart Shaw Corporate Financier

Hart Shaw’s Corporate Finance team had a successful evening at the Insider South Yorkshire Dealmakers Awards on 21st June 2012, with Corporate Finance Executive Matthew Milnes beating off stiff competition to bring home the prestigious Young Dealmaker of the Year award.

 

The Hart Shaw Corporate Finance team from left to right: Steve Bell, Matthew Milnes & Natalie Bracey

Judges said of Matthew’s success: “Matthew has been involved in a number of impressive deals over the past year. He uses “open and frequent communication” to avoid any surprises and delays that could derail deals. I’m sure we’ll be hearing a lot more from him in the future.”

Matthew stated: “I am very happy to win this award and I am pleased by the fact that I managed to help a lot of our clients achieve their goals in what is a difficult economic climate.

“During the year I have worked with some excellent local professionals who helped to ensure the deals got done. The transactions completed show that there is support available for the right businesses.”

Matthew said of the Corporate Finance team at Hart Shaw: “It is obvious that I couldn’t have achieved what I have without the support of the strong Corporate Finance team that has developed at Hart Shaw and my thanks go to them too.”

Follow Matthew on Linked In

Hart Shaw Corporate Finance

Hart Shaw shortlisted at the South Yorkshire Dealmakers Awards

Hart Shaw Corporate Finance have been shortlisted for three awards at the Insider South Yorkshire Dealmakers Awards taking place at the Mercure St Paul’s Hotel in Sheffield on

Hart Shaw Corporate Finance

Thursday 21^st June 2012.

The Corporate Finance team have been shortlisted for the ‘Corporate Finance Advisory Firm of the Year’ award, in addition to Head of Corporate Finance, Steve Bell being shortlisted for the ‘Corporate Finance Adviser of the Year’ award and Corporate Finance Executive, Matthew Milnes being put forward for the ‘Young Dealmaker of the Year’ award.

The nominations are in support of the departments’ key deals over the last 12 months, which include the accelerated disposal of Timberline Ltd after they went into Administration, the sale of four independent mobile phone franchises on the same day, and the acquisition by JMC Acquatics Ltd of the aquatics division of a key competitor.

Critical issues in Exit & Succession Planning seminar at Hart Shaw on Tuesday 22nd May 2012

A joint seminar with business experts Hart Shaw, hlw Keeble Hawson and the FD Centre

You may only dispose of a business once, so make sure you get advice from people who know how and when to prepare and how to maximise the price whilst minimising the hassle.

For many entrepreneurs, the idea for starting their business was to make a difference. Not just a difference in the eyes of customers and peers, but also a difference to their own financial well-being.  Whether your business is based around generating an income or for building growth, there will come a time when disposing of the business is the right thing to do.

This seminar will focus on:

• Improving the value of your business
• Making it an attractive proposition to potential buyers
• When to build an exit or succession strategy into your business plans
• What potential buyers look for
• Deal structures
• The sales process
• Pre and post sale tax planning
• Legal documentation
• Completion of sale

We will provide you with experienced insights from the role of finance director, corporate finance adviser, tax specialist and corporate lawyer. Our intention is to help you maximise your business potential for when the time is right to move on to new challenges.

Join Steve Bell, Head of Corporate Finance at Hart Shaw, Steve Vickers, Tax Partner at Hart Shaw, Andy Collier, Regional Director at the FD Centre and Roger Dyson, Head of Corporate at hlw Keeble Hawson over breakfast at Hart Shaw’s offices for a seminar that provides a crucial insight into the issues surrounding a business disposal.

The details are:

• Date: Tuesday 22^nd May 2012
• Time: 8:00am for tea, coffee and breakfast sandwiches, 8:30am start, 9:30am finish with Q&A and optional networking until 10am
• Venue: Hart Shaw Building, Europa Link, Sheffield Business Park, Sheffield, S9 1XU

The seminar is FREE to attend and you are very welcome to bring a guest or a colleague.

To confirm your attendance please contact Brendan Hallat Hart Shaw on T: 0114 251 8872 or email: brendan.hall@hartshaw.co.uk. Places are limited so please book early to avoid disappointment.

Forthcoming events at Hart Shaw

Past events at Hart Shaw

Four deals in one day

Deal makers from Hart Shaw Corporate Finance and legal firm, HLW Keeble Hawson LLP have completed the sale of four businesses on the same day. The four independent businesses, franchisees for a leading mobile phone operator, were all acquired by Talk Direct (Leeds) Limited, a company that has consolidated a number of other franchisees in the recent past.

Hart Shaw Corporate Finance

WAP Communications Limited, 24-7 Connect Limited, 635 Connect Limited and Crystal Connect Limited are all based in South Yorkshire and are independent companies with common shareholders.

Dan Fountain, Joint Managing Director of the Companies comments “Having been one of the earliest franchisees for this mobile phone brand we have consistently innovated to deliver the growth required. We realised that the market is moving to larger “super franchisees” and that long term value could only be generated by consolidating our companies into a larger structure. For this reason we worked with Hart Shaw to identify a strategic acquirer. Talk Direct are already a significant player in the market and the acquisitions strengthen their position within the franchisee network”  

Steve Bell, Head of Corporate Finance at Hart Shaw comments “The companies are long standing clients of the practice and real value was generated through the identification of a strategic acquirer that would pay a premium to secure these companies. Whilst the transaction in itself was straightforward, complexities arose out of the fact we were dealing with four independent companies alongside a Franchisor that had a right of veto.”

Chris Wilson, Corporate Partner at hlw Keeble Hawson comments “The need to co-ordinate the sale of four separate companies on the same day posed a number of logistical challenges.  These were overcome largely through the close co-operation between the Sellers’ legal and financial teams.  The transaction also demonstrates that, given the right clients and professional advisors, there are corporate deals to be done in South Yorkshire which bodes well for the year ahead.”

Steve Bell, Head of Corporate Finance

steve.bell@hartshaw.co.uk

Hart Shaw Corporate Finance

Follow Steve on Linked In

Managing your business and its customers: Strategic steps to ensure business survival and long term growth in the current economic climate

A joint seminar with business experts Hart Shaw and Wosskow Brown.

We are all aware of the tough economic conditions at present in the UK. What you need to know is how to successfully manage your business through these difficult times in order to come out stronger and grow your business.

Business experts Hart Shaw and Wosskow Brown are teaming up to provide a timely breakfast seminar which focuses on how effective management of customers and suppliers can maximise recovery options and achieve growth. Topics for discussion include:

• Cash flow management
• Understanding your business
• The funding market
• Successful management
• Getting your terms and conditions right
• Effective debt collection
• Business survival strategies
• Recovery options available

Join Steve Bell, Head of Corporate Finance at Hart Shaw, Christopher Brown, Business Recovery Partner at Hart Shaw and Kiley Tan, Head of Commercial at Wosskow Brown over breakfast at Hart Shaw’s offices for a seminar that provides a crucial insight into how a thorough review of your business operations can ensure survival and long term growth.

The details are:

• Date: Wednesday 18^th April 2012
• Time: 8:00am for tea, coffee and breakfast sandwiches, 8:30am start and 9:30am finish with Q&A and optional networking until 10:00am
• Venue: Hart Shaw Building, Europa Link, Sheffield Business Park, Sheffield, S91XU

The seminar is FREE to attend and you are very welcome to bring a guest or a colleague.

To confirm your attendance please contact Brendan Hallat Hart Shaw on T: 0114 251 8872 or email: brendan.hall@hartshaw.co.uk. Places are limited so please book early to avoid disappointment.

We look forward to seeing you there.

Hart Shaw events

Follow Brendan on LinkedIn