The Adviser – Summer 2013

Welcome to the Summer 2013 edition of The Adviser, Hart Shaw’s periodic client newsletter. This newsletter aims to introduce you to the people behind the services at Hart Shaw and give you relevant points of contact for our more specialist services.

Our lead article focuses on preparing your business for sale or succession and the importance of developing a long term plan in order to maximise business value.

We would like to introduce you to our new Business Recovery Partner, Emma Legdon, who was made a partner at Hart Shaw earlier in 2013 after being with the firm for 20 years. Emma’s article on the current state of the economy shows that the recession may not be as bad as feared and that there are positive signs on the business recovery front.

We also introduce our new VAT Adviser, Carla Davis who provides a very interesting article on the history of VAT now that it is in its 40^th year of taxation.

Hart Shaw’s Financial Planning department would like to inform company directors to a new tax efficient life insurance product which is now available.

We also have some important news for users of Sage 50 Accounts software.

Our guest article comes from Reynolds Trade Credit, a key business partner to Hart Shaw who discuss the credit insurance market and how this can help with risk management for businesses who are looking to grow in difficult times.

Finally, no newsletter is complete without a plug for our social media forums! If you would like to engage with Hart Shaw on a more regular basis please check out our Blog, LinkedIn, Twitter and Facebook feeds. There are some smart phone links on the front page which will direct you to these forums.

As ever, we really appreciate any feedback you can give us about this newsletter, our other communications and the services we provide so if you would like to get in touch please email us at adviser@hartshaw.co.uk.

Click here to download The Adviser

MADE Festival Fringe Event – Starting a business: What to avoid

Hart Shaw is holding a fringe event as part of the MADE seminar on Friday 21st September in the Sheffield City Hall.

Business start-up and growth MADE easy:

Practical tips to succeed in business

A MADE fringe event with business experts Hart Shaw

Putting a viable business idea into practice requires a lot of careful thought and consideration. Once you are ready to introduce your business to the world, in many instances you have only one chance to get it right.

We are all aware of the tough economic conditions at present in the UK. What you need to know is how to successfully set-up and manage your business through these difficult times in order to grow and be a success.

Chartered Accountants & Business Advisers, Hart Shaw are presenting a seminar on the practical Do’s and Don’ts when it comes to successfully setting up and managing a business. Topics for discussion during the hour long seminar will include:-

• Cash flow management
• Understanding your business
• Access to finance
• Managing your customers and suppliers
• Getting your terms and conditions right
• Risk management
• Legal structure
• Tax hints & tips

Join Steve Vickers, Tax Partner, Christopher Brown, Business Recovery Partner and Steve Bell, Head of Corporate Finance from Hart Shaw for a crucial insight into how a thorough review of your business operations can deliver long term success.

The details are:

• Friday 21^st September 2012
• Sheffield City Hall
• 2pm to 3pm

The seminar is FREE to attend, however you will need a MADE festival ticket to gain access to the main City Hall event.

To confirm your attendance please contact the Enterprise Gateway on 0800 043 5522.

We look forward to seeing you there.

MADE fringe events

In association with the Entrepreneurs Exchange

Hart Shaw events

Access to finance help for Yorkshire businesses

Yorkshire companies are set to benefit from a special event featuring experts from the banking and finance world aimed at helping them secure funds for business growth.

Law firm Irwin Mitchell is hosting the event as part of its 2011 Autumn Seminar Series in order to discuss and promote business innovation and growth within the region.

The free event, “It’s All About The Money”, on Tuesday 4th October will give companies the opportunity to find out about all aspects of business finance.

Financial specialists speaking at the event include:

• Hart Shaw – Steve Bell, Head of Corporate Finance will talk about the ‘fundamental challenge’

• Lloyds Banking Group – Chris Perkins, Relationship Director and Paul Varley, Senior Manager Commercial will give tips on how to work with your bank and an update on the banking sector

• Finance Yorkshire – Ian Howson, Investment Manager, Business Loans and Ash Chopra, Investment Director, Equity Linked Finance will talk about gap funding and how Finance Yorkshire can help businesses

• Yorkshire Association of Business Angels – Catherine Kennedy, South Yorkshire Ambassador will cover ‘Angel investment – where does it fit and what you need to know to get it’

• The FD Centre – Andy Collier, Regional Director will talk about the role of the finance director in maximising your chances of getting the funding you need from the correct sources

James Bullock, Partner in the Corporate team at Irwin Mitchell, hosting the event, said: “Business owners tell us that access to finance is one of the biggest issues at the moment. There are many good companies who are looking to grow and need some injection of capital in order to give them a boost. However there are ways to get access to funding and this event aims to arm people with the information and knowledge to be able to improve their chances of securing the help they are seeking.

“There is a great line up of speakers and we urge people to take advantage of this fantastic free event.”

This event is being hosted by Irwin Mitchell at their Sheffield office from 8am till 11am.

Places are limited so people wishing to attend should email melanie.parker@irwinmitchell.com or call 0114 274 4489 as soon as possible.

Click here to view Hart Shaw’s events calendar.

Selecting the right advisers increases business value

Whilst acquisition and disposal activity is a long way short of that seen during the boom years, our feeling is that there is some stability returning to the market within South Yorkshire and the wider region. The recent decision by the Bank of England MPC to hold interest rates at the historically low rate of 0.5% is likely to provide an added level of comfort to business owners.

Hart Shaw Corporate Finance

The Government’s focus on lending to SME businesses through Project Merlin continues, however, it is our feeling that the Banks are still highly cautious in their approach to lending.

Against this backdrop of fragile confidence we are acting for a number of companies who are looking to grow their businesses through acquisition. These clients range from niche engineering businesses that recognise the need to diversify to entrepreneurial businesses that are simply looking to target quality companies at reasonable prices.

As a firm we are now seeing more harmony between a realistic vendor expectation and acquirers who are willing to pay more than a rock bottom price. This understanding is helping to drive the M&A market forward meaning transactions are more likely to get completed.

The increase in activity within the M&A market is not only acquirers picking up distressed businesses at bargain prices. There are a number of businesses in the enviable position of delivering strong profits and cash flow and consequently are very attractive to potential acquirers resulting in the vendor being able to command maximum value.

It is important to consider that a high proportion of companies both looking to buy and looking to sell may not be actively marketing this fact. It is therefore important for vendors looking to maximise their value to select the right advisers. A significant amount of time and resource needs to be invested when finding a buyer, the right advisers will have the experience and research tools at their disposal to enable them to identify the strategic acquirers and understand their motivations for an acquisition. This means that the business for sale can be presented in the most appropriate manner, getting the acquirers interested and willing to pay a price that reflects the full value of the business.

If you would like to discuss your business’ M&A strategy please feel free to contact Hart Shaw for a free, no obligation meeting.

Steve Bell, Head of Corporate Finance

steve.bell@hartshaw.co.uk

Hart Shaw Corporate Finance

Build a Better Business …how to improve your business without spending a fortune

Ideas to implement tomorrow to add value to your business

Federation of Small Businesses

It’s easy to get caught up in the day-to-day without thinking of tomorrow. This interactive workshop, facilitated by an experienced Business Link adviser is packed with great ideas, practical tips and local examples to help you develop your business and improve your profitability.

Who should attend?

This workshop is aimed at business owners and managers of small businesses with typically up to 10 employees, who want straightforward advice and ideas around improving key areas of their business such as sales, marketing and financial management.

The details are:

Date: Wednesday 7^th September 2011

Time: 4:00pm for 4:30pm start, finishing at 6:30pm

Venue: Hart Shaw LLP, Europa Link, Sheffield Business Park, Sheffield, S9 1XU

 

This workshop is being run by the Federation of Small Businesses in association with Business Link and sponsored by Hart Shaw.

It is free to attend and you are very welcome to bring a guest or a colleague.

To confirm you place please contact Brendan Hall at Hart Shaw on T: 0114 251 8872 or email: brendan.hall@hartshaw.co.uk. Places are limited to please book early to avoid disappointment.

Click here to view the flyer.

It’s all about the money!

For perhaps the first time ever we are giving you the opportunity to find out about all aspects of business finance – and it’s for free!

Give us just a few hours out of your busy schedule and you will hear from the following financial specialists:

•  Hart Shaw – Steve Bell, Head of Corporate Finance will talk about the ‘fundamental challenge’

•  Lloyds Bank – Chris Perkins, Relationship Director and Paul Varley, Senior Manager – Commercial will give tips on how to work with your bank and an update on the banking sector

•  Finance Yorkshire – Ian Howson, Investment Manager, Business Loans and Ash Chopra, Investment Director, Equity Linked Finance will talk about gap funding and how Finance   Yorkshire can help businesses

•  Yorkshire Association of Business Angels – Catherine Kennedy, South Yorkshire Ambassador will cover ‘Angel investment – where does it fit and what you need to know to get it’

•  The FD Centre – Andy Collier, Regional Director will talk about the role of the finance director in maximising your chances of getting the funding you need from the correct sources.

It will be time well spent!

This event is being hosted by Irwin Mitchell at their Sheffield office.

Places are limited so reply as soon as possible to ensure you don’t miss out.

Event details: Venue: Irwin Mitchell Riverside East 2 Millsands Sheffield S3 8DT

Click here for map

Date: Tuesday 4th October 2011

Timings:

• 8:00am registration, breakfast and networking
• 8.30am seminar starts
• 11:00am close

To register your place please contact Brendan Hall, Marketing Co-ordinator on T: 0114 251 8872 or email: brendan.hall@hartshaw.co.uk.

Hart Shaw forthcoming events

Latest deals for Hart Shaw Corporate Finance

While larger deals tend to steal the limelight it is reassuring for all Hart Shaw clients to know that they have access to all our value added services, such as specialist tax and corporate finance work.

In recent months Hart Shaw’s Corporate Finance team has worked with a wide range of clients helping them lay the foundations to achieve their long term business goals.

Whatever the size of a business, planning for an exit strategy, a management buy-out or going on the acquisition trail requires the backing of a dedicated team of advisers. Already in 2011 Hart Shaw has acted as lead adviser to three key deals.

A Management Buy-Out at Sheffield Electric Co. (Contractors) Ltd resulted in new ownership for the well established electrical contracting & installation business. The transaction was completed by Derek Milner, who had been with the business for 30 years, and now allows him to participate in the future growth of the business.

An ‘out of town’ deal saw Hart Shaw advise London based GGS Compressors Ltd (trading as GGH Hire) on the acquisition of Hire Mate Ltd which boosted combined turnover of the construction and utility based plant supply business to over £4.2m.

Advice in respect of a restructuring of the shareholding of local brewery supplier, Hallamshire Brewery Services Ltd, allows the shareholders to continue to invest for long term growth and was the result of the Tax Planning and Corporate Finance Teams working closely to deliver a structure that delivered real value to the client.

New Head of Corporate Finance, Steve Bell comments: “Our principal focus is on supporting our clients with their strategic, corporate and personal goals. Businesses continue to face challenges as a result of the current economic climate and the continued nervousness of banks to lend money. In this environment we continue to deliver innovative solutions to the issues faced by all our clients.”

To speak to our Corporate Finance team please contact Steve Bell on T: 0114 251 8850 or email steve.bell@hartshaw.co.uk.

Follow Steve on Linked In

http://www.hartshaw.co.uk/corporate_finance.htm

Do the right thing in 2011: Protect your business against financial risks

A joint seminar with business experts Hart Shaw, the FD Centre and Reynolds Trade Credit

Are you aware of all the risks your business faces today?

Hart Shaw, the FD Centre and Reynolds Trade Credit are joining forces for a timely seminar aimed at business owners and directors to help them identify the financial issues faced by businesses and how to implement controls to mitigate risks.

This seminar highlights the key areas where your business could be at risk and gives you proactive advice on how to manage issues such as:

• Keeping hold of your key employees

• Funding options available to you

• Managing your supply chain

• Retaining your clients

• Working capital and financial management

• Debtor & creditor management

• Trade insurance and how this affects business

• Managing credit risk

• How risk is assessed

• Export issues

Join Steve Bell, Head of Corporate Finance at Hart Shaw, Andy Collier from the FD Centre and Steve Hamstead, Director at Reynolds Trade Credit over breakfast at Hart Shaw’s offices for a seminar that provides a crucial insight into the risks businesses face in the current economic climate.

The details are:

• Date: Tuesday 14th June 2011

• Time: 8:00am for tea, coffee and breakfast sandwiches, 8:30am start and 10:00am finish with optional networking afterwards

• 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 Hall at 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.

New Head of Corporate Finance for Hart Shaw

Hart Shaw, the Sheffield based Chartered Accountants and Business Advisers has appointed Steve Bell as the new Head of Corporate Finance.

Steve Bell, Head of Corporate Finance

Steve, who has been a member of the Corporate Finance team since October 2008, will now head the department.

Hart Shaw’s Corporate Finance department offers a complete range of strategic services to local businesses.

Steve comments “Our principal focus is on supporting our clients with their strategic, corporate and personal goals. As a firm we deliver a broad range of services including tax, accounts and audit and the corporate finance service compliments these services so that our clients receive value added, pro-active advice.”

“Businesses continue to face challenges as a result of the current economic climate along with the continued nervousness of banks to lend money. In this environment we continue to deliver innovative solutions to the issues faced by all our clients.”

“The last year has seen a number of clients consider their ongoing involvement with their businesses. We have completed a number of transactions that has seen a number of business owners either reduce their involvement or exit completely from their business. This work requires us to work closely with our colleagues tax and financial planning colleagues and therefore being a full service advisory practice we can deliver these services in-house and I would expect with the ongoing economic pressures that we will continue to offer practical solutions in these situations.”

Steve can be contacted on T: 0114 251 8850 or email: steve.bell@hartshaw.co.uk

Follow Steve on Linked In

Hart Shaw Corporate Finance

Business Disposal Special Edition of The Adviser

Hart Shaw have put together a special edition of our Adviser newsletter, focusing on the key aspects in relation to developing an exit or succession plan for your business.

Business Disposal special edition of the Adviser

The ultimate aim of many business owners is, at some point in the future, to realise the value of their investment. In many circumstances the business will be the most significant asset owned by an individual and therefore the decision to sell will be the single largest financial transaction completed in a lifetime.

The importance of developing an exit strategy will ensure careful consideration is taken to make the business attractive to potential acquirers, ensuring you have taken any relevant tax advice, what your overall options are and ultimately, how to maximise the sale value of your business.

Also featured in the newsletter is a case study of a recent disposal which saw our client achieve significant value for their business, the tax aspects you need to consider when retiring and details of a forthcoming exit planning seminar at Hart Shaw.

Click here to download your free copy of the Business Disposal edition of the Adviser.

We hope you find the latest issue of The Adviser of interest and we welcome your feedback.

Please contact Chris Sellars, Corporate Finance Partner at Hart Shaw on T: 0114 251 8850  or email: chris.sellars@hartshaw.co.uk if you wish to discuss your exit plan in more detail.