A total of 77.8% of accountants’ small business clients are not expecting to return to pre-Covid levels of production and turnover for at least a year, raising questions about their confidence and willingness to invest, according to the SME Tracker published by ACCA and The CFN.
And only just over a quarter (26.8%) have made plans for surviving another lockdown,
North Yorkshire-based accountancy firm Hunter Gee Holroyd (HGH), has advised the owners of a motor dealership to raise funding via a Coronavirus Business Interruption Loan (CBIL).
Mark Grewer, Director of Corporate Finance at HGH was approached by his client after they were interested to learn more about the CBILs funding.
Knill James, a member of The Corporate Finance Network based in Lewes, East Sussex, has advised the owners of a farm raise funding via a Coronavirus Business Interruption Loan (CBIL).
The Knill James corporate finance team was asked for assistance when the farming client who had a turbulent year need to raise funds to upgrade its machinery to expand capacity.
LEES, a member of The Corporate Finance Network with offices in Norwich, London and Hampshire has advised the shareholders of an engineering business on the purchase of shares from a dissenting shareholder.
The LEES Corporate Finance team was asked for assistance following the breakdown of a working relationship between shareholders of the fast-growing firm.
Kay Johnson Gee LLP (KJG), a member of The Corporate Finance Network based in Manchester has advised the owners of print management firm on its sale to employees.
The KJG team, led by Corporate Finance Partner Steven Lindsay (pictured), was approached by his client when they decided to consider options for selling their business.
MAP, a provider of corporate finance and accountancy services based in Manchester has advised a London-based International Digital Marketing firm on raising £250k via a Coronavirus Business Interruption Loan Scheme (CBILs).
Paul Barnes, Managing Director at MAP took the initiative to contact multiple clients after a thorough analysis of their existing cash flow and their debt showed that better payment terms were available under the CBILs.
McBrides, a member of The Corporate Finance Network based in Kent and South East London, has advised the shareholders of a family-run Construction business on a sale via a Management Buy-Out (MBO).
McBrides Corporate Finance Partner, Nigel Kimber, was approached by his client as they sought advice for disposing of shares within their business.
This month’s survey results from ACCA and The Corporate Finance Network has been featured in the Scottish Financial News.
https://www.scottishfinancialnews.com/article/acca-cfn-one-in-five-small-businesses-believe-full-trading-recovery-will-take-two-years
Small businesses expect a long, slow road to recovery to pre-pandemic levels of trading, according to a survey from ACCA UK (the Association of Chartered Certified Accountants) and The Corporate Finance Network (CFN).
The gloomy prediction emerges from the SME Tracker, which surveys accountants about their clients. It shows that 20% of SMEs are convinced that full recovery to pre-pandemic levels of trading will take up to two years.
Albert Goodman, a member of The Corporate Finance Network based in South West England with six offices, has advised the owners of an engineering services business on its sale.
The Albert Goodman team, led by Director of Corporate Finance, Neil Hutchings was approached by his client during the pandemic,
