Fuelling your momentum Commercial, financial and taxation advice for growing businesses and their owners
Unleash your business If you re an entrepreneurial founder or leader, no-one is better placed to understand the highs and lows of growing a successful business. Eureka moments can quickly give way to unwelcome operational demands, with challenges such as raising finance, meeting revenue targets or simply dealing with day-to-day management often getting in the way of sustainable business success. That s why it s important for leaders to work on the business, rather than in the business. To achieve this, both an internal and an external dream team is required. Tell us where you want to go and we will deliver Put simply, your needs are our priority. We ll do the legwork to ensure you have the commercial, financial and taxation advice you need, leaving you and your management team with more time to focus on achieving your business goals. So why not give us a call on 0808 164 0100? Our dedicated entrepreneurial services group understands the complexities of growing businesses and we will support you from vision to exit and beyond. Fuelling your momentum Page 2 of 13
Fuelling your momentum Seven reasons why Smith & Williamson is uniquely positioned to help you and your business. Fuelling your momentum Page 3 of 13
1 The experience and resources of a top ten UK accountancy firm 12 offices and an international capability in over 100 countries. We are ranked among the top ten firms of accountants in the UK.* Our focus is on helping entrepreneurs and investors create, manage, and preserve their wealth a unique approach that singles us out from our peers and larger competitors. We have 12 offices across the UK, Ireland and Jersey. We also have an international capability in over 100 countries through our membership of Nexia International, one of the longest-established global accounting and consulting networks, and Oaklins International, the world s leading mid-market M&A network. Service excellence We regularly win awards for excellence. At the heart of these achievements is a dedication to service, creating strong relationships with clients and access to specialist advisers who understand their needs and objectives. Our business thrives on our people a pool of highly talented and enthusiastic individuals who deliver a broad and innovative range of services. Our reputation for delivering practical, commercial solutions is underpinned by experience and technical excellence. *According to the latest survey of the market by Accountancy Age magazine. Smith & Williamson have been our advisers for many years. As a result they have a sound understanding of our business and we have developed a good working relationship. Karl Tucker, Joint Managing Director, Yeo Valley Fuelling your momentum Page 4 of 13
We ve been incredibly impressed with the level of support we have received. They are not just a firm of accountants but an extension of our business, interested in the success and growth of our company. While our business grows it is crucial that our accountants can grow with us and I have no doubt that Smith & Williamson will be able to meet every one of our future demands. Piers Daniell, CEO, Fluidata 2 A dedicated entrepreneurial services group The Smith & Williamson entrepreneurial services group works alongside founders and management teams who want to succeed and make a difference. Entrepreneurial businesses are widely celebrated as the engine of growth for the UK economy, creating wealth, opportunity and employment in a competitive and dynamic environment. Many of these businesses seek support from professional advisers who understand their priorities, challenges and frustrations. Our dedicated entrepreneurial services group brings together the core services required to meet all of your financial needs business advisory, accounting support, audit, corporate tax, corporate finance and debt advisory, transaction support, valuation services and a range of financial and tax planning services for businesses and the individuals within them. We also offer a range of other services, including forensic accounting, litigation support and restructuring and recovery, where appropriate. Complimentary reviews Clients and prospective clients can benefit from a range of complimentary review services such as our business road test, covering all facets of financial and wider management, as well as bespoke corporate finance, tax, employment tax and incentives planning reviews. In addition, we share our knowledge and expertise through a programme of publications, surveys of current issues and events and conferences. Fuelling your momentum Page 5 of 13
3 End to-end services for growth businesses and their owners from vision to exit and beyond We provide a one-stop-shop of support services to meet the personal financial and business needs of founders, management teams and shareholders at all stages of the business lifecycle. This ensures that our clients are well advised and able to focus on their key business imperatives. 1 2 3 Early stage Strategy and structure Outsourced accounting/kpis Payroll SEIS/EIS and R&D tax credits Tax and VAT advice and compliance Employee incentives Growth Audit and assurance Corporate tax Corporate finance and funding support Debt advisory Transaction support Valuations Mature Exit and succession planning M&A Advisory MBO/MBI Trade sale Flotation 1 Early stage Personal tax Financial planning Pensions Entrepreneurs relief Partnering with entrepreneurs to achieve their personal and business goals. The entrepreneur...and the business 2 Growth Investment management Family office Exit and succession Estate planning 3 Mature Fuelling your momentum Page 6 of 13
4 Comprehensive international connections As members of Nexia International and Oaklins International, Smith & Williamson and its associates can support your business anywhere in the world. In an increasingly global economy, our clients regularly need advice on international matters. We therefore offer accountancy, corporate finance and tax support in conjunction with associated firms around the world. We are a member of Nexia International, a global network of independent accounting and consulting firms with around 600 offices in over 100 countries. We also have a significant ownership interest in Nexia TS, a top ten accountancy and consulting firm headquartered in Singapore, with offices in China, Malaysia and Myanmar. Our corporate finance practice is a member of Oaklins International, an independent network of merger and acquisition specialists and investment banking firms operating in over 40 countries, which is a leader in the mid-market. Global mid-market 2016 by volume Oaklins KPMG PwC Deloitte Rothschild EY Stifel/KBW Houlihan Lokey Lazard 0 20 40 60 80 100 120 140 160 180 No. of deals between US$5 250m in 2016 Source: www.mergermarket.com, M&A International Inc. Fuelling your momentum Page 7 of 13
5 Complementary support services through carefully chosen strategic partners We are proud to have partnerships with carefully selected, complementary businesses, providing support for our clients and delivering a broad network through which we can connect them to the right people at the right time. Cranfield School of Management promotes entrepreneurship in all its forms, providing masters programmes, doctoral programmes, executive education for entrepreneurs, bespoke programmes for organisations supporting entrepreneurs, and the Business Growth Programme (BGP), the UK s longest running and most successful programme of its kind. cranfield.ac.uk Envestors is an FCA-regulated corporate finance house that runs a network of 3,500 sophisticated private investors and family offices, investing minimum sums of 25,000 into unquoted companies seeking 500,000 to 10m in equity. envestors.co.uk EquityFD and its sister business EquityFC are focused on individual, senior finance hires at financial controller and finance director/cfo level into standalone, growth businesses. Many are venture capital or PE-backed and are at the forefront of innovation in their sector, challenging traditional models and methods of delivery. These sit alongside EquityChair, established in 2010, which provides a chairman and NED resource to the same client base. equityfd.com; equityfc.com; equitychair.com Fast Growth Icons is an invitation-only network for highly successful, rapidly growing businesses. Founders of such businesses are invited to attend bespoke events when they have demonstrated significant traction in revenue, users or funding. fastgrowthicons.com The FD Centre provides part-time FDs to entrepreneurial and owner-managed businesses, typically with turnover between 2m and 50m, that don t want, don t need or can t afford a full-time FD. thefdcentre.co.uk The FD Centre has enjoyed a longstanding relationship with Smith & Williamson, working closely together to assist clients with complex commercial requirements and leveraging our respective skill sets to ensure the best outcomes. Sara Daw, CEO, The FD Centre Engine Shed is a hub for inspiring inclusive, sustainable growth and collaboration across the entrepreneurial ecosystem in the Bristol and Bath City region. It is home to strategic components (tenants) and event spaces which fund its investment in projects such as scale-up business support and innovation. engine-shed.co.uk Freeman Clarke is the UK s largest and most experienced team of part-time IT directors. They work exclusively in the midmarket, supporting their clients with clear IT strategies, driving their growth and providing peace of mind. freemanclarke.co.uk Fuelling your momentum Page 8 of 13
Fresh Business Thinking is a leading online resource for business owners and directors running small to medium-sized businesses in the UK. freshbusinessthinking.com The Supper Club is the UK s leading membership club exclusively for fast-growth entrepreneurs and CEOs. Membership offers access to an extraordinary group of likeminded peers, providing inspiration, support and challenge in a confidential community. preludegroup.co.uk The Supper Club enables fast-growth entrepreneurs to scale, by building high-value, long-lasting relationships, quality content and peer learning. This makes us a natural partner for Smith & Williamson. Emma-Jane Packe, Director, The Supper Club Vistage is dedicated to increasing the effectiveness and enhancing the lives of business leaders by providing private advisory groups, expert speakers, coaching and mentoring for more than 21,000 MDs, CEOs, executives and business owners worldwide. vistage.co.uk Vistage UK works with a small number of trusted, specialist business partners to bring expert know-how, tools and advice to our members. By working with Smith & Williamson, our members gain access to bestin-class business services and expert advice, within a safe and trusted environment. Smith & Williamson is proud to be a corporate founder of the ScaleUp Institute, helping to influence and improve the ecosystem for entrepreneurial businesses and facilitating their development and growth. The ScaleUp Institute is a private sector, not-for-profit organisation which aims to deliver tangible benefits and remove barriers to corporate growth. It is committed to taking the UK s international reputation for start-up businesses to the next level, by closing the scale-up gaps and developing a worldleading nation of high growth enterprises for the benefit of current and future generations. The ScaleUp Institute has a number of other founding supporters, including: Business Growth Fund Goldman Sachs 10,000 Small Businesses Google Innovate UK London Stock Exchange Group scaleupinstitute.org.uk I am delighted that Smith & Williamson is a founding supporter of the ScaleUp Institute. Making sure that the UK becomes the best place to scale a business demands that our corporates, advisors and financiers work together and lean in to support these high growth businesses. Collaboration is key and Smith & Williamson has a crucial role to play through its network, as well as the mentorship and financial advice its teams can offer. Irene Graham, CEO, ScaleUp Institute Geoff Lawrence, Marketing Director, Vistage Fuelling your momentum Page 9 of 13
Pre-election 6 Thought leadership communicating and sharing our expertise Regular communication and access to thought leadership are at the heart of our programme to support the entrepreneurial and scale-up business community.. Seminars and conferences We hold regular sector and topic-focused seminars and events for entrepreneurs and growth businesses, which are complimentary for our clients and key contacts. These focus on topics such as raising finance, exit strategies, tax and other events supporting scale-up Britain. Technical updates We host regular workshops and seminars designed specifically for senior finance staff. Newsletters and publications We regularly produce general and sector-based newsletters and bulletins. Surveys Our quarterly survey, the Smith & Williamson Enterprise Index, provides a regular snapshot of the UK economy from the perspective of the nation s entrepreneurs, measuring the temperature of the environment and highlighting both sentiment and activity. Enterprise Index Q2 2017 The Smith & Williamson Enterprise Index measures the views and confidence of owner-managers and entrepreneurs in the UK. Confidence of business owners and entrepreneurs for the last 12 months 120.0 115.0 110.0 105.0 100.0 95.0 2016 Q2 2016 Q3 2016 Q4 2017 Q1 2017 Q2 Planning for growth Government policy The Enterprise Index began from a baseline of 100 in Jan 2013 78% are planning for growth in the next 12 months Post-election 53% believed that government policy was supportive of their business 40% believed that government policy is supportive of their business Fuelling your momentum Page 10 of 13
7 Added value through meeting and learning from fellow entrepreneurs We understand the challenges involved in building a successful business and, by making timely and relevant introductions, we help our clients to shorten the journey. Meeting and learning from fellow entrepreneurs is at the heart of our programme. We go out of our way to create meeting and networking opportunities so that success is celebrated and war stories can be shared. Why reinvent the wheel when you can meet someone who s been there and done it before? Apart from bringing inspirational speakers to our seminars and conferences, we arrange many informal gatherings. These smaller events, often over lunch or dinner, enable guests to learn from their peers and gain insights into how other businesses have dealt with particular issues or broken through glass ceilings. Many of the people we invite to these events end up working with each other, finding ways to collaborate through shared clients or joint marketing. Put simply, some businesses have been transformed as a result of our events. Smith & Williamson have been supporters of our network and other events from the beginning. They have the same interest in working with the most exciting and successful entrepreneurs as we do. As well as working with us on our annual event in London, we also collaborate to bring networking and business inspiration to business owners throughout the year. Ben Fletcher, founder of Fast Growth Icons Fuelling your momentum Page 11 of 13
For more information If you re an owner-manager, entrepreneur, adviser, or if you work with a scale-up business, we d love to hear from you! Please speak to your existing Smith & Williamson contact or contact our team to discuss how we can help. Telephone: 0808 164 0100 Email: momentum@smithandwilliamson.com Website: smithandwilliamson.com Twitter: @SmithWilliamson LinkedIn: Smith & Williamson Scale-up diagnostic Use our free diagnostic tool to identify your business s strengths and weaknesses and receive direction and recommendations on practical next steps. Smith & Williamson offices: London Belfast Birmingham Bristol Cheltenham Dublin (City and Sandyford) Glasgow Guildford Jersey Salisbury Southampton scaleupdiagnostic.co.uk Fuelling your momentum Page 12 of 13
smithandwilliamson.com We have taken great care to ensure the accuracy of this publication. However, the publication is written in general terms and you are strongly recommended to seek specific advice before taking any action based on the information it contains. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Smith & Williamson Holdings Limited 2017. 17/643 exp: 04/10/2018 Smith & Williamson LLP Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International. Smith & Williamson Corporate Finance Limited Authorised and regulated by the Financial Conduct Authority. A member of the London Stock Exchange. A member of Oaklins International Inc. The Financial Conduct Authority does not regulate all of the products and services referred to in this document. Smith & Williamson is a member of Nexia International, a worldwide network of independent accounting and consulting firms.