OK, things aren’t going to return to how they were pre-Covid any time soon…. We will be living with the consequences of the pandemic and the steps we have taken to control it for a while yet – but it’s not all negative.
For some company bosses, the situation has forced them out of their comfort zone and into looking at new ways of doing business, diversifying or perhaps changing direction altogether, sometimes providing immediate benefits and in some instances, offering great potential for the future.
THE RIGHT KIT, THE RIGHT COACH
In the same way that our children have been checking they have the right kit for the new school term, this is a time for businesses to check they have the right tools for the job of bringing employees back into the workplace or consolidating new ways of working in the business environment we find ourselves in.
Kids also need their teachers as never before – helping them, not only get back on track with school work, but also reassuring them about the new way of doing things, and supporting them as their world continues to change.
And there are parallels here with the role that Cheshire Accountants, Afford Bond, can play in the business world. We’re not just here to sort out the accounts at the end of the financial year (although of course, these will be safe in our hands): we are here to advise and guide as you plan and deliver a pandemic/post-pandemic resistant business model and ways of working to help your business flourish into the future.
Many people fear that the bills start to roll up whenever they pick up the ‘phone to their accountant, but that’s not how we work: we are ready to meet and listen to our clients as an integral part of our service – helping them with options for tax savings, grants, loans and business efficiencies based on our years of experience.
A SHOPPING LIST WITH MONEY BACK
We can help by identifying elements such as R&D credits – tax rebates for money spent on developing new products or services. People often think R&D is all about people in white coats in laboratories – but research and development can simply be about time spent exploring and creating a new offer: we can quantify the amount of time and resources spent doing this, which in turn will give a figure you can expect as a tax rebate.
Another aspect of business life we support is payroll. We can give you the peace of mind of knowing that your payroll is fully compliant in an ever-changing work environment as well as alerting you to any government grants that may be available to help you keep your workforce together in difficult times.
STAYING AHEAD OF THE CURVE
The current business environment has reinforced the importance of good cashflow forecasting. You need to be aware of any funding issues at an early stage, so you can put contingency plans in place. This involves reviewing current expenditure, assessing revenue streams and highlighting any improvements that can be made: another of our key areas of expertise.
… and finally, you may need to look at a different company structure to deal with any changes you have had to make in the way you operate. We can help you understand the potential risks and opportunities of your existing set-up, as well as working through restructuring options to enable your business not just to survive, but to prosper. Whatever your situation – whether you are already a client or not – why not get in touch to talk about your options?
We offer a no obligation chat with Partner Paul Edwards, who says: ‘At Cheshire Accountants, Afford Bond, our job is to ensure your hard work and our knowledge add up to a sustainable future.’