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Interactive Diagnostic

Stratford-upon-Avon

13 The Courtyard
Timothy's Bridge Road
Stratford-Upon-Avon
Warwickshire CV37 9NP

01789 294484

enquiries@gjassociates.co.uk

London

7-8 Stratford Place
Mayfair
London
W1C 1AY

0207 495 0304

enquiries@gjassociates.co.uk

Commercial finance can be a game changer for businesses looking to scale. Growing companies face numerous financial challenges. Access to the right commercial finance can ensure you are in the best place to seize opportunities and maximise the growth potential of your business.

We spoke to Liam Chandler of G&S Financial Solutions to determine how ambitious companies can secure their working capital to hit their targets and thrive. 

What is commercial finance?

Commercial finance, including factoring, invoice discounting, and asset-based lending, offer businesses alternative funding options based on their assets. Essentially it improves cash flow and meets financial needs, unlocking growth opportunities. Ultimately, small business owners can rely on commercial finance to access working capital, fund expansion, and achieve their goals.

How does commercial finance work?

Commercial loans can be a game-changer, fueling business growth and prosperity. Similar to personal loans, they offer flexibility and tailored repayment plans, empowering you to succeed. With fixed interest rates based on your creditworthiness, commercial loans are the key to unlocking your business’s full potential.

What are the current financial challenges facing businesses?

British business owners have displayed remarkable resilience and entrepreneurial spirit in the face of significant challenges. The impact of COVID-19, economic uncertainty, and a cost-of-living crisis have tested their mettle, making it challenging to navigate harsh trading conditions.

With consumer spending affected and inflation on the rise, ambitious businesses face limited lending options, making cash flow maintenance crucial. That said, news of the UK avoiding a recession will improve lender confidence.

How can commercial finance help businesses stay resilient?

Many businesses face the challenge of lacking funds to pursue growth opportunities like acquiring equipment, expanding premises, or hiring key personnel. Despite their ambitions, their immediate finances need improving. Crucially, by securing the right commercial finance solution, you can overcome these obstacles and take the crucial next step towards growth.

What signs might indicate a need for financial support?

Signs that a business may require a commercial financing solution include insufficient funds for critical investments or struggles in meeting financial obligations. At G&S Financial Solutions, we offer tailored financing options to address these needs and help businesses achieve financial stability and growth. 

Why use a specialist commercial finance broker?

A specialist commercial broker offers impartial advice and access to a wide network of commercial lenders and private banks. These lenders are actively looking to support viable business propositions, providing a genuine alternative to traditional high street lenders.

If your bank falls short in offering the support you need, a specialist broker can help. By quickly assessing available options, a commercial broker will find a workable and affordable business solution.

How do you help businesses secure the proper funding?

At G&S Financial Solutions, we offer a wide range of financing solutions to support businesses needing financial assistance. We offer Commercial Mortgages, Property Development Finance, Business Loans, Short-Term ‘Bridging’ Finance, Factoring, Equipment Leasing, and guidance on Grant Funding and the Government Enterprise Finance Guarantee Scheme (EFGS).  

With a track record of securing funding where others fail, we help clients save significant amounts of money over the course of the loan. Many specialist lenders in the current market prefer to work with qualified and packaged mortgage and loan proposals from brokers like us.

Every business is unique. We take a tailored approach to match the right lending option to their specific needs and goals. Our expertise and personalised guidance empower businesses to make informed decisions and confidently pursue financial success.

Perhaps you’re buying or starting a business, securing long-term capital for commercial property, funding a project, or exploring alternative financing. Whatever your circumstances we can match you to the right commerical finance solution.

Tell us how you’ve helped a client achieve financial stability. 

We recently helped a group of companies facing credit finance issues by implementing an invoice factoring solution in collaboration with a trusted lender. By leveraging their outstanding invoices, we were able to give the client access to immediate working capital.

In this scenario, invoice factoring proved effective in improving cash flow, alleviating financial strain, and ensuring timely payment of staff. The solution brought ongoing stability by relieving the firm of invoice collection and management responsibilities. The company could concentrate on core operations and growth. Ultimately, invoice factoring addressed the financial challenges and delivered long-term stability, empowering the enterprises to regain control of their finances.

What factors should be considered if pursuing commercial finance?

It is crucial to consider several factors. Gaining a thorough understanding of your recent accounts is a must. Doing this, will allow us to assess your financial situation and identify any challenges. We recommend consulting with your accountant who will provide valuable insights and help paint a clear picture of your company’s financial landscape.

At G&S Financial Solutions, we believe in doing right by the customer. We’re open to clients seeking other opinions. There is a funding solution for almost everyone, and we are committed to helping businesses find the right one.

What sets you apart and makes your services unique? 

At G&S Financial Solutions, we focus on trust, transparency, and comprehensive guidance. Ensuring our clients understand the options and potential outcomes is critical. The commercial financing industry lacks the same regulatory framework as personal finance, we uphold the same high standards.

We are qualified and regulated by the Financial Conduct Authority to offer Residential funding solutions. And we take the same approach on the Commercial side, ensuring that our clients receive expert advice and guidance. We believe in doing the right thing, always acting in our client’s best interests. 


By working with commercial finance brokers like G&S Financial Solutions, Grenfell James can support you to revolutionise your business finances. Connect with Liam Chandler on LinkedIn or call 07833 303 776 for a no-obligation chat – tell him we sent you!

As the UK tax year draws to a close, it’s essential to get your financial affairs in order. Importantly, doing this will give you the confidence to make sound business decisions. With looming tax return deadlines and other tax-related responsibilities, managing everything on your own can be overwhelming. This is where a trusted accountant can help.

At Grenfell James, we are a progressive accountancy firm that uses the latest technology to revolutionise our clients’ businesses. By combining our expertise with cloud-based accounting software, we streamline processes and provide real-time financial information to our clients. Our approach gives our clients the confidence to make informed business decisions.

When does the tax year start and end?

The UK tax year runs from April 6th to April 5th of the following year. This differs from other countries that use a calendar year for their tax year. In the UK, the deadline for filing online tax returns is January 31st, following the end of the tax year. According to the latest data from HM Revenue & Customs, over 11.5 million tax returns were submitted on time for the 2022 tax year deadline, and just over 1 million were filed late.

We’ve put together an end-of-tax-year checklist to help you prepare for the end of the tax year. This includes reviewing accounts and financial statements, ensuring employee salaries and wages are accounted for, reviewing expenses, making pension contributions, reviewing VAT returns, and more. Completing this checklist will ensure you comply with tax regulations and take advantage of all available tax-saving opportunities.

Revolutionise Your Finances: The Essential End of Tax Year Checklist

  1. Review your accounts and financial statements to ensure they are up-to-date and accurate.
  2. Consider any outstanding debts and take steps to recover them before the tax year-end.
  3. Review your stock levels and write off any obsolete or damaged stock.
  4. Ensure all employee salaries and wages are accounted for and included in the payroll for the tax year.
  5. Review your outstanding invoices and ensure they are included in the year-end accounts.
  6. Review your expenses and ensure all legitimate business expenses have been claimed and included in the accounts.
  7. Consider making pension contributions to reduce your taxable profits.
  8. If you are eligible for research and development (R&D) tax relief, claim it before the end of the tax year.
  9. Consider investing in new equipment or assets to take advantage of tax allowances and reduce taxable profits.
  10. Ensure you have kept accurate and complete records of all transactions throughout the year.
  11. Review your VAT returns and ensure you have accounted for all VAT correctly.
  12. And finally, seek professional advice from a qualified accountant or tax specialist to ensure you fully comply with all tax regulations and take advantage of all available tax-saving opportunities.

Streamline Your Tax Year with Grenfell James

Working with Grenfell James means our clients don’t have to worry about managing their finances independently. Our team of experts is always available to answer questions, provide guidance, and help our clients navigate the complexities of tax laws and regulations.

As the end of the tax year approaches, it’s essential to have a plan in place. By working with Grenfell James, you can rest assured that your financial affairs are in order, giving you the confidence to make informed decisions about your business.

Contact us today to learn more about how we can help you prepare for the end of the tax year and beyond. Let’s revolutionise and simplify your business today!

We predicted a gloomy economic outlook, but we expected worse news. That also seems to be the rhetoric from many people after yesterday’s Autumn Statement announcements.

‘Eye watering’ tax increases were expected, as well as potential percentage points added to dividend and income tax rates which never materialised.

The main driver for the announced tax rises is the ‘fiscal drag’, essentially a slowing in the economy’s growth. Tax bands and allowances were frozen, meaning more people would pay taxes for the first time or higher rates.

It seems business owners are in a rock and a hard place. After all, when one eye is fixed upon your destination, only one eye is left to find the Way. The Autumn Statement and prior reversal of tax reversals have not made it easy, and now business owners face more obstacles to navigate.

What are the problems of a higher tax burden?

We are on course for the highest tax burden since WW2.

The dividend allowance has been halved and is to reduce further in 2024. The additional rate at which individuals pay 45% is also now reduced. Add to the mix the increase in the corporation tax rate to 25%; many businesses will be reviewing how they can manage the new tax burden.

Businesses may find it challenging to grow and expand in this environment. And with R&D relief also being struck with the incentives reduced, it looks like an anti-growth set of policies.

A lack of staff, inflation hitting the cost base, and increased living wage will further burden businesses, especially those in the hospitality sector.

Energy support for business will likely reduce significantly in 2023; a consultation on this support is due in December 2022. One good change for those businesses was the increase in support for business rates in the hospitality and retail sectors, with this increasing from 50%-75%

Glenn Collins, Head of technical and Strategic Engagement at ACCA, commented on tax policies: “While a route map for tax changes ahead is useful, wage inflation has raised the spectre of fiscal drag. Scrutiny and transparency about the implications of these tax changes will be key, especially where taxpayers find themselves subject to additional administrative requirements. Many more businesses (and individuals) will find themselves caught in the VAT and CGT regimes at a time when HMRC is already under severe pressure.

“The aim of the statement, it appears, was to provide stability and show how we are fiscally more responsible. The picture painted was gloomy, and with the war in Ukrainian driving the cost of energy up and impacting inflation, the growth forecast for the UK is still below pre-pandemic levels, which is slower than other countries. Should there have been more incentives and impetus for growth? Taxing and reducing spending too far can not quickly drag us out of this recession. We shall wait and see; businesses need more help now than ever to navigate these changes and plan a way through.”

Small businesses must now take stock and plan ahead in 2023. Looking at costs, cash flow, and overall business strategy to remain profitable will be critical to survival and growth. 

At Grenfell James, we work with ambitious companies across Warwickshire and London, using technology to simplify processes and accelerate business growth. If you need help or advice with your business growth plans, tax efficiency or profitability, don’t hesitate to contact the Grenfell James team at 01789 294 484.  

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A healthy cash flow is critical to running a business, even more so in a cash-crunch economy. We share tips to help you improve your cash flow and stay profitable during tough times. 

A positive cash flow will help your company grow and see you through low sales. Whether your business is a start-up, growing, stable, or you want to exit, you must have substantial working capital.

It is critical to understand how much money is coming in and going out of the business to make any necessary adjustments. When you can project your cash flow accurately, you can make sound business decisions and steer your company in the right direction.  

At Grenfell James, we help businesses to feel financially confident. Talking to your Accountant often can help you manage and prevent cash flow difficulties.

Ten ways to a positive cash flow

#1 Increase your pricing 

The cost of living is increasing, which means your company expenses are increasing too. During periods of market volatility, you want to ensure you raise your prices to offset the change in running costs. Doing so will ensure you keep a healthy cash flow. Reviewing your pricing should be a staple part of your business process, giving you a competitive advantage whilst improving your cash flow.  

#2 Prepare cash flow forecasts 

Regular analyses will help you learn how much cash is coming in and going out of your business. A cash flow forecast is a great tool to measure if you’re on track to meet your business growth targets. Knowing how much money you will receive or spend, you can decide on the most helpful areas to invest in to realise your goals.  

#3 Make your payment terms work for you 

Most businesses in the UK have a 30-day payment terms policy. However, if you are a start-up or small business, consider using shorter payment terms to encourage quicker payments. You can also introduce an upfront payment or deposits to get your clients to pay for part or the whole service in advance. Shorter payment terms speed up money coming in, improving the cash flow of your business.  

#4 Issue invoices promptly 

Invoicing should be a top priority for any business. Getting your invoices out as soon as work is complete will help your cash flow and support your professional reputation. Many large organisations issue payments periodically in cycles. Delaying your invoice may cause you to miss a cycle and significantly affect your cash flow. 

#5 Use a cloud-based accounting software 

Investing in a digital accounting solution like Xero can significantly help you improve your payment times. Tools such as Xero enable you to keep all your finances under one roof, giving you complete control and visibility on pending invoices and bills needing payment in real-time. With Xero, you can raise and send invoices and automatically reconcile transactions with your bank account. Plus, there is a Xero feature for invoice reminders. Automating overdue payment reminders makes the tracking and chasing of owed money a lot easier and less awkward. 

#6 Make it easy for clients to pay you 

Paying your invoices should be easy for your clients, so make the process as simple as possible. Ensure your invoices are easy to read and include all the available payment options. Ask your clients what payment method works best for them, and be flexible.

If you sell products, customers may want to pay by credit or debit card. If you are a service-based company, clients may pay for regular work on a retainer basis, splitting the total cost into equal monthly payments. Online accounting software like Xero can be linked to digital payment services, such as GoCardless, Stripe or iwocaPay, to manage online payments flexibly. Once your Xero account is attached to a payment service, you can add a ‘pay now’ button to your invoices and encourage your clients to pay you immediately.  

#7 Make cash flow your focus when evaluating your profit margins 

Another often overlooked reason for cash flow problems is low-profit margins. Many businesses lower their prices during quiet periods to compensate for slow sales. Reducing your prices can be more damaging overall because it reduces the amount of money available in your pocket to pay your bills. A healthy profit margin will allow you to easily cover your company’s expenses and keep enough money in the bank to cover anything unexpected that may crop up. 

#8 Extend supplier payment terms 

When cash is tight, and you’re looking at ways to improve your working capital, you can ask your suppliers if they would be willing to extend their current terms. For example, if you’re due to pay your invoices in 30-days, perhaps you can negotiate 60- or 90-day terms to boost your cash flow. 

#9 Apply for a business loan 

If required, weigh the benefits of securing a business loan, often more affordable than a business overdraft or credit card. A business loan can boost your cash flow, pay business expenses, help with payroll, manage uncertainty, grow your business and cover revenue gaps. Before taking out a loan, you should consider: talking to a finance professional, being clear about your loan purpose, calculating how much you need and how much it will cost you to borrow the money you want and exploring your lending options. 

#10 Build up a cash flow reserve 

A cash reserve encompasses all the ‘liquid’ assets (i.e., cash and money market funds) your company keeps on hand to account for emergencies. Building a healthy cash flow reserve will ensure you don’t run out of cash in various scenarios, such as covering unexpected payments or your taxes, helping you sustain the business’s operations during quieter periods. Although a cash flow reserve can often be difficult to accumulate, it will provide your business with a safety net. 

Overall, having a good grasp of your company’s cash situation is crucial to surviving as a business.  

Are you interested in learning more about managing your cash flow or receiving our free cash flow forecast template? Get in touch at 01789 294484.

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    Grenfell James Technology Adoption Index

    How does your business perform against others adopting financial tech? Find out with our interactive diagnostic:

    1.

    How does your business receive invoices?

    A)

    Invoices are mainly received in paper form

    B)

    Invoices are mainly received by email

    C)

    Invoices are emailed then automatically forwarded to a designated mailbox

    2.

    How are purchase invoices processed?

    A)

    Invoices are entered manually

    B)

    Invoices are attached to manually raised invoices

    C)

    Automated software (e.g. ReceiptBank, 1Tap, HubDoc etc) collates invoices

    3.

    How are accounts processed?

    A)

    Using Excel/paper-based

    B)

    Using Computer-based, offline software

    C)

    Using cloud-based accountancy software

    4.

    How often is business data revised?

    A)

    Data is updated annually

    B)

    Data is updated quarterly

    C)

    Data is updated monthly or more often

    5.

    How is banking updated for your business?

    A)

    Banking is updated manually

    B)

    Banking is updated by imports

    C)

    Banking is updated via a live feed

    6.

    How are bank payments made?

    A)

    Bank payments are manual

    B)

    Bank payments are made using bulk imports

    C)

    Bank payments are made directly via accounting software

    7.

    How are bank receipts reconciled?

    A)

    Receipts are chased and reconciled manually

    B)

    Receipts are chased and reconciled automatically

    C)

    A third-party platform is used to chase debts and collect fees

    8.

    How often are management reports produced?

    A)

    No reports are provided

    B)

    Reports are provided but often too late to be valuable

    C)

    Reports are automated with real-time information

    Score 8-12:

    Curious Exploration

    Your financial technology phase is Curious Exploration

    % of respondent businesses are in this phase too.

    Switching accountancy systems may seem like an upheaval, but can be much more straightforward than most businesses imagine. From talking to our clients, they have found moving from paper invoicing and desktop-based accounting software to the cloud and apps quickly makes the transition process a worthwhile investment of time. Digital accounting solutions bring in streamlined processes, up-to-date business data and greater confidence in the accuracy of information when making financial decisions.

    Grenfell James works with your team to fully assess the needs of your business and minimise the impact of any transitions for solutions we recommend.

    Find out more about App Advisory

    More

    Score 13-19:

    Measured Discovery

    Your financial technology phase is Measured Discovery

    % of respondent businesses are in this phase too.

    Once cloud accountancy software is in place, there’s still plenty of scope to improve your accountancy processes and make sure your business is maximising the benefits of adopting a digital accounting solution. Grenfell James assesses each business to understand how any implemented solutions are being used, identify areas for improvement and the needs of the business overall to support your business goals and achieve success.

    Our team of experts can discuss a range of time-saving automation and get different apps and cloud-based solutions talking to create and manage a digital accountancy eco-system to help your business grow.

    Find out more about App Advisory

    More

    Score 20-24:

    Bold Innovation

    Your financial technology phase is Bold Innovation

    % of respondent businesses are in this phase too.

    You know the benefits of accounting technology and the impact it can have on your business goals. If you want to take it a step further, our team can conduct a systematic review of your processes, apps and business goals to ensure your digital accountancy ecosystem is keeping pace with the changing needs of a growing business.