FAQ

I am a fellow of the Institute of Chartered Accountants in England and Wales, a member of the Institute for Turnaround and a non-appointment taking member of R3. I also passed my Institute of Banking Exams while working for the Woolwich Building Society back in the early 90s.

I also have an Open University qualification in Digital Photography!

No! The work I do applies similar principles across all types of industry sector so while the details (and jargon) may be strange at first the underlying nature of the work doesn’t change. I enjoy getting to know different businesses and sectors and have become used to quickly assimilating what I need to know to begin providing useful advice.

Most Banks have panels of professionals like me who they introduce to their customers as they see fit. This is done because they believe your business will benefit from the support I can provide which is in turn mutually beneficial to business and bank.

My engagement however is always with you as the client and it is to that client that I owe a duty of care. As and when you need me to communicate with the bank will be done only following full consultation with you and will be fully disclosed after the contact.

This depends on the complexity of the task and the information and resources you have, If the requirement is to produce a profit forecast but you do not currently produce management accounts the time required will be greater than if those accounts were available.

It depends. If there is a defined task, I am more than happy to work on. a fixed fee basis providing there is clear agreement of who is responsible for what, what information will be made available to me and what assistance I will receive from the client to provide what I need to complete the work.

Banks have different names for their “intensive care” departments so I am using the term Business Support as a catch all. Business Support managers typically have smaller portfolios, greater discretion and are more experienced in assisting their customers than relationship managers.

So, while a move into these teams is not good news it does provide an opportunity to get the things that need to be done to resolve the problems the business has been suffering from.

I have almost 30 years’ experience of working with these departments and providing the support to customers working with a new bank manager to get the best results for my clients and return them to the mainstream relationship network at the earliest opportunity.

Business reviews are typically carried out by an independent firm of accountants who the bank instructs to report on a very specific number of issues in relation to the finances of the business. They can be disruptive, are usually expensive and the customer has no control over the process.

There is an alternate way. I have carried out many business reviews. Instructing me to produce such a report for the directors before the bank makes such a request is significantly cheaper, more focussed on the issues that matter to the company and totally under the company’s control.

No. Absolutely the contrary.

While I expect to be actively involved in the direction and management of the business, I only advise the board of directors / ownership / management.

I am very careful to ensure that I can in no way be construed to be a shadow director.

The question of when a customer becomes a debtor is one of the most difficult any business faces. Where does the balance sit between maintaining / increasing sales end and cash flow? This is an area I have extensive experience of, I can provide a whole range of solutions

HMRC have produced a handy page on their website which will provide you with the answer: https://www.gov.uk/business-coronavirus-support-finder