Fuelling your momentumCommercial, financial and taxation advice for growing businesses and their owners

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Unleash your businessIf 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 deliverPut 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.

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Seven reasons why Smith & Williamson is uniquely positioned to help you and your business.

Fuelling your momentum

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12 offices and an international capability in over 100 countries.

The experience and resources of a top ten UK accountancy firm

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 excellenceWe 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.

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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

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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 reviewsClients 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.

2We’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

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End–to-end services for growth businesses and their owners — from vision to exit and beyond

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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.

Early stage

Strategy and structureOutsourced accounting/KPIs

PayrollSEIS/EIS and R&D tax creditsTax and VAT advice and complianceEmployee incentives

Growth Audit and assuranceCorporate taxCorporate finance and funding supportDebt advisoryTransaction supportValuations

MatureExit and succession planning

M&A AdvisoryMBO/MBITrade saleFlotation

Personal tax

The entrepreneur…

...and the business

Early stage

Growth

Mature

1

2

3

1 2 3

Partnering with entrepreneurs to achieve their personal and business goals.

Financial planning

Pensions Entrepreneurs relief

Investment management

Family office

Exit and succession

Estate planning

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As members of Nexia International and Oaklins International, Smith & Williamson and its associates can support your business anywhere in the world.

Comprehensive international connections

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.

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50

Global mid-market 2018 by volume (value US$)

Deals completed up to US$5–250mSource: www.mergermarket.com, Oaklins.

Oaklins

PwC

KPMG

EY

Raymond James

0

Deloitte

Rothschild

Houlihan Lokey

100 150 200 250

Lazard

BDO LLP

222 deals

160

156

139

123

96

64

54

54

50

(9.5 billion)

(10.8 billion)

(11.0 billion)

(8.7 billion)

(8.6 billion)

(10.8 billion)

(5.8 billion)

(6.5 billion)

(4.4 billion)

(2.5 billion)

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Complementary support services through carefully chosen strategic partners5

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

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

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

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

Freeman Clarke is the UK’s largest and most experienced team of part-time IT directors. They work exclusively in the mid-market, supporting their clients with clear IT strategies, driving their growth and providing peace of mind. freemanclarke.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

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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 world-leading 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

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 like-minded peers, providing inspiration, support and challenge in a confidential community. preludegroup.co.uk

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

“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 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 best-in-class business services and expert advice, within a safe and trusted environment.”

Geoff Lawrence, Marketing Director, Vistage

“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

Fresh Business Thinking is a leading online resource for business owners and directors running small to medium-sized businesses in the UK. freshbusinessthinking.com

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Regular communication and access to thought leadership are at the heart of our programme to support the entrepreneurial and scale-up business community..

Thought leadership — communicating and sharing our expertise

Seminars and conferencesWe 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 updatesWe host regular workshops and seminars designed specifically for senior finance staff.

Newsletters and publicationsWe regularly produce general and sector-based newsletters and bulletins.

SurveysOur 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.

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ENTREPRENEURS AND GROWTH COMPANIES

INSPIRATION FOR

ISSUE 22

Kanya King on building

brand MOBO

Also in this issue

Celebrating female founders

Overcoming adversity to build

successful businesses

ScaleUp Institute

Insights from the 2018

ScaleUp survey

Budget 2018

Entrepreneur-friendly

measures

Is the tide turning for small businesses?The Smith & Williamson Enterprise Index has been charting the confidence

of business leaders for over five years. The current figures, compiled in

the summer of 2018 from over 1,000 respondents, show continuing robust

confidence among the small business sector, a reflection of the strength

they are seeing in their individual business and trading partners.

120.0

115.0

110.0

105.0

100.0

95.0

90.02015

2018

2016

2017

Enterprise Index: a barometer of SME confidence

First Conservative majority in 23 years

George Osborne’s Summer Budget

announcing changes to dividends,

introduction of the national living wageBritain votes to leave the EUTheresa May/Philip Hammond succeed

David Cameron/George OsborneArticle 50 triggeredHung parliament

2018 FIFA World Cup

1

1

2

3

4

5

6

23

4

65

7

7

Enterprise Index H2 2018

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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.

Added value through meeting and learning from fellow entrepreneurs

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.

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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

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Smith & Williamson offices:

• London• Belfast• Birmingham• Bristol• Cheltenham• Dublin (City and Sandyford)• Glasgow• Guildford• Jersey• Salisbury• Southampton

For more information

UK contact detailsTelephone: 0808 164 0100

Email: momentum@smithandwilliamson.com

Website: smithandwilliamson.com

Twitter: @SmithWilliamson

LinkedIn: Smith & Williamson

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.

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.

scaleupdiagnostic.comIreland contact detailsTelephone: +353 1 6142500

Email: scaleup@smithandwilliamson.com

Website: smithandwilliamson.com/en-ie

Twitter: @SandWDublin

LinkedIn: Smith & Williamson Ireland

Smith & Williamson is a member of Nexia International, a worldwide network of independent accounting and consulting firms.

www.smithandwilliamson.comWe 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 2020.

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 Investment Management LLP Authorised and regulated by the Financial Conduct Authority.Registered No 580531.

Smith & Williamson Financial Services Limited Authorised and regulated by the Financial Conduct Authority.

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, including Tax, Assurance and Business Services.

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Capital at risk. The value of investments and the income from them can fall as well as rise and the investor may not receive back the original amount invested.