Business Support – The Advisors Perspective 19 March 2009 Martin Newsholme
“The beating heart of any region’s economy is its business community”
© 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
2
About KPMG Global network of professional services providing audit, tax and advisory services KPMG Europe LLP established 1 October 2007 incorporating UK, German, Spanish and Swiss practices comprising 23,000 professionals − Meet changing needs of pan–European companies − Faster mobilisation of resources particularly in difficult times
KPMG in the UK − Over 10,000 staff and partners − 22 offices across the UK including Manchester, Preston and Liverpool
© 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
3
About KPMG in the North West Manchester Preston Liverpool 837 Professional & Support Staff in the North West Of the big four firms in the North West, KPMG has the largest share (38%) of the SME Marketplace We offer a range of services including audit and accountancy, taxation, compliance and advisory, corporate finance, restructuring, transaction services and forensic accounting
Š 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
4
KPMG SME Clients
Š 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
5
Confidence Slumps as Britain Prepares for a long and deep recession 87% of UK businesses think the economy will get worse before it
gets better 81% of businesses view prospects for the British economy as ‘bad’
or ‘very bad’ 31% admitted that they have experienced financing difficulties over
the last 12 mths 51% of businesses experiencing tighter borrowing Recent measures announced by the government to stimulate bank
lending have not yet cascaded down to businesses © 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
6
How are businesses responding? The brakes are firmly on corporate expenditure Cost cutting Better cash management ď Ź Employment costs under the spotlight
Recruitment Freezes Redundancy Programmes Flexibility
Š 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
7
Rebuilding Business
Unblock credit markets
Cashflow assistance and support
Maximise export opportunities
Encourage entrepreneurs
© 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
8
What do entrepreneurs want
Enthusiastic support and encouragement
Cashflow assistance
Less bureaucracy
A level playing field
© 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
9
Simple Support, Better Business
Simple, fast, effective communication
Keep it relevant
Minimise bureaucracy and form filling
Quick access to funding
© 2009 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation and use are restricted. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative.
10