I have always looked upon October as an in-between month. It is the end of summer and the start of autumn, yet it doesn’t seem to fit into either very well. The good weather that we have enjoyed this summer will soon be replaced by cold winter winds and wet weather. And those in turn will give way to warmer days once April and May arrive.

I am always amazed by the cyclical nature of the seasons we enjoy in this country. This ever-changing pattern can play tricks on us. I know that come the dark, cold and gloomy days of February that I will be completely unable to remember what a warm day in July feels like, and probably believe that such warmth could never return.

So it is in our business lives. When things are going well it is difficult to remember the steps and struggles we had to get to that point. And those of us who believe that once our business is working well with happy customers, contented staff and good profits being made that nothing could ever change – are likely to be in for a rude shock.

Change and transition is with us all the time. Those of us who can live with change and adapt to the new have a greater chance of flourishing, enjoying life and creating business activities that are of value to others than less adaptable businesses.

As a firm of accountants working with entrepreneurs and innovators we have seen a new and exciting landscape develop in the past few months. It is hard to believe that 12 months ago economists were undecided about the strength and depth of the UK recovery, but now there is broad consensus that we are living through one of the most remarkable periods of economic growth, whilst elsewhere in Europe there are signs of slowdown and even recession. Our clients are full of optimism with exceptionally high levels of orders and sales, creating jobs and seeking new investment.

A new source of finance that entrepreneurs can look to these days in order to expand their businesses is crowdfunding. Equity crowdfunding has become the obvious way that start up businesses can fund early growth and White Bruce has been working with businesses in developing their pitches and administering the legal complexities that an equity issue to the public entails. The tax reliefs that investors can enjoy by investing in new companies via Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) means that income tax liabilities and capital gains tax are either slashed or eliminated altogether. Whilst for the entrepreneur, R&D tax relief, NIC employment allowance, and when the business is sold Entrepreneurs Relief, all combine to offer substantial help in making a new business a success.

At the same time as these Government tax initiatives are taking hold there is assistance to help smaller businesses access new sources of funding. Growth Accelerator is a Government backed scheme, which is designed to for growing businesses to accelerate their expansion by developing new business strategies that will attract new investment. This service is delivered through Growth Coaches, and Dave White of White Bruce has just been appointed as a coach for this service. If you want to find out more please contact him on dave.white@whitebruce.com

Other changes within White Bruce have been the expansion of our team with new associates and staff joining us. Our focus continues to be on developing a rounded team that can service entrepreneurs, innovators and people looking to invest in these exciting new businesses. That means having sufficient skills on hand that have an in depth knowledge of taxation, company accounting, project work and bookkeeping to look after the needs of our growing list of clients. We are delighted to say that we shall be working closely with Arthur Edwards, John Garfitt, James Coward, Simone Paull and Fiona Carson in the coming months as the next phase of our expansion develops.

And finally, in the first week of November we shall be moving office premises from North Lodge to Mendip Court , both of which are in South Horrington, Wells. Whilst this move is no more than half a mile it will enable us to develop our own expansion plans, create new services and continue in our objective to be an inspiring accounting and tax partnership for clients to come to.

If anything in this newsletter has got you thinking about your business and plans for the future, we would be very happy to hear from you. My email address is simon.bruce@whitebruce.com

Simon Bruce
26 October 2014

Simon Bruce

Author Simon Bruce

Simon qualified as a Chartered accountant with BDO London in 1982 and then began a career taking in banking, manufacturing and international trading working in UK, Europe and Australia. He has worked with publicly quoted companies, family companies and start-ups.

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