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Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
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Digital Risk
Grant Thornton offers solutions to the digital risk issues you are sure to face. Our skilled and experienced security team can helping by advising and consulting, giving you peace of mind, clear value for money and an enhanced ability to react to attacks.
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Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
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Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Employer Solutions
Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Entrepreneur and Private Client Taxes
Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Global Mobility Services
Grant Thornton offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Outsourced Payroll
Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
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VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
Working capital management
17 Jul 2018There remains a level of stagnation and uncertainty for many Northern Ireland businesses, highlighted by a number of recent business failures. These provide a timely reminder of the importance of managing cash flow; working capital management is the process of managing short-term assets and liabilities so that a firm has sufficient liquidity to run its operations smoothly. Effective working capital management is critical to protect businesses against market downturns or supply chain disruption.
Liquidity is often tight in small businesses due to the scale of their operations. In particular, small companies may find access to external funding to be expensive or even elusive. A focus on working capital can be a cost-effective source of funding and one which is often overlooked by management teams. The phrase “cash is king” is often mentioned in business forums but it takes a proactive business to embed a culture of regular cash flow review.
Robust daily or weekly cash flow forecasting will help ensure that you understand the cash flow of the business and, perhaps crucially, detect challenges which may lie ahead.
A business should also investigate and understand available sources of financing. Invoice discounting and supply chain financing are typical tools utilised by businesses to fund working capital. The cost of these facilities will reflect the risk involved but tend to be lower priced than leveraged loans or mezzanine finance.
There are many ways to ensure the business unlocks funds from its own working capital for short-term requirements, such as:
Monitoring of stock – employing a ‘just-in-time’ stock process will ensure that cash is not unnecessarily tied up in inventory, although care must be taken to avoid stock outages which may affect future sales and reputation. The sale of obsolete stock will also reduce stock levels and release cash.
Accelerating customer payments – discussions with large or late paying customers, offering discounts for early payment can help with short-term cash flow.
Keep an eye on credit control – reviewing customer’s accounts may identify potential future issues for collection and allow for a quick resolution.
Working with suppliers – negotiating increased credit terms with suppliers may be a temporary option but should be carefully managed to ensure there are no long-term consequences for the relationship.
Monitor payment mechanisms – ensure supplier invoices are only authorised for payment when they fall due. Often, companies don’t realise that they are not taking full advantage of negotiated credit terms.
Delay discretionary expenditure as required – ensure that any money leaving the business is necessary for the sustainability of the business.
These are some examples to help achieve immediate improvements for short-term funding. Incorporating these processes, tightening controls and instilling the discipline of managing working capital into the workforce can have a dramatic impact on the cash position, allowing the business to fund growth projects via longer-term finance options.