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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.
With the current volatile economic conditions, finance teams and business owners should be focusing on the impact of the cash cycle on their business and ways in which the organisation can prepare to deal with any impact on cash.
Businesses don’t typically fail from a lack of profit, they fail from a lack of cash - so it’s vital for your business not to underestimate this and to keep on top of your cash position.
What things should you be considering in relation to your business’ cash management?
How are current conditions impacting your working capital and cash flow? A business with a net investment in working capital will need to fund this through cash, and any further increases in the net working capital position of a company will bring a further cash drain on the business. Your business should be prepared for the negative cash impact of movements in working capital so that you can manage the position going forward.
How exposed are you to exchange rate and interest rate changes? There is likely to be volatility in exchange rates and interest rates. You should consider what variations may occur in your cash and cost profile from these fluctuations.
Have you factored potential cost increases into new contracts? Entering into new contracts, your business should be armed with as much knowledge as possible in relation to potential cost increases affecting the contract. Contracts which may seem viable currently, could have the potential to be detrimental to the business in the future, if you are unable to pass on cost increases and you have been locked into an unprofitable contract.
Are you planning to refinance or seek growth capital? Depending on your individual scenario and industry sector, there may be a change in risk appetite of funders, which could impact, for example, on the availability of funding going forward, or on interest rates offered. This should be considered when you are considering if the timing is right to refinance, or for inclusion when assessing your repayment ability in cash forecasts. Businesses should be exploring the Government support packages, such as the Coronavirus Business Interruption Loan Scheme and Job Retention Scheme, to enhance their cash position where possible.
Insulate your balance sheet. A robust balance sheet can help protect against harmful trading performance impacts. It’s important to ensure that you have enough liquidity in your balance sheet by reviewing and optimising working capital performance, exploring alternative sources of finance and reviewing hedging positions.
Reduce your cost base. You should consistently be reviewing your businesses operating model in order to identify any efficiencies that can be made.
Stop or decrease discretionary spend. An important aspect of cash management is the monitoring of discretionary spend. Your management should be considering whether costs are absolutely necessary for the success of the business.
Pre-empt cash flow challenges. One of the most important elements for management to concentrate on in times of volatility or restricted cash headroom is the ability to identify a cash flow issue in advance of the issue arising. In order to do this effectively, your business should review and strengthen your cash flow forecasting processes and assumptions.
Monitoring debt and covenants. It’s important to understand the impact of the cash flow projections on debt and bank covenants. Should the projections indicate a potential breach of covenants, the business should seek to implement strategies to mitigate against the breach.
While there may be many issues that are out of the control of business owners and finance teams, now is the time to focus on the areas you can control – and cash flow is top of that list.