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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.
Turnaround – turning management jargon into a reality
20 Sep 2016Few businesses need reminding that we are now eight years on from the onset of the financial crisis of 2007/08. Our local business community has changed immeasurably with some of our most high profile businesses unfortunately shutting their doors for good.
Thankfully, confidence is gradually returning to the local business community, albeit at slower rate than we would wish for. With announcements of job creation now more common place, increased conventional and alternative funding available, and transactional activity on the up, on paper it would seem that this is the time that all businesses within Northern Ireland should have growth at the forefront of their strategies.
However, the insolvency statistics for Q2 in Northern Ireland show that for all businesses this is not the case. Corporate insolvencies are up 41.8% on the same quarter in 2015, with personal insolvencies up 8.5% over the same period.
For most of the businesses that entered an insolvency process during this period this is a long term legacy of the financial crisis. Since the onset of the financial crisis growth has not been an achievable aspiration; merely keeping their doors open has been their fundamental objective. Businesses in this position, being on the verge of insolvency, are usually shackled by cash flow pressures and typically operate on a month to month or even week to week basis.
Every business is different, therefore there is no such thing as a one approach fits all model for turning a business around. An effective turnaround strategy needs to be bespoke and multifaceted often involving a complex consideration of short and long term strategic review, appraisal of financing mix and future funding requirements, operational restructuring, stress testing of the balance sheet, consideration of management ability and their core objectives, amongst other areas.
For many carrying out a review of this nature is difficult, if not impossible. Firstly, given the time consuming nature of running a business many simply do not have the time. Secondly, most people are so heavily engrossed in the day to day aspects of their business they are unable to produce a truly independent and effective medium to long term strategy that will turn their business around. This is where management need to seek professional advice, and in partnership with a trusted and experienced advisor, produce a bespoke turnaround strategy that will allow the business not only to survive the short term but return to growth for the medium to long term.
What needs to be remembered is that a review of this nature should not just be limited to businesses that are struggling financially. Worryingly many businesses are still heavily exposed to the economic challenges that are still to come, without an effective plan for how to mitigate these risks and continue to meet their objectives. With growing fluctuations in the international money markets, ongoing public sector cuts, increasing changes to consumer trends and the obvious uncertainties surrounding the mechanics and timing of Brexit, management need to be agile and alert to these and the other challenges to come.