19
2017/18 REWRITING THE RULES A guide for business owners by business owners Annual SME Benchmarking Report
2017/18REWRITING THE RULES
A guide for business owners by business owners
Annual SME Benchmarking Report
1
F o r e w o r d
C h a n g e i s i n t h e a i r
Change is happening all around and business owners take it in their stride, but are they ready for the challenges that lie ahead? The owners of small and medium-sized businesses are used to managing change. They have to
manage everything from shifting regulations and tax regimes to reacting to market forces and
advances in technology. When demands on their time start to build, however, it can be easy to
lose sight of strategic objectives.
With a post-Brexit future beckoning, helping business owners to become better managers of
change is critical to the UK economy. The latest government data reveals that there are more
private businesses in the UK than ever before and SMEs with less than 250 employees account
for almost half of UK revenue and employ 60% of the workforce 1. Can they continue to thrive in
the future? Owner managers are already doing a lot to help themselves, but they could always
benefit from more business support to help them navigate their way to a successful future .
Support is needed in a variety of forms. In an age of digital disruption, businesses may need help
harnessing technologies to enhance their productivity and performance whilst enabling them to
react to market opportunities more quickly. In other cases, they may need support in building a
strong vision and strategy, structuring their business for growth or putting in place a well -
motivated, incentivised management team. Regardless of their specific circumstances, business
owners need access to support from an experienced team of individuals who understand their
sector and can predict the problems they are likely to face in the future.
We want to support our clients and other SME business owners during this time of uncertainty
and this report aims to provide a unique resource, drawing on our research findings and insights
from real business owners and their advisors.
Julie Adams Ben Simpson
Senior Partner, Menzies LLP Chief Executive, Menzies Wealth Management Ltd.
1 Figures from Department for Business Innovation & Skills.
2
“ “
E x e c u t i v e s u m m a r y T h e r u l e s o f b u s i n e s s h a v e c h a n g e d
Business owners have been quick to spot that change is in the
air – affecting markets, trading relationships, tax regimes,
legislation and the continuing lack of geopolitical stability
suggests there could be more to come. Demonstrating a forward-thinking approach, many business owners already have contingency
plans in place in readiness for li fe after Brexit . Others have made sure they have the agile
structure needed - both in terms of systems and decision-making processes - to react to shifts in
market demand and take advantage of commercial opportunities that might arise in the future.
While many SME owners have stress tested their plans and believe they are ‘Brexit ready’ ,
uncertainty surrounding the UK government’s negotiations with the EU is making it hard for them
to invest in building a strong business with confidence. Being aware of the variables affecting
their day-to-day businesses is an important first step to managing change better.
To support SME business owners doing business in these
uncertain times, we conducted research with
over 1,000 UK based SME business owners.
Key findings include:
There is widespread agreement that the rules of business
have changed significantly over the past year
SMEs have become more risk aware
There is an urgent need for more business support
3
“ “ “
“
“
The rules of business have changed – but how?
SME owners are acutely aware that things have changed.
Three quarters (75%) reported that the rules of business
have changed significantly in the past year.
Most respondents revealed that:
When considering business size, smaller
businesses, with fewer than 50
employees, believe the most significant
changes over the past year are increased
competitor activity and a shift ing
regulatory outlook. Those with more than
50 employees, were more likely to note
that decision making had become more
data driven and there was less time to
weigh up the pros and cons.
The most significant changes over the past year are
increased competitor activity and a shifting
regulatory outlook.
Structured for agility, without multiple layers of management and stakeholders to consult, smaller
businesses have found that they can respond to changes quickly if they have the necessary
business information to hand.
Gaining access to accurate, tailored business information has
become a priority. Two-fifths (40%) of younger businesses -
those that have been operating for less than two years - thought
that the most notable change in the past year was that business
decisions have become more data driven. Many SMEs have
responded by using apps and software to give them access to
accurate and reliable data, wherever and whenever they need it,
so they can make decisions in a more timely and informed way.
Gaining access to accurate, tailored business
information has become a priority.
75%
state the rules of
business have changed
40%
of SMEs think business
decisions have become
more data driven
4
“ “
Getting the right business support
For many business owners, professional support networks are
increasingly highly valued and regarded as essential to growth .
A recent study2 by the Federation of Small Businesses has
emphasised growing demand for support, particularly among more
ambitious businesses that are aiming for growth of more than 20%
per annum.
This support can be hard to find and our own research indicates that two thirds of SME business
owners - 64% - lack access to support and regularly feel that they are running their business
alone. The sectors that most reported feeling a lack of access to support were retail and
technology businesses with 72% and 73% respectively stating they lacked access to support .
Professional support networks are increasingly
highly valued and regarded as essential to growth.
Mid-life businesses - those that have been trading between two and ten years - are most likely
to feel that they lack business support , whilst mature businesses are least likely to feel the same
way. Younger businesses that have been trading for less than two years were also slightly less
likely to lack business support than their mid-life counterparts. This data reveals a gap in access
to support for mid-life enterprises – those that are most likely to be pursuing growth strategies,
hiring staff, investing in innovation and experimenting in new markets.
2 FSB Reformed Business Funding report, May 2017.
0%
10%
20%
30%
40%
50%
60%
70%
80%
Start-up (less than 2 years old) Mid-life (2 - 10 years old) Mature (10+ years old)
Business longevity analysis: Do you ever feel you are running your business alone and lack access to support?
YES NO
64%
lack access to
business support
5
Becoming more risk aware
Optimistic and highly-motivated by nature, entrepreneurs
sometimes choose to ignore the risks; preferring to believe
that their business is destined to succeed no matter what.
Things have changed recently however – perhaps in view of
the current uncertainty surrounding Brexit.
Our research identified the top risks were:
For business owners of service sector companies, the biggest risk factor identified for the year
ahead was geopolitical uncertainty and the effect this could have on trading activity.
Cash flow difficulties
Uncertainty surrounding
future trading relationships
Possible breaks in supply
A lack of resources:
skilled people & management
time
96%
of business owners are
aware they are facing
significant risk in the
year ahead
6
TOP RISKS FOR YEAR AHEAD BY SECTOR
Sector Risk 1 Risk 2 Risk 3
Business Services
Geopolitical uncertainty
Cash flow Lack of resource
Hospitality &
Leisure
Cash flow Geopolitical uncertainty
Breaks in supply Lack of resource
Manufacturing
Cash flow Breaks in supply Geopolitical uncertainty
Property &
Construction
Cash flow Geopolitical uncertainty
Lack of resource
Retail
Cash flow Breaks in supply Geopolitical uncertainty
Technology
Cash flow Geopolitical uncertainty
Lack of resource
Transport &
Logistics
Cash flow
Geopolitical uncertainty
Lack of resource
While a break in supply was acknowledged by business owners across industry sectors, those
operating in the manufacturing and retail industries were more likely to be concerned about this
risk factor. In these sectors, supply chain disruption was noted as the second biggest risk factor
after cash-flow difficulties.
Conclusion
Our research shows that SME business owners are acutely aware that the rules of business have
changed and that they must adapt to survive. At the same time, they are calling out for more
business support to help them to adapt their business vision and strategy and to ensure they are
ready to respond to the challenges that lie ahead. Risk awareness is also moving up the
management agenda. Now let’s start rewriting the rules of business.
7
“Access to
accurate,
real-time
business
informatio
n is
imperative
to
facilitate
this way of
working
and
accurately
measure
the effects
of any
change in
direction.”
“
“Access to
accurate,
real-time
business
informatio
n is
imperative
to
facilitate
this way of
working
and
accurately
measure
the effects
of any
change in
direction.”
“
H a v e y o u r s a y …
W h y r e w r i t e t h e r u l e s o f b u s i n e s s ?
Now more than ever, businesses need to
stay flexible and be prepared to adopt new
ways of doing things.
“As co-owner of a property development company, I have noticed that just getting things done
seems to be taking a lot longer than it did before. Customers in the private and public sectors seem
to be more cautious and there seems to be more red tape than ever.
While Brexit and the current political and economic uncertainty is obviously influencing this, it is not
the only factor. It is just part of what happens in the property sector – we are used to dealing with
excessive administration and responding to peaks and troughs in demand.
Now more than ever, businesses need to stay flexible and be prepared to adopt new ways of doing
things. I have found this is easier to do with the right people around me – both advisors and senior
managers. Working together we can overcome market barriers and make positive things happen.”
Arran Atkinson is co-owner and director of Forays Homes
Access to accurate, real-time business
information is imperative to facilitate this
way of working and accurately measure the
effects of any change in direction.
“In today’s challenging markets, where technology is becoming increasingly crucial for businesses to
stay ahead, it is important to be flexible when it comes to working collaboratively with both
customers and competitors and agreeing contractual terms. They should avoid being guided by the
way things have always been done in the past. Access to accurate, real-time business information is
imperative to facilitate this way of working and accurately measure the effects of any change in
direction.”
Andy Theobald, managing director, R&W Civil Engineering
8
T h e n e w r u l e s o f b u s i n e s s
Rule 1 Be quick to think and act Do you feel equipped to take business critical decisions quickly
and if not, why not?
Reflecting on how the rules of business have changed recently,
37% of SME owners said it had become more important to be able
to act quickly and those that had been trading for more than a
decade were most likely to have noticed this change. Whereas
once it was usual to wait for monthly accounts to be compiled
before making big investment decisions or altering pricing strategies, improved access to data
means such decisions may now be taken at speed.
.
37% said it is now more
important to act
quickly
Being equipped to act quickly means using online accounting software that is tailored to give you access to accurate and reliable data, whenever and wherever you need it.
Forecasts had become little more than guesswork but a systems overhaul gave me access to data I didn’t know existed. It was like turning the light on. New data sets allowed me to make important decisions in a number of areas - some linked to procurement and employment decisions too.
An
ad
viso
r's
view
–Ja
mes
Had
fiel
d
A b
usin
ess o
wn
er’s vie
w -
Joh
n C
hase
y, o
pe
ration
s dire
ctor at TV
R A
uto
mo
tive
“ “ “ “
Seek advice about bespoke online systems and use accurate data to guide your business decisions. Ensure manual bottlenecks that may slow your reporting down are
dealt with.
ACTION
9
Rule 2
You can never have too much knowledge Market knowledge and commercial understanding have always
been important to growing businesses but how much do you
know about what the competition is up to? 43% of SME owners
said that competitor activity had intensified over the past year.
Teaming up with external advisors who understand the
marketplace and have up-to-date knowledge of what is
happening can add significant value to businesses focused on
growth.
43%
said that competitor
activity had intensified
Make market mapping part of your regular business management schedule – insights gleaned should be used to inform your business strategy.
ACTION
Market mapping can help businesses to spot opportunities and focus on continued investment in current strategies or to consider diversification into new opportunities. Given the ever increasing pace of the digital business world, it is vital that this is an agile live process and not a stagnant annual exercise. Utilising the wealth of data around the business can ensure timely and accurate judgments are made to maximise results.
Market knowledge is critical to our business and drives our competitiveness. We do rigorous forecasting monthly to establish what we are expecting to come in based on what has been priced, or is being priced or is in the pipeline. We tend to just hear if we have 'won' or 'lost', but we always make sure we get detailed feedback on our pricing and our service offering - as this is a valuable source of market intelligence and will inform our pricing strategies going forward. Recently, we have found that an opportunity to work collaboratively with a competitor has enabled us to learn from each other and we are now bidding for a major project on the M25 with our competitor as a supply chain partner.
An
ad
viso
r’s
view
–G
rah
am S
edd
on
A b
usin
ess o
wn
er’s vie
w -
An
dy Th
eo
bald
, M
anagin
g Dire
ctor at R
&W
Civil En
gine
erin
g
“ “ “ “
10
Rule 3
Make risk management a priority
In uncertain times, risk management has moved centre stage and SME owners need to plan for
every scenario.
Regulatory changes bring compliance issues for many businesses and the rapidly growing risk of
cybercrime has become a real threat. The top three risks identified by SME owners for the year
ahead were cash flow difficulties (45%); geopolitical uncertainty and its effect on trading activity
(35%) and potential breaks in supply (28%). To counter these commercial risks, it has become
more important than ever for businesses to be independently reviewed and challenged on an
ongoing basis.
Make risk assessment an inherent part of your decision-making and planning processes.
ACTION
Business owners need to continually assess the commercial and regulatory risks their business is facing and take steps to mitigate them. However, in my experience many fundamental risks have been prevalent for some time and are ignored or not recognised.
Independent challenge on a business can provide a more objective view, encourage mitigation of fundamental risks thus making a business more sustainable and valuable.
As a construction business, we prioritise risk 24/7. One key area is agreeing terms to ensure we are not taking on too much risk. It is easy to win new business, sign a contract and only realise when trying to fulfil it that the risks outweigh the potential upside. In other words, delivering the contract as agreed would bring huge costs and seriously impact profitability. All too often contracts will include items over which you have no control, but you will be requested to take the risk and this should be avoided. When agreeing a contract we say: "Your area of control must not enter my area of risk." As we prepare for Brexit, it is important to be aware of risks that may lie ahead and while we my choose to wait for more certainty, we have a strategic plan in mind.
An
ad
viso
r’s
view
–M
ark
Per
rin
A b
usin
ess o
wn
er’s vie
w -
Do
min
ic Go
od
ale,
Man
aging D
irecto
r at Dan
cor A
cou
stics
“ “ “ “
11
Rule 4
Become a working capital whizz
Keeping a close eye on working capital is an essential skill
for any business owner and the latest banking apps, which
are designed to deliver accurate balance information to your
smartphone, have made this much easier to do. 29% of SME
business owners said that gaining access to this type of
software had improved the efficiency of business
management and accounting systems.
Become a proactive cash manager. Get to know where your working capital lies and import systems and alerts to let you know if cash reserves are running low.
ACTION
29% said access to
software and apps
had improved
efficiency
A business’ cash management strategy may be led by the finance department but all business divisions need to support this drive. In SMEs, collaboration and communication are vital and all parties needs to understand the impact of their actions on working capital. There is also no ‘one size fits all’ approach and so the business needs to not only keep a close eye on its forecasting tool but also have the functionality they can run ‘what if?’ scenarios and see the impact on working capital before key business decisions are made.
I knew we needed to sharpen up our approach to cash management but needed advice on how to go about this. By implementing some checks and balances and tweaking our existing systems, we gained a better understanding of where cash lies and improved our profitability as a result.
An
ad
viso
r’s
view
–P
hil
Wri
ght
A b
usin
ess o
wn
er’s vie
w -
Arran
Atkin
son
, co
-ow
ne
r & d
irecto
r of Fo
rays Ho
me
s
“ “ “ “
12
Rule 5
Have a back-up plan but don’t rely on ‘bank of friends or family’ Putting in place a financial cushion, doesn’t mean going cap in hand to family or friends if the
going gets tough.
While a quarter (26%) of SME owners admit that they have
turned to a relative or friend to help fund the business, this is
rarely a good idea and can lead to rifts affecting personal
relationships.
Having a cushion of cash to fall back on is considered important,
however - two-fifths of business owners (39%), think that having
more capital than needed is essential when starting up a new
business in uncertain times.
26% admitted to asking a
friend or relative to
bail them out
Speak to a trusted advisor and get the right advice. Navigating the alternative finance
market yourself can be challenging. Secure access to a flexible finance facility to help
fund capital expenditure or balance the books in the event of cash-flow difficulties.
ACTION
Alternative finance can provide flexible access to funds to support growing or early-stage businesses. Seek advice about the right finance option.
In the early days, managing cash flow was a problem. I didn’t want to fall at the first hurdle so made sure I had a facility in place to draw upon if needed.
An
ad
viso
r’s
view
–Pa
ul D
avie
s
A b
usin
ess ow
ner’s vie
w
“ “ “ “
13
Rule 6 Consult the experts While focus and single-mindedness are common traits of
entrepreneurs , isolationism doesn’t work. SME owners should
proactively seek out strategic business advisors who understand
where the company is heading and how it intends to get there. Look
for individuals with diverse experience who understand the market
you are operating in and can help you avoid the most common
pitfalls. At times of change, it becomes all the more important to ensure your business vision and
strategy is set on the right course and it will be necessary to keep this under independent review.
Seek out and appoint the right team of business advisors
to support your business as it grows.
ACTION
Professional advice comes in many different forms. If you want to grow your business, it makes sense to use a firm that has the scale and breadth and depth of services to deliver specialist advice in diverse areas – from managing talent and putting in place an efficient and effective management team, to tax planning and establishing international trading links.
Having held a number of board-level positions at entrepreneurial businesses, I always say that growing a young company is a bit like raising a child. If the business needs to acquire new skills, like a child, it must learn from the experts at times. At Bowman Power I have drawn on specialist, advisory support to help with tax planning; organising a compliant HR system and truly understanding the marketplace. If young businesses recognise they have a lot to learn and call in the experts, they can grow much more quickly.
An
ad
viso
r’s
view
–Ed
Hu
ssey
A b
usin
ess o
wn
er’s vie
w -
David
Lamb
, C
hie
f Finan
cial Office
r at Bo
wm
an P
ow
er
“ “ “ “
64%
lack business
support
14
Rule 7 Get the balance right
Achieving the right work-li fe balance is increasingly important for all
business owners and it could make the difference between success and
failure. Time management is the key and these skills can be acquired
relatively easily. Based on our research, SME owners are mostly happy
with their work-life balance – only 10% were unhappy. However, there
were signs that some could be working too hard and 57% said they
sometimes find it difficult to manage the demands of their business and
personal lives. About a third (37%) admitted that they sometimes find it difficult to enjoy their
leisure time because they think they could be doing something for the business.
A sector analysis of the business owners that are struggling to keep their work-life balance under
control reveals that entrepreneurs operating in the technology and business services sectors are
the most likely to report their work li fe balance is out of control . Others in the manufacturing and
hospitality and leisure industries are also struggling with their work -li fe balance.
1 in 10 are unhappy
with work-life
balance
Entrepreneurs can easily fall into the trap of working too hard and losing sight of the reason they went into business in the first place. It is important to keep enjoying what you do and this is likely to mean learning to work smarter, rather than longer – using the people around you; outsourcing where appropriate and making best use of available technology.
I hadn’t realised before taking over the business how much of my leisure time would disappear. Outsourcing certain activities has reduced some of the pressure and I would recommend doing this. I also found that downloading a few recommended apps stopped me from spending too much time entering figures in spreadsheets.
An
ad
viso
r’s
view
–O
liver
Fin
chA
bu
sine
ss ow
ne
r’s view
-C
osta G
iardin
a, D
irecto
r at Tecsid
er Ltd
“ “ “ “
Are you getting the balance right? Make sure you know how you spend your time
– both personal and professional – and look for ways to improve efficiency.
ACTION
15
Rule 8 Get a plan for life
It’s never too early to start planning for your future but are you
doing it in the best way for you and your business?
Where the intention is for the business to continue to provide
an income in retirement, careful thought will need to be given
to succession planning.
Smart business owners understand the need for their personal
plan for life to be aligned with their strategic plan for their business . They should consider the
question ‘what do I need from the business to achieve my personal plan?’
In our research, one in five business owners said they are planning on retiring later than they
originally thought and a quarter (26%) said they had no plans to retire at all . Almost half of those
who were planning to retire later claimed this was no hardship – 49% said they love what they do
and want to continue.
For business owners with families, planning for later life can be a complex matter - particularly if
they want to pay for private schooling or lend a helping hand to grown-up children along the way.
For this reason, wealth management should be considered holistically at an early stage; taking
into account areas like pensions, investments and inheritance tax planning.
Planning for retirement usually means different things to different people but for a business owner manager it requires flexibility, driven by inherent uncertainty. Careful planning and preparation will be needed to realise fair value for the business after potentially decades of ‘blood, toil, tears and sweat.’ Not all businesses are readily saleable and a business owner manager should be mindful to address retirement planning using other vehicles such as pensions, whilst profits allow. Even those business owner managers with no intention of retiring should make a plan in case of ill health, or they simply change their mind. Regardless, all business owner managers will benefit from “starting with the end in mind” and identifying a clear objective upon which to direct strategy. The start of that process is thinking about what you want / need from your retirement and quantifying how much money you are likely to need in order to achieve this. This figure will tell you whether your business will provide sufficient funds to retire when you wish to. If it’s not enough, it will provide a clear financial objective for you to target in the coming years, whether by growing the business or by funding other retirement vehicles. Of course, as with all Financial Planning matters, the earlier you start to plan the better.
Having worked all my life, since the age of 16, I am now planning to retire. It was bred into me at an early age that I should put money away into a pension scheme in the hope that this would provide me with an income in retirement. When you get to this stage of life, however, you find that things are not that straightforward and there are choices to be made – in my opinion, specialist advice is essential. As well as aiming to maintain my lifestyle for as long as possible, I also want to protect what I have built up, so I can pass as much as possible to my daughter when the time comes.
Fin
anci
al p
lan
ner
's v
iew
–B
en S
imp
son
A b
usin
ess o
wn
er’s view -
Ton
y Martin
, M
anagin
g Directo
r at Hu
sho
n U
K Ltd
“
“
“ “
(1) Start with the end in mind (a.k.a. think about when you want to retire and how much money you need to accumulate in order to achieve this). (2) Create a plan and review it annually. (3) Protect the plan (Money held in pensions diversifies investment risk and is usually ring-fenced from creditors if the business falls upon harder times and Insurance can help plug the gap if you or another key person
becomes ill or dies before the objective is realised).
ACTION
49%
of SMEs would work
longer because they
love what they do
16
N e x t s t e p s
Business owners are rewriting the rules of business on a continuous basis and they should continue to do so; keeping their plans and investments under review. The traditional ways of doing business have already been replaced by smart -footed
entrepreneurial thinking that aims to make decisions quickly, outwit the competition and act on
market opportunities as they arise. This Rule Book draws on the best advice available from
today’s entrepreneurs and their advisors to support business owners as they strive to become
better managers of change and realise their business and personal potential .
Based on the new rules of business, here’s a summary of next steps for SME business owners:
RULE QUESTIONS TO ASK YOURSELF
ACTION
Be quick to think and act
Do you feel equipped to make business critical decisions quickly? Do you have business data at your fingertips?
Seek advice about bespoke online systems and use accurate data to guide your business decisions. Ensure manual bottlenecks that may slow your reporting down are dealt with.
You can never have too much knowledge
Market knowledge and commercial acumen is vital, but do you know what your competitors are up to?
Make market mapping part of your regular business management schedule – insights gleaned should be used to inform your business strategy.
Make risk management a priority
Have you conducted a scenario planning to plot for upcoming risks?
Make risk assessment an inherent part of your decision-making and planning processes.
Become a working capital whizz
Do you use any apps or business accounting software to keep a watchful eye on working capital?
Become a proactive cash manager. Get to know where your working capital lies and import systems and alerts to let you know if cash reserves are running low.
Have a back-up plan Have you borrowed money from friends and family to fund the business?
Secure access to a flexible finance facility to help fund capital expenditure or balance the books in the event of cash-flow difficulties.
Consult the experts Do you make important business decisions on your own?
Seek out and appoint the right team of business advisors to support your business as it grows.
Get the balance right
Are you happy with your work-life balance? Do you need more ‘me’ time?
Make sure you know how you spend your time – both personal and professional - and look for ways to improve efficiency.
Get a plan for life Have you considered your future plans? Exit plans? Retirement plans?
Have a plan for funding your working life and your retirement and keep everything under review to ensure your financial position strengthens as your business grows.
17
A b o u t M e n z i e s
BRIGHTER THINKING is how we sum up the difference we make to our clients. It encompasses
our finance and accounting expertise, combined with strategic commercial thinking.
Keeping a watching eye over your business helps us to understand your personal and business
aspirations. We use our in-depth sector knowledge and our consultancy-led approach to
challenge your objectives and find solutions that guide your business growth.
We offer a full range of services – tax, corporate finance, audit & compliance and business
recovery, as well as strategic consultancy, outsourced HR & FD support, franchising and
business valuations.
Services for you and your business
ACCOUNTANCY | FINANCE | BUSINESS
Menzies LLP is a top 20 firm of accountants, finance and business advisors that
operate out of a network of offices across Surrey, Hampshire and London,
providing our clients with easy access and local knowledge. Described as the
‘best performing firm outside of the top 10’ by Accountancy Magazine, Menzies
has over 400 employees and an annual turnover of more than £40m.
An award-winning firm, Menzies won ‘National Firm of the Year’ at the
2016 British Accountancy Awards and ‘Best Tax Team’ at the 2017
Tolley Taxation Awards.
18
C o n t r i b u t o r s
The Entrepreneurs
Arran Atkinson, Co-owner and Director at Forays Homes
John Chasey, Operations Director at TVR Automotive
Costa Giardina, Director at Tecsider Ltd
Dominic Goodale, Managing Director at Dancor Acoustics
David Lamb, Chief Financial Officer at Bowman Power
Tony Martin, Managing Director at Hushon UK Ltd
Andy Theobald, Managing Director at R&W Civil Engineering
The Advisors
Julie Adams, Menzies LLP Senior Partner
+44 (0)1784 497100 | [email protected]
Paul Davies, Menzies Director
+44 (0)207 4651972 | [email protected]
Oliver Finch, Menzies Associate Director
+44 (0)1784 497167 | [email protected]
James Hadfield, Menzies LLP Partner
+44 (0)1489 566280 | [email protected]
Ed Hussey, Menzies Director
+44 (0)1784 497105 | [email protected]
Mark Perrin, Menzies LLP Partner
+44 (0)1489 566702 | [email protected]
Graham Seddon, Menzies LLP Partner
+44 (0)1372 366165 | [email protected]
Ben Simpson, CEO of Menzies Wealth Management
+44 (0)207 3875868 | [email protected]
Phil Wright, Menzies Director
+44 (0)1489 566700 | [email protected]
If you require any further information on any of the issues raised above, please email
