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Greetings!
Welcome to the latest Orchard Newsletter. In this edition four topics of the moment;
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| 1. Orchard Growth alerts growth businesses to predicted change in R&D tax credit allowance, following tightening up at HMRC
Orchard Growth, providers of flexible finance directors to growth companies, has warned companies in its care to ensure that they are prepared for a predicted change to the tax relief allowance provided for research and development. As many of the growth companies served by Orchard Growth's part-time FDs are involved in technology, any change to the R&D tax relief boundaries could have a significant impact. Click here to read 2. The increased role of financial directors in strategic planning
In a recent survey of more than 450 Chief Financial Officers from around the world, the Association of Chartered Certified Accountants (ACCA) reported that 72 per cent of survey respondents agreed that finance now works more closely with business units in strategic planning than before the credit crunch. Furthermore, two thirds agreed that the CFO has more involvement in the creation of a medium and long term corporate strategy. Orchard Growth Partners confirms this observation following a review of feedback from finance directors working for the company. Click here to read.
3. The gain after the pain
Green shoots seem to be sprouting with increasing regularity, even though we are approaching the autumn, as the stock market continues to regain ground, economic indicators start to look positive, growth is seen in neighbouring economies and M&A activity seems to be rising. However there remain some very dark clouds on the horizon, not least the range of tax increases due over the coming months, rising unemployment and likely cuts in government spending. Nevertheless many businesses are looking to grow again, itching to get their businesses moving forward after almost a year of economic slowdown, but even that can be fraught with danger as historically more businesses tend to go bust coming out of recession that during one.
4. The inside view on insider trading
I usually write this monthly column about a topic that everyone in the City is talking about. This month I'm writing about something very few people are talking about, precisely because few people are talking about it. In fact not only are people not talking about it but I was advised by one of my contacts, a corporate finance director,that I shouldn't even write about this subject. Click here to read.
5. And finally Cyril........
In tribute to Cyril Trevellian Fletcher 1913-2005 - We salute you.
In these challenging times, businesses need all the support they can get, and that's presumably why the Prime Minister appointed Sir Alan Sugar (now Lord Sugar of Clapton) as his business "tsar". I suspect also that Lord Sugar is the kind of person you want in your tent pointing outwards (if you know what I mean) rather than outside your tent pointing inwards.
So it must be a shock for the Prime Minister to find that Lord Sugar despite being in the tent is still pointing inwards. How else can you explain his recent behaviour in saying that many companies don't deserve bank lending and are "moaners" living in "Disney World", or his exasperation at being asked about how regions in the UK get out of recession. Watch it here.
There's talk of Lord Sugar deciding to step down from the role. Frankly, we'd prefer he was fired before he has the chance to resign.
Until next time!
The Orchard Team
Orchard Growth Partners Limited.
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