FD PARTNERSHIP NEWSLETTERS
WELCOME TO THE FIRST EDITION OF FD COMMENT, THE NEW NAME FOR WHAT WAS PREVIOUSLY CALLED FD PARTNERSHIP. THE REASON FOR CHANGING THE NAME WAS TO REFLECT MORE ACCURATELY THE NATURE OF OUR INVOLVEMENT WITH ACCOUNTANCY FIRMS AND SMES.
Trading conditions remain challenging for most firms although company formation demand remains robust, suggesting that many incorporations are not adding true value to the economy but are a diversion of existing resources, such as redundant workers striking out on their own.
As families continue to reign in their spending the only glimmer of hope on the horizon is the traditional Christmas shopping but I reckon that the High Street names are going to be working to much thinner margins and many stockings aren’t quite going to bulge as they did in recent years.
FD makes life easier for accountants - Now you can register for VAT and CT when forming a company with FD. This is in addition to registering domain names simultaneously. At FD we believe in assisting accountants with their value added proposal for their clients.
The choice of professionals and business...
a quality partnership
Banking Survey Results
Formations Direct recently surveyed SME on bank lending, with the following results suggesting on opportunity for a new SMEs bank to start-up and grab a chunk of business by providing a decent service with fair rates of interest. An expectations gap looms large and as long as there is a perception that service is poor, decision making opaque and rates are unfair banks will struggle to win over SMEs.The only surprise to come out of this was that the numbers requiring their house as security wasn’t higher.
70% of those refused at the initial stage expressed surprise at the decision
64% found the whole process difficult
62% achieved an early outline approval
58% received their loan within 3 weeks of applying
69% of those rejected after formal application expressed surprise at the refusal
54% did not require to put up their house as security
70% of formal submissions were approved
57% said the terms & conditions were exactly as those initially discussed
49% felt that the rate of interest was fair
Practice growth webinar
Following our seminal webinar on practice growth we have seen steady interest in this area of advising accountancy practices. Visit our new web pages www.formationsdirect.com/accountancypracticegrowth.aspx to learn more or call us on 0161 798 9999 for a no-obligation chat that could take your practice to the next level.
Following our successful practice sales seminar we’re planning another one before the year end on the topic of succession planning for accountancy practices.
Far too many accountants fail to fully realise how much intrinsic value their practice has and when they come to sell they have not done enough to maximise it. Instead of fretting about what will happen in the event of a forced retirement or death they should be concentrating on getting their asset “shipshape”.
If selling your practice wasn’t a big enough matter itself, getting it into shape to make it marketable is something that comes as a shock to many practitioners when they find potential buyers turning up their noses and retracing their steps as soon as they walk through the door without even opening the books.We’ll keep you posted but if you want to pre-register or discuss your requirements please email [email protected] or call 0161 798 9999.
Recent winners in our week
£100 prize draw include :-
G JONES & CO