Running your own business can be extremely rewarding, but it is not without its challenges. You may find that you are trying to juggle numerous different demands at once, leaving you little to focus on growing your business.
In this situation, it is always useful to have experts on board when it comes to the finer points of running your business. This is where Lamont Pridmore can help.
As a national and regional award-winning, family run practice firmly rooted in Cumbria, we understand the difficulties faced by owner-managed businesses across the county and beyond.
Our award-winning services include:
Strategic plan – vision, aims, hopes and aspirations
Creating a clear strategic direction for the business, including organisational structure, products and services, quality, customer care programme, skills and experience of staff, marketing and sales plans, plus innovation and new product/service strategy.
We can help you test the viability of your project, secure funding to get it off the ground or expand it, or just formulate a clear business plan for the future.
Finance director service
For businesses unable to justify a full-time finance director or with a time-specific need, this cost-effective, outsourced solution ensures important financial duties are taken care of, including monthly management information, updating key performance indicators or developing the dashboard to regularly monitor performance.
Growing your business
Our recently published book, 57 Ways to Grow Your Business, sets out some of our tried and tested methods to help businesses grow and succeed. Learning from others who have travelled this path is an essential part of growing a successful business.
Finance for your business
We can help businesses access the finance they need, whether from banks or alternative funding sources, including commercial mortgages, invoice or asset financing, grant funding, peer-to-peer lending and business angels.
Protecting yourself, your family and your business
What will happen to you, your family or your business if you are unexpectedly unable to work? We can advise on life assurance, critical illness cover, income protection, key person insurance, long-term care, and corporate and partnership life assurance, helping you arrange this protection as tax-efficiently as possible.
Tax saving and tax planning
Tax payments are naturally linked to profitability. However, with careful planning at critical stages of the business cycle, we can help businesses make considerable savings. In some cases, we are able to reduce a client’s tax liability to nil.
Profit and performance review including a benchmarking report
We have considerable experience in helping businesses boost profitability and performance. Our proactive approach considers your current situation and benchmarks your performance against others in your sector, creating key performance indicators to drive the business forward.
Pricing review, profit margins and competitor analysis
Knowing how your competitors are doing is integral to your own performance. Our annual competitor analysis and pricing review can help you increase profits while remaining competitive in your markets.
Marketing strategy and marketing plans
Behind every successful company is an effective marketing strategy. We can help you draw up a marketing strategy together with detailed marketing plans based on your goals and aspirations. This is then continually reviewed as your business grows and circumstances change.
Credit control and working capital management
Keeping a close eye on the money coming in and out of your business is essential in order to maintain a healthy cash flow. We can review your credit control procedures to ensure they are as robust as possible, and advise on ways to manage work turnaround times, stockholding, debtor days, creditor days and help you understand your cash flow cycle.
Training and skills development
Our in-house HR director can help with your business’s training needs and assist with skills development, leading to noticeable improvements in motivation, efficiency and productivity.
Cost reduction service
We can help your business make significant cost savings in areas such as utility bills, telephone, mobile phones, internet, insurance, finance, leasing, paper and ink cartridges, transport and courier services, cleaning and waste management, leading to increased profits. Please ask us for a free report.
Asset and wealth management
Whatever your long-term goals, we can help ensure your financial solutions, protection, pensions and investments continue working for you throughout your lifetime.
We can help you plan for a comfortable retirement in the most tax-efficient way, including reviewing your pensions, savings, investments and exit strategy throughout your lifetime to ensure they continue to meet your future requirements. A detailed recruitment and succession strategy is also an essential part of every successful business.
We can help you put a succession plan in place to ensure your business stays in safe hands on retirement. We also specialise in family businesses and can support you through the succession process, particularly if this involves family members.
Grooming your business for sale
You can maximise the value of your business by making it as attractive as possible to potential buyers. As well as valuing your business, we can also identify potential new growth opportunities, ensure all records are up to date and tie up any loose ends, plan ahead to minimise future tax liabilities and identify any further investments that you could make ahead of a sale to boost its value.
Wills, inheritance tax and estate planning
No one wants to think about what will happen when they die, but planning ahead is the best way to ensure that your loved ones are adequately provided for when you are no longer here. Our wills, inheritance tax and estate planning service ensures that you decide how your affairs will be managed, in the most tax-efficient way possible. We can also significantly reduce your inheritance tax liability through lifetime giving and appropriate planning which may include trusts and whole of life cover in trust for the future generation.
To find out how Lamont Pridmore can help you, please contact us.