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- Accounting & Finance Expertise
- ACCOUNTING ADVISORY
- Advisory
- Alice Stephenson – Founder & CEO, Stephenson Law
- All News
- ALLSTARS EARLY CAREER PROGRAMMES
- APPRENTICES
- April Bembridge – Chief People Officer, Cooper Parry
- Are You Claiming The Right Amount? Gated
- AUDIT – WHAT OUR CLIENTS SAY
- Audit and Assurance
- AUDIT FOR AIM LISTED COMPANIES
- Award-Winning Know-How. Startup To Scale Up
- Big 6 Pedigree. Rebel Thinking
- Bundle and Pricing Options
- BUSINESS STRUCTURING
- Business Support And Grants
- Business Tax
- Capdesk & CP Futures: Delivering the A round webinar
- CAPITAL ALLOWANCES
- CAPITAL GAINS TAX
- Careers – Our Roles
- Careers Contact Us
- Careers Trainees FAQs
- CF – Webcast – Attractive Deals
- Charities
- CloserStill Pitch Documents
- COCO – CP: A Force For Good Webcast
- COCO – Podcasts and Webinars
- COCO – Podcasts and Webinars – A Bembridge
- COCO – Podcasts and Webinars – Business Resilience
- COCO – Podcasts and Webinars – D Shirley
- COCO – Podcasts and Webinars – P Rogers
- COCO – Sky View Reopening
- COCO – The role of HMRC
- COCO – Your Personal Finances
- COCO – Podcasts and Webinars – Andy P Ben R
- COCO – Podcasts and Webinars – Mark B and Tara W
- COCO- Financial Reporting During This Chaos
- COCO- Financial Support Backed By The Banks
- COCO- Help For Individuals And The Self-Employed
- COCO- Help With Commercial Rates And Business Rates
- COCO- Leading In Uncharted Waters And Looking After Your People
- COCO- Leading In Uncharted Waters And Looking After Your People
- COCO- People. Retaining Your Most Valuable Asset
- COCO- Technology & Remote Working
- COCO- VAT, Customs and International Trade Support
- Construction And Property
- Contact Thank You
- Contact Us
- COOKIE POLICY
- Cooper Parry Book Club
- Cooper Parry Event
- CORPORATE AUDIT
- Corporate Finance
- Corporate Finance – M&A Webinar
- Corporate Finance – What Our Clients Say
- CORPORATE FINANCE DEALS
- Corporate Social Responsibility
- Covid-19
- COVID-19 COLLABORATION
- Covid-19 Collaboration-news
- COVID-19 TASKFORCE
- Covid-19 What it means for you
- COVID-OVERVIEW
- CP Futures
- CP Futures Tech 100
- CP Innovation
- CP INNOVATION – WHAT OUR CLIENTS SAY
- CP INNOVATION FULL PAGE. – DRAFT
- CP Tech 100
- CPERS: COOPER PARRY ENQUIRY RESOLUTION SERVICE
- Creative Tax Reliefs
- DIVERSITY POLICY
- Donna Challinor – Senior R&D Incentives Manager
- Early Career Programmes
- Early Stage To SME- WHAT OUR CLIENTS SAY
- Ecommerce
- Eddie Latham & PJ Scott – Co-founders, Velocity Commerce
- Education
- EMPLOYMENT TAX
- EMPLOYMENT TAXES – MAXIMISING COMPLIANCE AND MINIMISING EMPLOYMENT COSTS
- FAQS
- Financial Compliance
- Financial Reporting
- Find Us
- Flexible ‘Finance Bench’
- Future Events
- Galahad Clark – Founder VivoBarefoot
- Gated Content Landing Page
- Getting Ready For Sale
- Getting Ready For Your First Audit
- GLOBAL TALENT PROGRAMME
- GRADUATES
- Helena Hills – Founder & CEO, TrueStart
- HIGH GROWTH LOW DOWN
- Homepage
- Homepage Old
- Hub CP
- HUB CP – Justin Harling Snippets
- HUB CP – Live Lounge
- HUB CP – Live Lounge Juliet Barratt Snippets
- HUB CP – Live Lounge Velocity Snippets
- HUB CP – Rob Law Trunki Snippets
- Hub CP 3
- HUB CP LEADERSHIP SERIES
- HUB CP LOUNGE – PACT COFFEE
- HUB CP LOUNGE – PAUL SCHAFFER, PLUM PRODUCTS
- Hub CP Podcast
- HUB CP Thank You
- Hugo Tilmouth – Founder & CEO, The Up.co
- In Their Words
- In Their Words Retail
- INDIRECT TAX
- Inheritance Tax
- Intellectual Property & Patent Box
- INTERNATIONAL TAX
- Investment Calculator UK
- James Hyde – Founder & CEO, James and James
- Jay Richards & Cat Agostinho – Co-Founders, Imagen
- Justin Harling – CEO, CAE Technology Services
- LANDLORD
- LEGAL STUFF
- Let’s Stop Calling It R&D V2 Gated
- Life at cooper parry
- Lounge Underwear Webcast
- MAKING TAX DIGITAL
- Management Information and Reporting
- MANAGING AGENTS
- Manufacturing Tax and Advisory
- Marketing Thank You
- Merry Christmas!
- MID MARKET – WHAT OUR CLIENTS SAY
- Mid-Market
- Month and year end support
- New Homepage
- New Hub CP
- New Hub CP Live Lounge
- Newsletter Form
- Newsletter Thank You
- NFP – Video – Nick Simkins
- NFP – Webcast – Bhavesh Patel
- NFP – Webcast – Sarah Chambers
- NFP Webcasts And More
- Not For Profit Audit
- Operational Systems & Technology
- Our People
- Meet the Team
- Meet the Team Retail
- Our People – Big Business
- Our People – Business Tax
- Our People – Capital Allowances
- Our People – Corporate Finance
- Our People – CP Innovation
- Our People – Facilities & Wellbeing
- Our People – Leadership
- Our People – Marketing
- Our People – New Business Relationships
- Our People – Not for Profit
- Our People – Outsourcing
- Our People – Pensions
- Our People – Personal Tax
- Our People – Service Charge
- Our People – Tech & High Growth
- Our People – Transaction Services
- Our People – Transaction Tax
- Our People – VAT
- Our People – Wealth
- Our People Audit
- Our People Team
- Our Why And Values
- Outsourced Business Services
- Outsourcing
- OVERSEAS EXPANSION
- Past Events
- Paul Richardson – Executive Chairman, Gymshark
- Paul Turton – CEO, Pact Coffee
- PENSIONS AUDIT
- Personal Tax
- Personal Tax Compliance
- Personal Tax: Articles And Plenty of FAQs
- PLACEMENT ROLES
- PLACEMENTS
- Preference Centre
- PRIVACY POLICY
- Private Equity Advisory
- PROPERTY AND LANDLORDS
- R&D Capital Allowances
- R&D Gated Form
- R&D Newsletter Thank You
- R&D Tax Credits Questionnaire: Are you eligible?
- Raise investment or debt
- Raising Finance
- Read All About It
- Rebelution 2
- Rebelution 2 Top Tips – Cooper Parry Corporate Finance
- Rebelution 2 Top Tips – Cooper Parry IT
- Rebelution 2 Top Tips – Cooper Parry Wealth
- Rebelution 2 Top Tips – CP Futures
- Rebelution 2 Top Tips – VAT & Brexit
- Research & Development Tax Credits
- Research And Development Tax Credits
- RESIDENCE & DOMICILE ADVICE
- Retail
- Retail Advisory
- Retail Rocks 2021 Content
- Retail Tax
- Rob Law MBE – Founder, Trunki
- Scale Up & High Growth
- SECURITY POLICY
- Service Charge
- Service Page Form
- Service Test
- SETTING UP BUSINESS IN THE UK
- SHARE INCENTIVES AND REWARD
- SHAREHOLDER TAX ADVICE
- Shaun Doak – CEO, React Group Plc
- Small Business
- SNAPSHOT
- Strategy & Culture Outsourcing
- Succession Planning
- SUSTAINABILITY
- Tax – What our clients say
- TAX COMPLIANCE SERVICES
- Tax Services
- TAX SETTLEMENTS AND INVESTIGATIONS
- Teams How To Guides
- Teams How To Guides Answers
- Tech & High Growth
- Tech & High Growth – What our clients say
- Tech & High Growth – Connected to the Eco System
- TEN STAGES TO INVESTMENT
- TEN STAGES TO SALE
- Test Form
- Test2
- The Process. Tried. Tested. True
- This Is Us
- Tom and Tina Warner – Co-Founders, Warner’s Distillery
- Transaction Deals
- Transaction Services
- Transaction Services – What Our Clients Say
- TRANSACTION TAX
- TRANSFER PRICING
- Trusts and Estates
- UK support for International groups
- VAT SERVICES
- Virtual Bookkeeping
- Virtual FD
- We Get You. A High Growth Mindset To Match Yours
- Wealth
- Wealth- What Our Clients Say
- Website How To Guide
- Well being
- Well-Connected. Well-Versed
- What our clients say
- WORK EXPERIENCE
- XCP Sign Up
- Your Development
- Your Say
- Your Say Contact Us
Running a business is a juggling act, and with so many to-dos up in the air at one time, it can be tricky knowing which one to pluck out the sky first.
With more than 20 years’ experience supporting ambitious, growing, entrepreneurial businesses, our Head of Outsource Business Services Gary Rouse knows a thing (or ten) about the questions you should be asking to set yourself up for success.
Check them out below:
10 QUESTIONS TO PUT YOUR BUSINESS TO THE TEST
1) How is your business dealing with the current economic environment?
In the current economic environment with soaring energy costs, inflation, and interest rate hikes, how is your business coping?
What impact is it having on the business? How close are you to your numbers? Have you stressed tested your numbers, so you can plan for various scenarios? Have you a have robust strategy in light of the challenges going forward?
2) Can your finance function operate at full capacity remotely?
More than ever, your business has to be able to operate remotely. It’s really important to ensure you are getting the right financial information quickly and efficiently, wherever you are, so that you can make informed business decisions. So, if you aren’t working remotely at full capacity, you need to review your finance function and ensure it’s working more efficiently.
3) Are you running multiple systems across your business that don’t talk to each other? Do you still carry out manual tasks as part of your systems?
If the answer is “yes” to either, then you may not be running your business as efficiently as you could be. Technology is playing a massive part in changing how every business is run, and fully integrated, automated systems can make a huge difference.
4) Are you preparing cashflow forecasts to help make key business decisions?
The last few years have shown us how important cash is to running your business. Understanding the ebbs & flows of your future cash cycle has become even more vital. This means you need to ensure your finance function can quickly provide you with the information you need to understand this future cash cycle and what additional support you may need to maximise your opportunities.
5) Would more cash be helpful to the business, especially in the current environment?
R&D tax incentives claims can pay back up to 33.35% of qualifying spend – and the ‘bar’ to qualify for this generous relief is often much lower than you’d think. It pays to ensure these are being considered fully and properly, claiming all that you’re due, without falling foul of HMRC’s enquiring eye.
The Cooper Parry CP Innovation team works with companies throughout the business lifecycle. Helping them accessing grants, business support from universities, R&D incentives, patents and patent box relief.
6) Do you need support from an adviser that can work with you to help drive your business forward?
Have you done this before? Do you need help in reducing costs? Do you need challenging – or a second opinion on how to ensure you have the right strategy? Do you want to ensure your senior team are aligned in your strategic thinking? Do you want help in raising finance?
You need to ensure you are working with the right business adviser that can help you deliver all of this, so take the time to weigh up your options and choose the right one. Then, you can focus on your strengths: growing the business
7) How do you ensure your team really can help you grow the business?
Whether it’s providing clarity on your vision and strategy, empathising with employees’ personal challenges, having a great environment to work in or providing incentives; having a truly engaged team has never been more important. Creating and building the right culture and having that at the forefront of everything you do is fundamental to ensuring your business is really working as one team.
8) Are you rewarding your key staff in a tax-efficient way?
During these challenging times, we’re seeing a number of businesses restructuring or considering changes to key employee remuneration. If not managed correctly, this can lead to a fall in employee engagement and retention just at a time when you need key staff to help ensure the business is on the right path. As such, a number of businesses are looking at ways to overcome these challenges. An employee share scheme is one example you can use as a cost-effective way to ensure you retain and motivate key staff.
9) Have you thought about the tax impact of your overseas presence?
The world is more connected than ever, and a growing business can very quickly find that it is trading in multi-jurisdictions, dealing with the tax complexities that can flow from this. Spending time to ensure the business is compliant, whilst considering a structure that allows for tax-efficient cross-border trading, will ensure that the business’s cash tax position is carefully managed. This should allow for tax optimisation and, in some cases, tax cash through local tax reliefs such as R&D. A short-term focus could yield long-term tax efficiencies.
10) Are you considering selling your business in the next couple of years?
If you are, then you should be considering now what you need to do to maximise your exit value. Reviewing your systems and finance function to ensure it’s working super efficiently, is ready for the exit, and can provide accurate financial data quickly will give potential buyers much more confidence and help ensure they don’t try to chip your exit value. You should also consider early if there are any pre-sale tax planning opportunities to help maximise post tax returns particularly with likely tax increases just round the corner.

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