30 corporate finance roundup


Meridian – supporting Solent maritime activity


’Given its strong maritime history, the south coast has long been a centre for marine innovation, so it should come as no surprise to know that there are three times as many marine businesses in the Solent region as in the rest of the UK,’ says Joe Jeffers, partner at Meridian Corporate Finance


With the Solent LEP estimating that the marine and maritime sectors support over 3,000 businesses and 60,000 jobs in the Solent area, cutting-edge projects such as the Ben Ainslie Racing (BAR) team have further raised the profile of the marine industry which continues to attract new private-equity investment and central government support aimed at further inward investment to the Solent marine and related sectors.


In advance of the recent Southampton Boat Show, Meridian took the opportunity to host a marine-focused dinner at Hotel Terravina for business leaders in the Solent region. The keynote speech was provided by Andy Hindley, CFO & COO of BAR, who provided a fascinating account of the bid for the 2017 America’s Cup and further details around their stunning new headquarters under construction at The Camber, in the very heart of Portsmouth’s historic dockyards.


Mike Barcia, managing partner at Meridian, said of the event: “It was an absolute privilege to host this dinner for such high- calibre business leaders within the marine world. We at Meridian feel that sector-focused events are particularly important as they provide perfect opportunities to make new contacts, and establish and maintain new and existing client relationships across the region.“


Meridian has been involved in a number of leading maritime- related transactions, advising a wide variety of businesses in the maritime space including manufacturing, marine safety, transport and logistics and design. Specific experience in the sector has


www.businessmag.co.uk Joe Jeffers


also given the firm exposure to CEOs of international maritime and oil and gas businesses ensuring Meridian is well placed to advise local businesses on their strategic options.


Jeffers concluded: “Given our indepth understanding of the maritime sector, the transactions that we have been involved in and our network, we are increasingly seen as the go-to advisers for any business owner looking to raise finance or discuss their strategic options in this fast-changing industry.“


Meridian is the leading corporate finance advisory firm on the south coast and won The Business Magazine’s Solent Deals Awards’ Corporate Finance Team of the Year award in both 2014 and 2013.


Details: Joe Jeffers 0844-225-8800 joe.jeffers@meridiancf.com


How counting the cash gap can save your business from insolvency


When a business becomes insolvent it’s a painstaking process as well as an emotional time for the business owner and staff involved. But why does this happen and what can you do to avoid it? Keith Stephens, head of restructure and recovery at top 20 UK accountancy firm Wilkins Kennedy LLP, explains


Tough trading conditions is one reason and undoubtedly true of the recent years of recession. Insufficient sales leave businesses unable to generate cash to pay creditors, including the tax man, employees or landlords, which means they cannot replenish stock or meet loan obligations.


Cut-throat discounting also has a part to play. Despite an economic improvement, consumers in both a business and a domestic environment remain cost conscious when it comes to spending their hard-earned disposable income.


So, how do you protect yourself and continue to trade profitably, meet obligations as they fall due and generate cash for future investment in stock, employees and capital expenditure?


1 Develop robust profit and loss, balance sheet and most importantly cashflow forecasts.


2 Ensure your budgets identify gaps in funding – in particular for a seasonal business there will be fallow months – have you got sufficient resource to close the cash gap?


3 Keep close to your bankers, shareholders and suppliers – can you seek additional working capital, have you the opportunity to sell off non-performing assets, is there scope to obtain creditor payment stretch with your suppliers, for example?


4 Work closely with your accountant. We love running the numbers and will challenge assumptions and create budget flex. We can work together with you to create strategies to close the cash gap.


With the possibility of a rise in UK interest rates thereby pushing up the cost of borrowing and indeed the ability to both service and


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – DECEMBER 14/JANUARY 15


repay loans, having an existing cash gap strategy becomes even more key than ever before.


It helps to recognise the signs of insolvency early, so look out for key indicators such as:


• Is the overdraft always at its limit?


• How is cashflow? If it is tight, paying suppliers can be difficult.


• Are company creditor and debtor days growing?


• Does your company have unsatisfied County Court Judgements (CCJs) registered against it?


If you recognise any of these signs at your company, then assistance from experts in restructure and recovery may be worth investigating.


At Wilkins Kennedy, we have just announced the launch of a fully comprehensive restructure and recovery service, which covers the whole of the southern region of the UK. The offering comes following significant growth within our firm, with WK merging with CW Fellowes in 2013, enabling us to open up offices in Portsmouth and Southampton and a variety of new services to the region.


Spotting the signs of insolvency early is key to thriving or surviving. So, ask yourself – has your business got a cash gap and how do we ensure it is closed off?


Details: Adam Wilson, managing partner 023-8024-7070 adam.wilson@wilkinskennedy.com www.wilkinskennedy.com


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