Dedicated technology sector support
Many of our technology clients are companies in the early stages of growth, operating in biotechnology, life sciences, software, engineering, electronics, telecoms and related fields.
Technology companies have specific needs that typically follow a familiar cycle from start-up through early stage funding to maturity. In the early stages the focus is on getting the company established. Later, when funding for expansion is required, there is often a surge of financial management activity. As the company evolves and becomes more self-sufficient, it may require less day-to-day input but more strategic business planning support.
It is a cycle we understand extremely well. The importance of firm foundations cannot be overstated for any new business, especially for companies looking to global markets for growth. To maximise your scope to exploit market opportunities and avoid problems accumulating later, it always pays to establish the right financial model from the outset.
To cater for this changing business environment, most technology clients need:
- A high-quality personalised service
- Flexibility to bolt-on or reduce services as required
- Consistent support from an advisor with the practical expertise and versatility to help you respond to a wide range of business and financial challenges
- A competitive, cost-effective service.
Typical challenges technology clients may face in their early stages include:
- Failure to achieve the correct shareholding structures
- Inappropriate share structures that prejudice available tax reliefs
- Inability of company founders to operate effectively
- A mismatch between founders' effort and their shareholdings
- Insufficient initial funding
- Poor benchmarking
- Lack of knowledge and experience of the UK venture capital market
- Products that are not sufficiently market-focused
- Poor management information.
How we can help
In addition to general business and accounting support, we can offer targeted help at different stages of the finance cycle.
- Business plan development including financials and forecasting
- Company incorporation and compliance, including registration with relevant authorities
- Growth strategy guidance
- Advice on dealing with potential investors and share structures
- Auditing grant expenditure.
Post-first round funding
- Company secretarial support
- Implementation of accounting systems
- Advice and implementation of management incentives and remuneration packages
- Dealing with ongoing grant award audits
- Advice on R&D tax credit claims
- Payroll services
- Preparation of management reports for board meetings and shareholders
- Updating forecasts
- Guidance on second-round funding
- Preparation of statutory accounts and corporation tax returns
- Company accounts audit.
Post-second round funding
- Preparation of statutory accounts, corporation tax returns and possibly audit
- Tax guidance
- Recruitment of financial personnel
- Company accounts audit.
For more on the general business support we can offer, please refer to our Business Services section.