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Albert Goodman launches first rate Corporate Finance service for small businesses
Leading South West accountancy firm, Albert Goodman, has become one of the only firms across the South West to offer a comprehensive corporate finance service to companies with a turnover between £500,000 and £5,000,000.
The firm’s membership of the CFN supplements Albert Goodman’s top level corporate finance expertise. The benefits of being part of the CFN include access to research, products and support that was previously only available to large national organisations.
Albert Goodman Corporate Finance’s leading specialism is raising finance for small and medium sized businesses – an area that has suffered considerable stagnation due to the recent economic climate. In turn, many SMEs have suffered from cash flow problems or have been unable to secure funds for acquisitions, disposals or diversification.
As well as the benefits of membership of the CFN, Albert Goodman has a number of additional and unique resources available, including the Exit Club – where SME owners/directors, who are considering their exit options, can obtain well thought-out, joined-up advice from professionals operating across several disciplines simultaneously, resulting in quicker deal completion and minimised costs – and The Corporate Finance Hub, a network of corporate finance professionals, investors and owners of acquisitive companies. At regular events, guest presenters talk about topical issues and guests meet with likeminded professionals and business owners to generate business.
Tracey Williams, Corporate Finance Partner at Albert Goodman, comments, “Over 60,000 businesses were wound up last year, rather than being sold. We think this is a tragedy. Most of these businesses are well-run, profitable, family or owner operated small businesses. This loss of commercial activity is due to many reasons, but commonly includes an inability to find a buyer, an inability to raise finance and investment, or a management team without the skills to take over the business.
“Our aim is to drive deal creation, enabling small businesses to continue where previously they have ceased trading. Through our membership of the CFN, and delivered by a dedicated and qualified team, we offer an unrivalled level of resource to service corporate finance activity in this sector across the South West. We now have access to an enlarged network of potential buyers and investors as well as leading industry research, funding databases and sharing of best practice.
“Recent research shows that there are 4.5million private sector businesses in the UK and SMEs make up 99.9 per cent – 3 per cent of those businesses are in the Somerset and Bristol area. Interestingly, amongst these smaller businesses there were 56 deals completed in this region last year, which is only 1.1 per cent of the total deals market. Statistically this regional figure should be closer to 3 per cent of the total number of deals done in the UK. This is what we are hoping to rectify by joining forces with the Corporate Finance Network – to get business in this region moving again and to help drive deal creation.”
The Corporate Finance Network consists of 22 carefully selected accountancy firms and business advisors from across the UK who provide small and medium sized enterprises (SMEs) and owner managed businesses with the most complete and practical business advice that is available anywhere in the country.
Albert Goodman has offices across the region including Taunton, Chard, Yeovil, Bridgwater, Weston-super-