In my experience, this APA member firm has a comprehensive understanding of the position of individuals who are owner/managers of family businesses. Consequently, they have assisted far beyond the day-to-day business activities and helped in a variety of key areas such as tax planning, pensions, and strategic planning for the business.

I like the close, professional working relationship with individuals at this APA Member Firm. It reassures me that they fully understand my circumstances and aspirations. Their avoidance of jargon is also refreshing and again makes for better communication and understanding.

 

Public Policy Work

APA member firms work with over 14,000 owner managed businesses from SMEs to those looking to float on the AIM market.  We are committed to representing the views of our clients who drive jobs and growth across the real economy.

As well as making regular submissions to Government and Parliamentary enquiries we also regularly survey owner managed businesses to be able to present their views to policy makers.

IMPACT OF COVID-19 ON UK OWNER MANAGED BUSINESSES

Research we carried out among more than 1000 of these entities between the 15th and 23rd April 2020 suggests that the next 12 weeks will be critical to the survival of many.  In particular:

  • One third has seen turnover reduced by 70% or over since the lockdown
  • Nearly half have seen turnover reduced by 50%
  • 60% have less than 12 weeks cash in the bank
  • 40% have less than 8 weeks cash in the bank
  • A majority of businesses have used the Government’s Job Retention Scheme of whom 89% regard it as ‘critical’ to their ability to keep staff.
  • Only 16% of respondent have applied for funding under CBILS of whom two-thirds said the scheme needed to work better. We conclude from this that others may have applied had it been communicated / implemented more effectively by lenders.

Many of the businesses we help were thriving going concerns until Covid-19 struck. They will also be vital to kickstarting the economy once the immediate crisis has passed.  That is why it is vital Government provides evidenced based support where it is most needed.

You can read the full research report here:

The impact of the Coronavirus on owner managed businesses an APA client survey

Covid-19 and business recovery- A research report from the Association of Practicing Accountants

 

RECENT MEDIA COVERAGE

https://www.ft.com/content/e4ec42a1-d789-4c59-b27a-3a3a20433a02

https://www.bradfordmeansbusiness.com/cash-flow-for-businesses-reaches-critical-level/

https://www.icaew.com/insights/viewpoints-on-the-news/2020/may-2020/accountants-warn-of-sme-cashflow-cliff-edge

https://www.ft.com/content/472ad4f4-0a38-11ea-bb52-34c8d9dc6d84

https://www.accountancyage.com/2019/07/24/making-the-case-for-shared-audit/

https://www.ft.com/content/28a9a9a4-054a-11e9-9d01-cd4d49afbbe3

RECENT REPRESENTATIONS SUBMISSIONS

APA submission to the Brydon Review

APA to evidence to Government on the CMA Recommendations

APA submission to the BEIS Select Committee on the future of audit

APA 2019 Client Survey

APA submission to the CMA Audit Market Study

POLICY PAPERS

APA Briefing Note – Entertainment leisure and retail_

APA values

All the members of our association share a commitment to this common set of values:

  • We recognise that every client is unique, with their own needs and demands
  • We clearly understand how entrepreneurs think and work
  • We're committed to providing excellent value for money
  • We believe in the close, personal, active involvement of partners
  • We make life easier for financiers and clients
  • We believe that the quality of people counts
  • We provide the same level of service and attention to detail throughout our overseas network