- "In the last 20 years our business has changed considerably…and as the focus of our business has changed, Bird Luckin have moved with us."
Alex Tanner, George Tanner (Shalford) Ltd - "Bird Luckin has looked after us incredibly well for over 60 years, they are pro-active and innovational - meeting all our needs to help us achieve our aims."
Richard Stubbings, Cliffords Limited - "I can honestly say that Bird Luckin are the best firm of accountants and auditors I have ever dealt with - and I don't say that lightly!"
Colin Webb, Walthamstow Stadium - "It's important for us to know that we will always be able to contact the right people to give us the right advice and support."
Jane Bennett, Bennetts Funeral Directors - "Although we deal mainly with one Partner … we also know that if we need to contact someone else who is a specialist in another area, we can get the advice we need quickly and easily"
Jeremy Ruggles, J.S. Wright & Sons Ltd - "Bird Luckin got us to a stage which would have taken us months - if not years - to reach on our own, and they got us there in a matter of weeks"
Matthew Sullivan, SNC Ltd - "You can be a good accountant, but if you don't have an understanding of the industry it can be very difficult. "There are two or three people we have regular contact with at Bird Luckin who know our business well, and it makes a difference.""
Robert Church, W A Church (Bures) Ltd - "The work which Bird Luckin has done for Boddingtons over the past few months has helped shape our future direction for the better."
John Warner, Chief Executive, Boddingtons Ltd - "Bird Luckin has acted for us since our inception 10 years ago. They have a very 'can do' yet highly professional attitude - we are very appreciative of their support and advice over the years."
Marlon Fox, Outlook Property Ltd
How not to succeed in business
As advisers to the business community for many years, we are in a unique position to see the various pitfalls businesses encounter at different stages of their cycle - and how many of them occur with depressing regularity.
Some of the more common mistakes we have to deal with include:
- Poor financial planning - especially under-capitalisation in cyclical businesses, taking out expensive high-interest loans, and withdrawing cash that in reality belongs to creditors or the tax authorities
- General failure to manage debt and cashflow
- Poor tax planning leading to unnecessary tax bills
- Inadequate knowledge of the market - especially the needs and wishes of customers and emerging market trends
- Insufficient awareness of competitors' strategies
- Lack of long-term planning when it comes to entering new markets and exiting existing ones
- Taking decisions based on wishful thinking rather than verifiable research
- Getting bogged down in overheads - using funds to purchase property and/or equipment instead of renting or leasing and using the money to earn money
- Failure to recruit or retain good staff - especially at management level
- Lack of management skills - especially when it comes to motivating and managing people, and delegating tasks to others
- An unwillingness to dedicate the necessary hours to keeping the business going
- Inadequate knowledge of and failure to comply with key legislation, regulations, etc.
- Inadequate record keeping
- Trying to save money by scrimping on professional advice
Sometimes these difficulties can be overcome, sometimes they prove terminal - but in almost every case they can be avoided if professional advice is sought in time. This is why we recommend our clients to come in for regular business reviews.
If you have not had a review recently, contact us to arrange one today.