https://www.insidermedia.com/insider/midlands/bgf-in-10m-healthcare-firm-investment
Secantor CEO Nigel Bacon helps BGF with a development capital investment into CHS Healthcare. The broad range of experience and sector experience puts us in an ideal place to help both BGF Growth and BGF Ventures and we look forward to assisting on further transactions.
Nigel Bacon
Secantor CEO
www.secantor.co.uk
Secantor
Showing posts with label SME. Show all posts
Showing posts with label SME. Show all posts
Thursday, 22 February 2018
Sunday, 16 April 2017
Secantor Goes Regional
At Secantor we have always valued the benefit of being embedded in the local professional an banking community.
www.secantor.co.uk now represents finance support (part - time FD) within Wales and the Midlands, whilst connected with other Secantor regions to provide the added benefit of a wide base of knowledge to deliver the very best for our clients.
In the Midlands and Wales the business is led by Nigel Bacon https://www.linkedin.com/in/nigel-bacon-3b6865b/ who has many years professional and business experience to support SMEs with a team of qualified accountants and also supported with HR and Health and Safety expertise.
See our client testimonials on youtube https://www.youtube.com/watch?v=8DIm8jKdfU4
Nigel Bacon
CEO Secantor
www.secantor.co.uk
www.secantor.co.uk now represents finance support (part - time FD) within Wales and the Midlands, whilst connected with other Secantor regions to provide the added benefit of a wide base of knowledge to deliver the very best for our clients.
In the Midlands and Wales the business is led by Nigel Bacon https://www.linkedin.com/in/nigel-bacon-3b6865b/ who has many years professional and business experience to support SMEs with a team of qualified accountants and also supported with HR and Health and Safety expertise.
See our client testimonials on youtube https://www.youtube.com/watch?v=8DIm8jKdfU4
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Wednesday, 10 December 2014
Valuing People Businesses and Adding Value to People Businesses.
I think it is fair to say that we are experts at valuing and operating people businesses. That is partly because we are a people business, and secondly, because all of our people have significant business experience, which we share with each other for the benefit of our clients.
Of course, all businesses are, to a greater, or lesser extent, people businesses. These days what used to be "pure play" people businesses can be enhanced through the use of technology, and indeed that is what we have done in our own business. So the value of our business not only lies in the great people that we have, but how we harness and magnify our people's efforts through the use of technology. In that way, we add real value for our clients which is something which others struggle to replicate.
In valuing people businesses the size of business is often a factor. The reason is not so much about growth for growth's sake, if we remember the adage "turnover is vanity, profit is sanity and cash is reality", it is more about dependencies. For instance, I have spent a large part of my career buying recruitment companies and marketing services companies, both of which are highly people dependent. A feature of both of those sectors of the market for smaller businesses is both customer concentration and a dependency on key individuals within the business, which increases the risks for a purchaser. The individuals are usually the owner managers themselves who are often the driving force behind the business. How do new owners ensure that the traction that has been created by that owner manager endures into the future? We have a number of models around acquiring people businesses that can be highly beneficial, and tax efficient, for both the vendor and the acquirer.
People businesses are typically valued around a price earnings ratio based on a cash free/debt free balance sheet. We can advise clients on how to build and lock in value to their business and how they can make it attractive to the acquirer. This is not a superficial gloss, but forms part of the overall strategic direction that can be built over time.
To find our more on building value into your business contact Nigel Bacon CEO Secantor
www.secantor.co.uk
Of course, all businesses are, to a greater, or lesser extent, people businesses. These days what used to be "pure play" people businesses can be enhanced through the use of technology, and indeed that is what we have done in our own business. So the value of our business not only lies in the great people that we have, but how we harness and magnify our people's efforts through the use of technology. In that way, we add real value for our clients which is something which others struggle to replicate.
In valuing people businesses the size of business is often a factor. The reason is not so much about growth for growth's sake, if we remember the adage "turnover is vanity, profit is sanity and cash is reality", it is more about dependencies. For instance, I have spent a large part of my career buying recruitment companies and marketing services companies, both of which are highly people dependent. A feature of both of those sectors of the market for smaller businesses is both customer concentration and a dependency on key individuals within the business, which increases the risks for a purchaser. The individuals are usually the owner managers themselves who are often the driving force behind the business. How do new owners ensure that the traction that has been created by that owner manager endures into the future? We have a number of models around acquiring people businesses that can be highly beneficial, and tax efficient, for both the vendor and the acquirer.
People businesses are typically valued around a price earnings ratio based on a cash free/debt free balance sheet. We can advise clients on how to build and lock in value to their business and how they can make it attractive to the acquirer. This is not a superficial gloss, but forms part of the overall strategic direction that can be built over time.
To find our more on building value into your business contact Nigel Bacon CEO Secantor
www.secantor.co.uk
Monday, 23 June 2014
The changing world of funding part 3
Asset Based Finance
Following on from Part 2 http://secantorceo.blogspot.co.uk/2014/06/the-changing-world-of-funding-part-2.html we continue to look at Asset Based Finance with a look into the costs. This is very timely with an article in the Times newspaper today
http://www.thetimes.co.uk/tto/business/industries/banking/article4126960.ece?CMP=OTH-gnws-standard-2014_06_22
regarding some of the practices of asset based lenders which remains an unregulated industry. It has to be said that the Asset Based Finance Association www.abfa.org.uk are making moves to clean some of the practices of the industry but the article highlights the fact that there are often hidden charges "in the small print". The article refers particularly to termination charges/penalties. This has long been an issue for buyers of businesses where they want to use their own providers of finance. Often the agreements specify prohibitive costs for transferring title in the debtor book. Having control of the debtor book is seen as important for a purchaser of a business since they do not want a third party being heavy handed with "their customers" and simply collecting in.
The point that the above raises is that the cost of Asset Based Finance is not simply about interest charges. The following ought to be considered when making comparisons between alternative providers of finance and indeed, when comparing with other sources of finance. look out for the following costs and charges and also examine the interest rates;
Arrangement Fees / non-refundable commitment fees
Due Diligence and audit costs / annual maintenance fees
Unutilised facility fees
Covenant compliance fees
Termination fees (referred to above)
Other things to consider are your own company costs of reporting and being compliant with the lending agreements.
Whilst Invoice Discounting or Factoring can be an effective way for a small business to get funding for growth, business owners should be aware that it can increase the complexity of the business. It is critical for businesses to manage their cash effectively whether you have Asset Backed Financing, or not. Secantor www.secantor.co.uk can help with this process through helping to plan the funding requirement and to source the correct mix of funding.
In Part 3 we will continue with the Asset based Finance theme and extend it into other areas, particularly the all important supply chain.
Following on from Part 2 http://secantorceo.blogspot.co.uk/2014/06/the-changing-world-of-funding-part-2.html we continue to look at Asset Based Finance with a look into the costs. This is very timely with an article in the Times newspaper today
http://www.thetimes.co.uk/tto/business/industries/banking/article4126960.ece?CMP=OTH-gnws-standard-2014_06_22
regarding some of the practices of asset based lenders which remains an unregulated industry. It has to be said that the Asset Based Finance Association www.abfa.org.uk are making moves to clean some of the practices of the industry but the article highlights the fact that there are often hidden charges "in the small print". The article refers particularly to termination charges/penalties. This has long been an issue for buyers of businesses where they want to use their own providers of finance. Often the agreements specify prohibitive costs for transferring title in the debtor book. Having control of the debtor book is seen as important for a purchaser of a business since they do not want a third party being heavy handed with "their customers" and simply collecting in.
The point that the above raises is that the cost of Asset Based Finance is not simply about interest charges. The following ought to be considered when making comparisons between alternative providers of finance and indeed, when comparing with other sources of finance. look out for the following costs and charges and also examine the interest rates;
Arrangement Fees / non-refundable commitment fees
Due Diligence and audit costs / annual maintenance fees
Unutilised facility fees
Covenant compliance fees
Termination fees (referred to above)
Other things to consider are your own company costs of reporting and being compliant with the lending agreements.
Whilst Invoice Discounting or Factoring can be an effective way for a small business to get funding for growth, business owners should be aware that it can increase the complexity of the business. It is critical for businesses to manage their cash effectively whether you have Asset Backed Financing, or not. Secantor www.secantor.co.uk can help with this process through helping to plan the funding requirement and to source the correct mix of funding.
In Part 3 we will continue with the Asset based Finance theme and extend it into other areas, particularly the all important supply chain.
The changing world of funding part 2
Asset Based Lending
In part 1 http://secantorceo.blogspot.co.uk/2014/06/the-changing-world-of-funding-part-1.html we talked about the growing importance of asset backed lending ("ABL" ) and the decline in overdraft lending. We covered ABL facilities against debtors and also touched on stock which is viewed as a more risky lend, due to the greater uncertainty around realisable values. In part 2 we will be discussing ABL facilities in a little more detail starting with a re-visit on debtors.
Debtors often form the largest class of asset against which facilities are provided. These facilities come from all of the clearing banks but also a multitude of specialised lenders. There are a wide variety of sources of debtor finance. So what are the considerations from an SME perspective.
Management need to consider how their businesses debtor book will be viewed by the lender. Factors to consider here are the size and quality of the debtor book. The incidence of bad and doubtful debts and the quality of the customers from whom payment is due to be received. Customer concentration is also a key consideration, with lenders looking for a good spread to reduce their risk. The nature of the debts is also very important, with debtors looking for a "book" which is easy to collect out in the event that the business gets into trouble. This often precludes businesses who have long term contracts with their customers, or substantially reduces the percentage that lenders are prepared to advance. Warranties that are provided to customers are another factor which might lead to a customer holding back payment if for any reason he felt that the business maybe unable to fulfil a warranty claim. Often SMEs are asked to consider insuring, either in part, or in whole their debts which of course adds to the cost of asset backed lending.
There is now a very sophisticated market in credit insurance with many specialist credit insurance brokers throughout the country. In reality, credit insurers often have as much interest as suppliers as to whether a business survives or fails and we now see the insolvency, and turnaround professions working very closely with the credit insurers. If a credit insurer withdraws cover then an asset backed lender may refuse to advance funds on that debtor account. This puts the supplier in an invidious position. He can continue to supply but he needs to consider that the withdrawal of credit insurance means that the risks have significantly increased. If he continues to supply on credit the business not only needs to fund this, probably out of its own resources, but needs to fully understand the business exposure to a possible bad debt. An alternative is for the supplier to demand pro-forma payments but this may not be possible from a customer perspective.
Clearly, the percentage that an ABL facility provider might advance is a key consideration, but this also needs to be considered in light of the "clawback period". Debtor finance will only be in place for a period following submission of an invoice to a customer. The business needs to look at the payment cycle of its customers and to understand any variability and as importantly the reasons for variability in that payment cycle. Whilst and SME will have terms of trade with its customers and these might typically state that an invoice is to be paid 30 days following the month end of submission, the reality is often very different. As a consequence, a lender might have a "clawback provision" for invoices that remain unpaid for a period of anything between say 60 days and 180 days of the month end, following submission of the invoice. Clearly, from the lenders viewpoint if it has not been paid by then, will it ever be? Sales invoices being time barred from the factoring or discounting facility can have a devastating effect on cashflow. The SME needs to keep on top of its aged debtors and to quickly understand reasons for non-payment and resolve them.
In part 3 we will be looking at further implications for SMEs in deciding whether Asset Backed Lending, is right, or not before moving on to look at other forms of funding that should be considered in different circumstances.
www.secantor.co.uk
In part 1 http://secantorceo.blogspot.co.uk/2014/06/the-changing-world-of-funding-part-1.html we talked about the growing importance of asset backed lending ("ABL" ) and the decline in overdraft lending. We covered ABL facilities against debtors and also touched on stock which is viewed as a more risky lend, due to the greater uncertainty around realisable values. In part 2 we will be discussing ABL facilities in a little more detail starting with a re-visit on debtors.
Debtors often form the largest class of asset against which facilities are provided. These facilities come from all of the clearing banks but also a multitude of specialised lenders. There are a wide variety of sources of debtor finance. So what are the considerations from an SME perspective.
Management need to consider how their businesses debtor book will be viewed by the lender. Factors to consider here are the size and quality of the debtor book. The incidence of bad and doubtful debts and the quality of the customers from whom payment is due to be received. Customer concentration is also a key consideration, with lenders looking for a good spread to reduce their risk. The nature of the debts is also very important, with debtors looking for a "book" which is easy to collect out in the event that the business gets into trouble. This often precludes businesses who have long term contracts with their customers, or substantially reduces the percentage that lenders are prepared to advance. Warranties that are provided to customers are another factor which might lead to a customer holding back payment if for any reason he felt that the business maybe unable to fulfil a warranty claim. Often SMEs are asked to consider insuring, either in part, or in whole their debts which of course adds to the cost of asset backed lending.
There is now a very sophisticated market in credit insurance with many specialist credit insurance brokers throughout the country. In reality, credit insurers often have as much interest as suppliers as to whether a business survives or fails and we now see the insolvency, and turnaround professions working very closely with the credit insurers. If a credit insurer withdraws cover then an asset backed lender may refuse to advance funds on that debtor account. This puts the supplier in an invidious position. He can continue to supply but he needs to consider that the withdrawal of credit insurance means that the risks have significantly increased. If he continues to supply on credit the business not only needs to fund this, probably out of its own resources, but needs to fully understand the business exposure to a possible bad debt. An alternative is for the supplier to demand pro-forma payments but this may not be possible from a customer perspective.
Clearly, the percentage that an ABL facility provider might advance is a key consideration, but this also needs to be considered in light of the "clawback period". Debtor finance will only be in place for a period following submission of an invoice to a customer. The business needs to look at the payment cycle of its customers and to understand any variability and as importantly the reasons for variability in that payment cycle. Whilst and SME will have terms of trade with its customers and these might typically state that an invoice is to be paid 30 days following the month end of submission, the reality is often very different. As a consequence, a lender might have a "clawback provision" for invoices that remain unpaid for a period of anything between say 60 days and 180 days of the month end, following submission of the invoice. Clearly, from the lenders viewpoint if it has not been paid by then, will it ever be? Sales invoices being time barred from the factoring or discounting facility can have a devastating effect on cashflow. The SME needs to keep on top of its aged debtors and to quickly understand reasons for non-payment and resolve them.
In part 3 we will be looking at further implications for SMEs in deciding whether Asset Backed Lending, is right, or not before moving on to look at other forms of funding that should be considered in different circumstances.
www.secantor.co.uk
Friday, 20 June 2014
Become part of the Secantor community on our Linkedin page
Why not become part of the Secantor community and join us on our LinkedIn company page. Share views on SMEs and the type of help and support required to grow their businesses.
https://www.linkedin.com/company/secantor
https://www.linkedin.com/company/secantor
The changing world of funding part 1
The striking feature of bank lending over the past few years has been the increase in asset backed lending and the decline in overdraft lending. Arguably, this has not necessarily been to the benefit of the customer who perceives overdraft facilities as flexible, and easy to use. Of course, on of the key reasons for the decline in overdraft lending has been the decline in the security available on overdrafts as a fixed charge over book debts (often the major realisable asset in a business) is no longer available.
Of course there is an argument to say that asset backed lending, particularly in the form of invoice discounting or invoice factoring, is appropriate for growing businesses. Whilst there will be a lending cap, such a facility enables the business to attract more funding as its turnover grows and as its debtor book (outstanding sales invoices) grows. Of course, the opposite is also true in that a decline in turnover will lead to a decline in funding. You may say that is not relevant if you have a young growing business, however, problems can arise if there are temporary dips in trade which may lead to short term losses that require funding, and asset backed lending can be seen as inflexible in such circumstances.
I the late 80's there were a number of American banks that entered the UK market who were not only prepared to fund debtors (at 70% - 90%) but also stock, commonly at around 50%. There were, and still are, a number of issues that surround the funding of stock. Some of the key issues are whether the business actually has title to the stock, since suppliers often have retention of title ROT clauses in their terms and conditions of sale. What these provide for is that the goods supplied remain theirs until such time as they are paid for. Often when one looks at the make up of stock within a business a large part of the raw material stocks will be covered by ROT clauses and these will be eliminated in a funders calculation of what they may be prepared to lend. Another key issue for a lending against stock is its likely realisable value in the event of a forced sale being required. With debtors where the contract has completed, but for payment, realisations should be high in the event of a business failing, since legally the customers would have no reasons for non-payment. However, the situation is very different in relation to stocks where any attempt to shift large quantities of finished goods will often require very significant discounts to be given to customers or other buyers of goods.
Before a business approaches a funder it is very important to understand the "art of the possible" and what is the appropriate funding mix (debt/equity) that is right for your business. Watch out for part 2 where we will discuss this further.
www.secantor.co.uk
Of course there is an argument to say that asset backed lending, particularly in the form of invoice discounting or invoice factoring, is appropriate for growing businesses. Whilst there will be a lending cap, such a facility enables the business to attract more funding as its turnover grows and as its debtor book (outstanding sales invoices) grows. Of course, the opposite is also true in that a decline in turnover will lead to a decline in funding. You may say that is not relevant if you have a young growing business, however, problems can arise if there are temporary dips in trade which may lead to short term losses that require funding, and asset backed lending can be seen as inflexible in such circumstances.
I the late 80's there were a number of American banks that entered the UK market who were not only prepared to fund debtors (at 70% - 90%) but also stock, commonly at around 50%. There were, and still are, a number of issues that surround the funding of stock. Some of the key issues are whether the business actually has title to the stock, since suppliers often have retention of title ROT clauses in their terms and conditions of sale. What these provide for is that the goods supplied remain theirs until such time as they are paid for. Often when one looks at the make up of stock within a business a large part of the raw material stocks will be covered by ROT clauses and these will be eliminated in a funders calculation of what they may be prepared to lend. Another key issue for a lending against stock is its likely realisable value in the event of a forced sale being required. With debtors where the contract has completed, but for payment, realisations should be high in the event of a business failing, since legally the customers would have no reasons for non-payment. However, the situation is very different in relation to stocks where any attempt to shift large quantities of finished goods will often require very significant discounts to be given to customers or other buyers of goods.
Before a business approaches a funder it is very important to understand the "art of the possible" and what is the appropriate funding mix (debt/equity) that is right for your business. Watch out for part 2 where we will discuss this further.
www.secantor.co.uk
Tuesday, 17 June 2014
The climate is good for scalable investments and disruptive technologies, but what about zombie companies and the threat of interest rate rises?
The tax climate has arguably never been better for investors and particularly those wishing to take advantage of the tax breaks available through EIS and Seed EIS.
Many of these investors are looking to back disruptive technologies that can break new ground and shift the playing field. They are looking for opportunities that can be scaled quickly, on a worldwide basis, through digital marketing channels. At this end of the spectrum, the pace of change is both fast and relentless, driven by the need to retain "first mover advantage", particularly where it is difficult to secure IP on a global basis.
At the other end of the spectrum we have what has become known as the "zombie companies" that remain constrained by both their debt and their often outdated business models. These companies are in a circle which is spiralling the wrong way. Now that the indicators are there for interest rates to rise this could force the position, and these businesses should seek help whilst they still have options.
At Secantor we have the resources and capability to deal with both ends of the spectrum, and everything in between. It is not just about knowledge, although that is hugely important to us as an organisation, where knowledge sharing is a way of life, but also about our connections and credibility with providers of both debt and equity.
Nigel Bacon
Secantor CEO
Fulfilling Business Potential
www.secantor.co.uk
Many of these investors are looking to back disruptive technologies that can break new ground and shift the playing field. They are looking for opportunities that can be scaled quickly, on a worldwide basis, through digital marketing channels. At this end of the spectrum, the pace of change is both fast and relentless, driven by the need to retain "first mover advantage", particularly where it is difficult to secure IP on a global basis.
At the other end of the spectrum we have what has become known as the "zombie companies" that remain constrained by both their debt and their often outdated business models. These companies are in a circle which is spiralling the wrong way. Now that the indicators are there for interest rates to rise this could force the position, and these businesses should seek help whilst they still have options.
At Secantor we have the resources and capability to deal with both ends of the spectrum, and everything in between. It is not just about knowledge, although that is hugely important to us as an organisation, where knowledge sharing is a way of life, but also about our connections and credibility with providers of both debt and equity.
Nigel Bacon
Secantor CEO
Fulfilling Business Potential
www.secantor.co.uk
Sunday, 15 June 2014
Secantor partners with Fleet Innovations
At Secantor we are not about selling intellectual property we are about knowledge transfer to enable businesses to fulfil their true potential. Much of this comes from our highly experienced and technically accredited people. However, part of it is about understanding some of the latest products that are in the market place that can help our clients become more efficient. An example of this is the PEAK mileage capture product from Fleet Innovations www.peakmiles.com . Read how you can use GPS technology to take the strain out of mileage expense claims.
http://www.governmentbusiness.co.uk/index.php/company-focus/223-transport/5436-fleet-innovations
www.secantor.co.uk
http://www.governmentbusiness.co.uk/index.php/company-focus/223-transport/5436-fleet-innovations
www.secantor.co.uk
Sunday, 8 June 2014
West Midlands funders getting behind SMEs
2014 can be described as a year when the pendulum is swinging for the West Midlands.
It is true that much of the growth has been driven by the JLR supply chain, but also the entrepreneurial culture of the region, which is now really starting to flourish. It is really pleasing to see that these innovative companies are securing finance from the likes of the Business Growth Fund,Mercia Fund, Midven, Finance Birmingham, Oxygen Accelerator, and others. it is great to be a part of all of this.
The power of all of this can be seen from the high value sale of Delcam Plc a worldwide 3D software business, principally for the manufacturing industry. It is a great example of how a local business, with good stewardship, can scale into a global business and maintain its market leadership, for the benefit of the region. Well done to Peter Miles and the team, you are to be congratulated.
Nigel Bacon
Secantor CEO
www.secantor.co.uk
It is true that much of the growth has been driven by the JLR supply chain, but also the entrepreneurial culture of the region, which is now really starting to flourish. It is really pleasing to see that these innovative companies are securing finance from the likes of the Business Growth Fund,Mercia Fund, Midven, Finance Birmingham, Oxygen Accelerator, and others. it is great to be a part of all of this.
The power of all of this can be seen from the high value sale of Delcam Plc a worldwide 3D software business, principally for the manufacturing industry. It is a great example of how a local business, with good stewardship, can scale into a global business and maintain its market leadership, for the benefit of the region. Well done to Peter Miles and the team, you are to be congratulated.
Nigel Bacon
Secantor CEO
www.secantor.co.uk
Friday, 6 June 2014
Secantor Supports Equity Investments
As we come to the end of our financial year it is very gratifying to see the number of SMEs where we have helped raise equity funds. From small business angel investments through to organisations such as Oxygen Accelerator www.oxygenaccelerator.com up to the £4m investment that the Business Growth Fund www.businessgrowthfund.co.uk made into Palmer Hargreaves www.palmerhargreaves.com .
We are delivering ongoing support to the SME community...help your business to grow.
www.secantor.co.uk
We are delivering ongoing support to the SME community...help your business to grow.
www.secantor.co.uk
Thursday, 13 March 2014
Government's Growth Voucher Scheme
Should you wish to try and gain Government Financial Assistance for some of our services please apply to the Growth Voucher Scheme.
For businesses looking
for advice
For businesses looking
for advice
Businesses looking for advice can apply to the programme online and they will be
randomly assigned to an online questionnaire or face-to-face business advice
assessment.
Some businesses will be randomly chosen to get a voucher for up to £2,000 to help pay for business support in one of the specialist areas. You’ll have to match the amount with your own funds. You can then find a Growth Voucher adviser to work with on the Enterprise Nation Marketplace.
Some businesses will be randomly chosen to get a voucher for up to £2,000 to help pay for business support in one of the specialist areas. You’ll have to match the amount with your own funds. You can then find a Growth Voucher adviser to work with on the Enterprise Nation Marketplace.
Mentoring
We are not a recruitment company, we are a professional services frim/outsourcer dedicated to providing solutions to the SME community.
We do not believe in a "one size fits all" approach to business. The core of what we do is providing an "Effective Finance Function", and this can be done in many different ways. Often I am told by prospective clients that they have a great financial controller or financial manager, but the business has got to a size where reliable historic financial information is simply not enough. In order for the business to grasp the opportunities that might lay head there needs to be a firm grip on "planning and control". The easy answer is to overlay a Finance Director. However, mentoring the Financial Controller to step up a level can be the preferred solution. I am often asked "how can I do that when I am already working full on". The answer often lies in helping everyone in financial function to take a step up which then gets us into the area of effective delegation.
For more about mentoring and effective delegation please ring me on 01564 330676.
Nigel Bacon
CEO
Secantor
www.secantor.co.uk
We do not believe in a "one size fits all" approach to business. The core of what we do is providing an "Effective Finance Function", and this can be done in many different ways. Often I am told by prospective clients that they have a great financial controller or financial manager, but the business has got to a size where reliable historic financial information is simply not enough. In order for the business to grasp the opportunities that might lay head there needs to be a firm grip on "planning and control". The easy answer is to overlay a Finance Director. However, mentoring the Financial Controller to step up a level can be the preferred solution. I am often asked "how can I do that when I am already working full on". The answer often lies in helping everyone in financial function to take a step up which then gets us into the area of effective delegation.
For more about mentoring and effective delegation please ring me on 01564 330676.
Nigel Bacon
CEO
Secantor
www.secantor.co.uk
Strategy Days
Our clients fall mainly within the band of £2m t/o to £50m t/o. Many are either family businesses or entrepreneurial businesses run by owner managers.
Many of these clients lack formal management training, but have created successful businesses through hard work, resilience and robustness. These clients want experienced, qualified and commercial people to help them with Strategy and Finance. We are doing a number of roles with clients where I run strategy away days (usually two sessions per annum) and where we might also run their finance function either through a Finance Director or a Financial Controller (depending on the size of business and the requirement these might be part-time roles). This enables me to keep abreast of how the business is doing and "what drives the numbers", so that I can facilitate a strategy day, and, "hit the ground running".
It is amazing what can be gained by taking a step back and having a helicopter view of the business and the market it operates in. This can also help with exit strategies or succession within a business.
To find out more , ring me on 01564 330676
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Many of these clients lack formal management training, but have created successful businesses through hard work, resilience and robustness. These clients want experienced, qualified and commercial people to help them with Strategy and Finance. We are doing a number of roles with clients where I run strategy away days (usually two sessions per annum) and where we might also run their finance function either through a Finance Director or a Financial Controller (depending on the size of business and the requirement these might be part-time roles). This enables me to keep abreast of how the business is doing and "what drives the numbers", so that I can facilitate a strategy day, and, "hit the ground running".
It is amazing what can be gained by taking a step back and having a helicopter view of the business and the market it operates in. This can also help with exit strategies or succession within a business.
To find out more , ring me on 01564 330676
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Saturday, 8 February 2014
Vernon George appointed Regional Director for the East Midlands
I am delighted to announce that Vernon George has been appointed Regional Director for Secantor in the East Midlands.
Following a successful career with NatWest and the IoD, Vernon is ideally placed to help our SME clients in the East Midlands.
uk.linkedin.com/pub/vernon-george/6/a17/975
Nigel bacon
CEO
Secantor
www.secantor.co.uk
Following a successful career with NatWest and the IoD, Vernon is ideally placed to help our SME clients in the East Midlands.
uk.linkedin.com/pub/vernon-george/6/a17/975
Nigel bacon
CEO
Secantor
www.secantor.co.uk
Friday, 20 December 2013
Secantor helps Palmer Hargreaves secure £4m of development capital from the Business Growth Fund
We are delighted to support Andrew Clift, Randy Weeks and all the team at PH to secure £4m of development capital from the Business Growth Fund. http://palmerhargreaves.com/news/palmer-hargreaves-announces-4m-funding-injection-from-bgf .
Well done to John Dernie of Secantor.
Any SMEs wishing to learn more about how to secure development capital should contact us on 07887 826824
Nigel Bacon
CEO
Secantor
www.secantor.co.uk
Well done to John Dernie of Secantor.
Any SMEs wishing to learn more about how to secure development capital should contact us on 07887 826824
Nigel Bacon
CEO
Secantor
www.secantor.co.uk
Tuesday, 26 February 2013
Secantor supports Activ8 funding round
Secantor is pleased to support the the latest funding round of Activ8 www.a8i.co.uk a ground breaking company in the field of HR analytics.
Organisations these days are more and more dependant upon their human capital for their success. HR analytics takes HR intelligence out of the HR department and into the organisation so that performance becomes transparent. This is at the heart of what Secantor do from a financial perspective, taking a finance function from something that is to do with compliance and upgrading it to financial intelligence at the heart of the organisation's decision making process.
The "merger" of HR analytics and financial analytics is a "hot topic" and one which Secantor is proud to be involved with.
Not only does Activ8 look at past performance metrics but combines this with predictave technologies to forecast likely outcomes. A powerful tool in assessing the required criteria for individuals that a business is looking to employ. This is is similar to Secantor's financial approach which seeks to build on historic financial information to forecast "what if scenarios" for SMEs. This effectively reduces risk and maximises return.
Let's get HR and Finance working together to add value for organisations!
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Organisations these days are more and more dependant upon their human capital for their success. HR analytics takes HR intelligence out of the HR department and into the organisation so that performance becomes transparent. This is at the heart of what Secantor do from a financial perspective, taking a finance function from something that is to do with compliance and upgrading it to financial intelligence at the heart of the organisation's decision making process.
The "merger" of HR analytics and financial analytics is a "hot topic" and one which Secantor is proud to be involved with.
Not only does Activ8 look at past performance metrics but combines this with predictave technologies to forecast likely outcomes. A powerful tool in assessing the required criteria for individuals that a business is looking to employ. This is is similar to Secantor's financial approach which seeks to build on historic financial information to forecast "what if scenarios" for SMEs. This effectively reduces risk and maximises return.
Let's get HR and Finance working together to add value for organisations!
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Thursday, 24 January 2013
Building Your Finance Function Part 2
Building your finance function is not a one size fits all exercise. There are a wide range of choices:
1) There is the people mix, in terms of matching the differing levels of seniority. Why go to a recruiter as the first stage? Prior to this you need to understand the apprtopriate staff mix for the finance function and this is where Secantor can help you; with the decisions about whether you should appoint at the bookeeper level, the mangement accountant level, the financial controller level or a part-time finance director. All of this will mean that you have the appropriate input of expertise and skills at the appropriate level. In this way you will end up saving costs on your finance function by ensuring the right amount of input, at the right level. Many businesses from £2m t/o upwards should have a finance director but you do not usually need a full time finance director until your turnover is in excess of £30m. At this level, it is not so much about time as it is about skills, and experience.
2) Growing businesses need to start to integrate their finance function as an information centre. This then delivers real value by helping management run the business, and to enable effective delegation that is required for growth.To achieve effective delegation mangament need regular information for planning and control purposes. Ensuring that the finance function is delivering value to management is the domain of the FD.
3) At Secantor we have many years of experience of developing finance functions for SMEs. We can help guide you through the maze of what at first sight only appears to be a cost. We can paint a picture for you of how your business might look in the future and the building blocks to get there. An effective finance function should be coupled with stakeholder management, through your part-time FD so that you can focus on growing the business knowing that your investors and bankers are being kept informed. This means that there are no "shocks or surprises" building confidence that mangment are capable of running a larger business.
4) Systems and processes are critical in the development of the finance function and its linkages with other parts of the organisation. Secantor harnesses the talent of all its people to ensure the right solution for you.
5) Outsourcing. We have many clients that simply ask us to run their finance functions with agreed outputs this can not ony be cost effective but scalable to avoid those step changes you might experience through employing extra people.
For a free consultation call us on 01564 330676.
www.secantor.co.uk
1) There is the people mix, in terms of matching the differing levels of seniority. Why go to a recruiter as the first stage? Prior to this you need to understand the apprtopriate staff mix for the finance function and this is where Secantor can help you; with the decisions about whether you should appoint at the bookeeper level, the mangement accountant level, the financial controller level or a part-time finance director. All of this will mean that you have the appropriate input of expertise and skills at the appropriate level. In this way you will end up saving costs on your finance function by ensuring the right amount of input, at the right level. Many businesses from £2m t/o upwards should have a finance director but you do not usually need a full time finance director until your turnover is in excess of £30m. At this level, it is not so much about time as it is about skills, and experience.
2) Growing businesses need to start to integrate their finance function as an information centre. This then delivers real value by helping management run the business, and to enable effective delegation that is required for growth.To achieve effective delegation mangament need regular information for planning and control purposes. Ensuring that the finance function is delivering value to management is the domain of the FD.
3) At Secantor we have many years of experience of developing finance functions for SMEs. We can help guide you through the maze of what at first sight only appears to be a cost. We can paint a picture for you of how your business might look in the future and the building blocks to get there. An effective finance function should be coupled with stakeholder management, through your part-time FD so that you can focus on growing the business knowing that your investors and bankers are being kept informed. This means that there are no "shocks or surprises" building confidence that mangment are capable of running a larger business.
4) Systems and processes are critical in the development of the finance function and its linkages with other parts of the organisation. Secantor harnesses the talent of all its people to ensure the right solution for you.
5) Outsourcing. We have many clients that simply ask us to run their finance functions with agreed outputs this can not ony be cost effective but scalable to avoid those step changes you might experience through employing extra people.
For a free consultation call us on 01564 330676.
www.secantor.co.uk
Sunday, 19 February 2012
How can a Secantor FD make you money?
All Secantor FDs are focussed on bringing value to businesses. Here are some of the ways they do this?
Firstly, they are not full-time and therefore concentrate on as "little as you need" so that they stay on the shoulder of the entrepreneur or owner manager for the whole of the journey. Their time can increase or decrease according to the needs of a business, at any particular point in time. Their time is therefore utilised in a very cost effective manner.
Secondly, one of the first tasks of a Secantor FD is to ensure that the finance function is set up in an effective way. Often savings can be made in streamlining financial systems and processes not only to save cost, but also to deliver timely, relevant and reliable management information. So often finance departments have grown up in an adhoc way to ensure that a business is complying with the requirements of HMRC and its bank. We often find that routine tasks can be performed in a more effective way and that existing finance staff are capable and willing to do so much more, but need mentoring to achieve this. Driving efficiencies in finance means that the function can cope with greater volumes with little additional cost. Outsourcing maybe be an option but the mission critical nature of finance often means that owner mangers perceive the risks of going this route as too great. However, having a Secantor FD to help them through this process de-risks it leaving owner managers to focus on growing the business.
Thirdly, the Secantor FD will look at the procurement processes and look at ways to implement cost savings without reduction in quality.
Fourthly, the Secantor FD will look at the cost of capital and determine the optimum capital and funding structures available to a business. The reputation of Secantor is important in raising finance whether it be tratidional bank lending, asset based lending, or equity funding from high net worth individuals (business angels) through private equity, to the Alternative Investment Market..
Fifthly, the Secantor FD will look at the balance sheet of an organisation and in particular the working capital elements to see if there are areas for reduction to free up cash or, reduce borrowing requirements. They will use techniques such as economic ordering quantities and optimum stockholding levels to professionalise the management of working capital. A focus on the optimum use of scarce resources is fundemental to an organisation achieving goals that were previously unattainable, due to a lack of planning and control.
The above represent some of the areas where a Secantor FD can quickly make a difference. On top of this all of our FDs will be working with the mangement teams to contribute to the opportunities that might be avaialble to increase sales and profits and cash generation.
Why a Secantor FD? It is obviously true that there are many good indiviaul FDs who are able to help businesses. However, all of our people have gone through a formal recruitment, assessment accreditation process as well as having exemplary career histories before joining Secantor. They all have a desire to pursue a portfolio career with small and medium sized businesses where they can make a difference to performance. They all share the common values of Secantor (see www.secantor.co.uk) and work together to share knowledge, expertise and contacts/connections for the benefit of clients. The impact is demonstrated by the testimonials of our clients http://www.youtube.com/user/secantortv .
Lets talk about what we can do for you - 01564 330676.
Firstly, they are not full-time and therefore concentrate on as "little as you need" so that they stay on the shoulder of the entrepreneur or owner manager for the whole of the journey. Their time can increase or decrease according to the needs of a business, at any particular point in time. Their time is therefore utilised in a very cost effective manner.
Secondly, one of the first tasks of a Secantor FD is to ensure that the finance function is set up in an effective way. Often savings can be made in streamlining financial systems and processes not only to save cost, but also to deliver timely, relevant and reliable management information. So often finance departments have grown up in an adhoc way to ensure that a business is complying with the requirements of HMRC and its bank. We often find that routine tasks can be performed in a more effective way and that existing finance staff are capable and willing to do so much more, but need mentoring to achieve this. Driving efficiencies in finance means that the function can cope with greater volumes with little additional cost. Outsourcing maybe be an option but the mission critical nature of finance often means that owner mangers perceive the risks of going this route as too great. However, having a Secantor FD to help them through this process de-risks it leaving owner managers to focus on growing the business.
Thirdly, the Secantor FD will look at the procurement processes and look at ways to implement cost savings without reduction in quality.
Fourthly, the Secantor FD will look at the cost of capital and determine the optimum capital and funding structures available to a business. The reputation of Secantor is important in raising finance whether it be tratidional bank lending, asset based lending, or equity funding from high net worth individuals (business angels) through private equity, to the Alternative Investment Market..
Fifthly, the Secantor FD will look at the balance sheet of an organisation and in particular the working capital elements to see if there are areas for reduction to free up cash or, reduce borrowing requirements. They will use techniques such as economic ordering quantities and optimum stockholding levels to professionalise the management of working capital. A focus on the optimum use of scarce resources is fundemental to an organisation achieving goals that were previously unattainable, due to a lack of planning and control.
The above represent some of the areas where a Secantor FD can quickly make a difference. On top of this all of our FDs will be working with the mangement teams to contribute to the opportunities that might be avaialble to increase sales and profits and cash generation.
Why a Secantor FD? It is obviously true that there are many good indiviaul FDs who are able to help businesses. However, all of our people have gone through a formal recruitment, assessment accreditation process as well as having exemplary career histories before joining Secantor. They all have a desire to pursue a portfolio career with small and medium sized businesses where they can make a difference to performance. They all share the common values of Secantor (see www.secantor.co.uk) and work together to share knowledge, expertise and contacts/connections for the benefit of clients. The impact is demonstrated by the testimonials of our clients http://www.youtube.com/user/secantortv .
Lets talk about what we can do for you - 01564 330676.
Thursday, 26 January 2012
Secantor provides funding for Nu-Drive
Secantor provides funding for Nu-Drive www.nu-drive.com.
NuDrive is the innovative new propulsion accessory for manual wheelchairs, providing more independence and improving physical well-being. See Nu Drive in action http://www.youtube.com/watch?v=w1GRbjTZR98
NuDrive is the innovative new propulsion accessory for manual wheelchairs, providing more independence and improving physical well-being. See Nu Drive in action http://www.youtube.com/watch?v=w1GRbjTZR98
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