January can be a gloomy month. Dark, dank days, Christmas but a memory and a bulging belt after all that feasting. Now the bills are coming in.
On the economic front, the VAT rate has jumped to 20%, fuel prices are at an all time high and the public sector has begun wielding the axe for expenditure cuts. Here at Jack Ross, we are ensuring that all our clients’ personal Tax Returns are completed by the 31 January deadline.
Despite all of this, we are not too downbeat. In fact, we’d go as far as saying 2011 will be a year of growth. Why the optimism? Well, interest rates remain at an all time low and, increasingly, we are seeing evidence that the banks are starting to lend. We recently helped one of our clients secure a 100% Loan To Value £2m facility. Currently we are helping a company sell its business and it has already achieved the full asking price thanks to the support of the purchaser’s bank.
At Jack Ross we deal with a wide cross section of businesses and we firmly believe that there will be opportunities for all business sectors in the months ahead. Although it may be difficult, it is not impossible to make reasonable profits.
Over the past 18 months we have worked with a number of clients to help them reduce their cost base as far as possible. Those that have are now beginning to see the results of that pain in the shape of improving margins. In 2011 they are looking to improve sales volumes. The storm has been weathered and brighter more profitable days are certainly in prospect.
If you would like to arrange a meeting with me or another Jack Ross partner to discuss how to grow your business please contact bernadette.gibson@jackross.co.uk
Umar Memon, Corporate & Audit Partner