Menzies Business Sectors

UK BUSINESS SECTOR ADVICE & EXPERTISE

Our key strength is focus. We focus on our clients – understanding your business via our in-depth sector expertise, which enables us to provide you with insights that add real value.

Our Relationship Partners focus on getting to know you. Research shows that 72% of business owners feel that meeting regularly with their accountant adds value to their business. We use a consultancy-led approach and a variety of diagnostic tools we’ve developed to challenge your objectives and guide your business growth.

WE CALL THIS #BRIGHTERTHINKING.

For more information or to enquire about our consultancy-led business approach, contact us.


Charities and Not for profit

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The Charities and Not for Profit sector faces many challenges. The financial climate is an on-going concern, as income from local and national government continues to decline. Yet the provision of services by the sector continues to grow, partly due to demand, and partly due to government policy. The success of Charities and Not for Profit organisations ultimately relies on their reputation and good governance, but transparency and effective regulation of the sector all have a role to play.

The Charities and Not for Profit sector encompasses a wide range of entities carrying out diverse activities. Our Charities and Not for Profit sector experts understand the issues facing both trustees and executive management, supporting them with a range of services.


Financial Services

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With all the changes that have impacted on the Financial Services sector in the last few years (Changing regulation, Brexit) it is almost a surprise that the sector has continued to grow, and some may say thrive, in the UK.

However it should not, as the real asset the UK possesses is the people who work here, it is due to them that London has become so powerful as a financial centre and it is because of the network of firms and knowledge that the sector will continue to call the UK its home for years to come.

Though of course there will be continuing challenges, the ongoing negotiations over the exit from the EU will present an ongoing threat but also a potential opportunity for firms in the UK to do things a little differently. The way the UK is leading the charge in using technology to solve some of the financial systems problems is both a strength and also a threat to small businesses. As new ways of doing things emerge, time efficiencies and streamlined advice to their clients will become more difficult for a traditional firm to compete with. It is important that all firms in the sector get on board with these changes and embrace them to avoid getting left behind.

Hospitality & Leisure

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Consumer spending in the hospitality and leisure sector has remained strong despite the uncertain economic climate and low wage growth. A recent study by Mintel has forecast that we will be spending £141 billion on enjoying our leisure time by 2022 and tourism spend in the UK is forecast to grow to £257 billion by 2025. Due to this positive outlook, businesses in the sector – pubs, restaurants, hotels, health and wellness, gambling businesses and others are competing.

We advise hotels, pubs, clubs and leisure operators, as well as a number of sector-dependent clients. We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.


Legal Services

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We have a dedicated barrister accountancy specialists who deal with all levels of the legal sector including barristers, those starting out in pupillage to QC’s and judges.

The difficulties in dealing with the intricate tax rules applying to barristers, mean that it is essential to get specialist advice in connection with your tax affairs.


Manufacturing

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The future of manufacturing industries globally is bright. According to IIoT World, 27% of worldwide manufacturers estimate at least a 10% YOY increase in revenues until 2024. This growth doesn’t come without challenges, such as trade barriers, political instability and keeping pace with technological advances, whilst remaining sustainable.

The UK itself is currently the 9th industrial nation in the world, accounting for 45% of the country’s exports and 69% of its R&D activity. Despite global economic uncertainty, UK manufacturers remain resilient and resourceful. Investment in automation and technology, combined with a focus on high-value manufacturing, is high on the agenda.

The Government’s Industrial Strategy has identified some key areas of opportunity for innovative manufacturers which promotes significant growth potential. As the need to be sustainable is becoming essential rather than desirable, more manufacturers are stepping up to meet the environmental concerns – and making cost savings in the process.

We advise a diverse range of manufacturers, as well as a number of sector-dependent clients. We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.


Property & Construction

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The UK property and construction sector encompasses a wide range of businesses from small scale buy-to-let investors to multi-national construction groups. Over recent years the sector has seen many changes, in particular the changing tax rules. The general economic environment and political uncertainty have had a significant impact on the sector.

On the up-side, the government has shown commitment to supporting the development of new housing and infrastructure, opening up opportunities to develop and invest in different types of property. New technology and innovative build techniques bring exciting new advancements to the sector and property is still regarded as a safe investment in the long term.

We advise commercial and residential developers, contractors, owners and investors, as well as sector-dependent clients. We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.


Recruitment

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We understand that businesses operating within the recruitment sector industry face specific challenges.

The UK recruitment sector has demonstrated resilience in recent years, and plays a vital role in the growth of the UK economy. However, recruitment businesses will always be one of the first to experience the impact of changes in global business confidence. Mitigating this risk and protecting business value, remains a key challenge for the recruitment industry.

Retail & Wholesale

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These are tumultuous times for the UK’s retail sector. A shift in consumer spending habits and the rapid growth of online shopping platforms, such as Amazon, has reduced footfall on the high street and placed increased pressure on the operating margins of many SME retailers.

Despite this, UK retail sales totalled £395 billion recently and businesses in the sector are striving to differentiate their offerings by providing an enhanced customer experience, easier access, improved payments and faster delivery.

We advise retail, wholesale and online retailers, as well as sector-dependent clients. We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.


Technology

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The UK’s technology sector is thriving. Worth about £184 billion, the sector is growing 2.6 times faster than the rest of the economy and employment is high. Being innovative by nature, technology businesses rely on funding to succeed in developing products for today’s markets and those of the future.

We advise finance, fashion, marketing, clean tech and property-related technology businesses, in particular. We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.


Transport & Logistics

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Today’s business owners in the transport and logistics sector face many challenges, which need to be managed successfully to build a strong and profitable business.

Lower operating margins, tough competition, driver shortages and rising costs, including those linked to the introduction of Clean Air Zones across the UK, are making it harder for all businesses to make a profit.

We advise transport and logistics companies, from air and sea freight forwarders and hauliers, to domestic and international couriers. We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.

We advise transport and logistics companies, from air and sea freight forwarders and hauliers, to domestic and international couriers. We work closely to find solutions to industry issues, utilising our experience in everything from business strategy and corporate finance, to audit and tax advice.