Case Study: Covid-19. Business, but not as usual
Whichever industry you are in, we make it our business to understand yours. Here are just a few examples of how we’ve helped our clients.
How can we not mention Covid-19? The pandemic has presented a challenge like none other we’ve seen in our lifetimes, disrupting business as we know it and subjecting us to a prolonged period of economic pressures.
That’s why many businesses need help to navigate their way through the crisis.
Funding for your business
Covid-19 has caused market uncertainty and made banks cautious and unwilling to take risks. So it’s harder for companies to get funding. And although our reputation and long-standing relationships with banks is a help, it’s also important for the financials to show a business in the best possible light.
Our experience can make the difference.
For example, one of our clients risked losing their bank’s support if they had presented a £20K deficit when their facilities came up for review. Loans could have been rejected and overdraft facilities cancelled.
However we saw that goods in transit had been overlooked in the company’s stocktake, so we re-evaluated the company’s figures and these now show a surplus of £15K. That meant our client kept their bank’s confidence – and their business trading.
It’s not just banks that need to be shown accurate figures in this crisis.
Another of our clients helps to care for the vulnerable and elderly. They are paid a fee by the NHS for providing this service, and couldn’t understand why they were running at an unsustainable loss.
We saw their figures didn’t add up.
The company was under-pricing because they had failed to take into account employee associated employment costs. Now they have re-presented to the NHS who have agreed to pay a more appropriate rate. The company is profitable again and can continue to provide an essential service to the local community.
Sometimes a change of direction is needed
Social distancing and lockdowns means some companies can’t continue operating in the usual way. But it takes entrepreneurial vision to see a viable alternative.
Others see the lockdown as a barrier to business
Our client ran workshops where customers refurbished traditional furniture that they could keep for themselves. Then Covid-19 ground their business to a halt.
We saw an opportunity.
With people having to spend much more time at home, we correctly predicted an upsurge in Do-It-Yourself activity. So we suggested our client could take advantage by selling the special paint used in refurbishment online using their customer database for lead generation via email. Now they are enjoying the best ever trading results in their history.
Whether your company needs funding, re-appraisal or a new direction, find out how Morgan Berkeley can help your business, even during a pandemic.
Another flattering testimonial
“Morgan Berkeley have helped us enormously over the years,” explains their managing director.
“They’ve saved us significant time and resources and their monthly review of management accounts has proven invaluable.”