Orchard Growth CEO Delivers Speech to Small Businesses at Start of Small Business Week
Ash Mehta’s speech at the commencement of Small Business Week, the nationwide initiative that is bringing together government, business and independent organisations to drive support for smaller enterprises, warned about the risks companies face as the economy comes out of recession.
Ash Mehta's speech conveyed a clear message as he launched Orchard Growth's programme to support businesses during the crucial recovery period; small and medium sized businesses will lead Britain out of recession but they need to be wary of the pitfalls they face during economic recovery. Orchard, which provides part time and interim finance director (FD) services, have put together a simple set of processes for its part time Finance Directors to implement, which highlight the importance of planning, people and finance in ensuring business survival and success.
"Historically businesses are more at risk coming out of recession than they are during a recession," said Mehta. "This is often due to the fact that they fail to plan adequately, especially in terms of working capital, and sadly run out of cash just as they look set to move up to the next level." Mehta believes that the importance of SMEs to Britain's economic recovery cannot be overstated. "With larger companies and the public sector still looking to shed jobs, it will be down to small and medium sized businesses to pick up the slack and take advantage of the talent that is available at this stage of the economic cycle."
"The last year or so has been tough, but more businesses have survived than might have been expected. This is probably due to government pressure on banks and the HMRC to be lenient with smaller companies. There are signs now that a turning point has been reached, but there are still some clouds on the horizon. Therefore it will not be possible to rely on economic growth alone to grow a business," says Mehta. "Coming out of a recession can be a dangerous time, but if a business plans properly, keeps learning and developing, stays flexible, gets the best out of its people, ensures its products and services remain relevant and sticks to the basics when managing its finances, there is an excellent chance that it will enjoy real success as the economy picks up."
About Orchard Growth Partners
Orchard Growth Partners provides companies across the UK with financial director services, whenever and wherever growing businesses need it. Orchard Growth specialises in providing interim and part time FDs for growth businesses, providing top level financial expertise without the usual costs and complications of employing a full time finance director. Orchard Growth's finance directors have both financial and commercial acumen, and are experts in strategic business planning and business growth consulting.
Orchard Growth Partners also provides extensive help to growing businesses that are seeking venture capital funding, or other types of small business fund raising. We have extensive connections with the business angel network and provide tailored help for growth businesses at all stages of the capital fund raising process. Our financial director services also assist owners with planning their business exit strategy and also prepare for initial public offerings. Orchard Growth Partners pride themselves upon providing the financial expertise to guide a business owner through the growing pains of business expansion, freeing them to concentrate on running their business.
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