Mike Tombs's Blog

This blog provides information about tax, accounting and other issues affecting small owner-managed businesses in the UK. It is intended as a general source of information but you should not assume that everything applies to your specific circumstances. We are always happy to discuss providing tailor-made solutions to suit your individul needs. Visit www.tlaservices.co.uk to sign up for our free monthly Tax Tips and News newsletter.

Monthly Archives: June 2012

How to get your bank to say YES!

How much does it cost to get a bank to say “YES!”

Sir Mervyn King’s £140 billion scheme announced last week to lubricate the banking system and encourage a flow of funds to SMEs and prospective home buyers may not have resulted in an overnight about-turn on the part of the bankers, but there is no doubt now that the balance of probability has shifted in favour of businesses who are prepared to invest.

Along with the Treasury, Sir Mervyn’s plan involves two tranches of support for the banking system:

  • £5 billion a month in cheap six-month loans to banks to guarantee liquidity. The £60 billion total could be much higher as the Bank of England has pledged to provide “whatever liquidity is required” to prevent banks running out of cash.
  • An £80 billion a year “funding for lending” scheme which will enable banks to swap difficult assets for Government bills (the equivalent of cash) but only on condition they pass it on to businesses and households in the form of cheaper loans and mortgages. The scheme will last for four years.

These build on the £20 billion National Loan Guarantee Scheme launched in March and add up to a huge package of support for the banks and, potentially, for businesses that are keen to invest.

All this does not mean that your bank manager is just going to roll over. Banks are still strongly risk-averse and the current turmoil in the Euro-Zone is not making them feel any more generous.  But, if you make your case well, the funds are there. And we can help you make your case.

We have produced a short guide – “How to get your bank to say Yes!“.  It won’t guarantee you a loan, but we can guarantee that your chances of getting one will be much higher.  Just drop me a line – miketombs@tlaservices.co.uk – and I’ll send you a copy.


The rebranding blues

The rebranding blues

It seems I have started something big. At the end of April I wrote to my clients with exciting news about our practice.  I was giving up the old blue livery for the brand new claret and grey of TLA Business Services.

I wasn’t doing it to start a trend. I just wanted to expand the services we provide and make better use of our skills in business planning and metrics. And I wanted my new business to reflect that change.  I really didn’t have anything in particular against the colour blue.  And I certainly didn’t expect Tesco to follow suit last month, giving up its 20-year-old blue-striped Value brand for a softer, more upmarket look. Barely a glimpse of blue to be seen. And then, last week the Bluebirds of Cardiff FC abandoned 100 years of blue for a new scarlet home strip.

Now, I’m no trendsetter, but it does seem that the launch of TLA Business Services started something big.  Which brings me neatly to the point of this blog.  We like to work with small businesses with big ambitions. I want us to be at the heart of exciting change and growth in small and medium enterprises throughout Worcestershire, where our business development skills can really help to catalyze the dreams of our clients and turn them into reality.

TLA Business Services may be a new brand but our core principles remain the same; we don’t charge any more for the services we already provide but we are more efficient and our proactive approach helps us to make a bigger contribution to our clients’ bottom line.

Of course we are, at heart, accountants – fully qualified chartered management accountants – so we can take care of all that boring stuff which keeps you from growing your business. And we do it professionally and smartly. And we now work closely with AVN (the Added-Value Network), a broadly-based association of UK accountants, who have developed a range of powerful business improvement tools and we will be using these to support new services that will be rolled out in the next few months – watch this blog and your inbox for more details.

Whatever the colour of your brand, if you’re ambitious for your business but struggling to turn your dreams into reality, don’t get the blues, pick up the phone and talk to me on 01905 21411 or contact me through the website at www.tlaservices.co.uk.