Antony Batty Company celebrates 25th birthday

FOCUS ON finance

with Peter Harding

Rising to the business challenges of increased rates and inflation

Just as the Covid crisis begins to fade, a number of other significant challenges for entrepreneurs have presented themselves. Looming largest is runaway inflation, which sees the Bank of England attempting to control it by raising interest rates.

The combination of sharply rising prices with successive increases in interest rates has put pressure on business owners for two reasons. Firstly, the cost of doing business – buying raw materials, paying wages and general overheads – has shot up.

Secondly, rising interest rates mean the cost of business loans will go up, which restricts financing options for companies, especially those already in debt.

What can you do if your business is trying to deal with rising prices? Many businesses are contemplating – or have already taken – drastic action to mitigate the impact of inflation. According to a survey of 985 businesses, published in February this year by the British Chambers of Commerce, 73 per cent of firms said they are increasing prices in response to rising costs.

Another issue for businesses to contend with is rising energy prices. Unlike consumers, businesses do not have a price cap to protect them, and they face spiralling costs in the months ahead. According to research commissioned by NatWest in Sept 2021, out of 500 small to medium size business owners surveyed, 70 per cent believe that the cost of their energy bill impedes the growth of their business.

In these challenging times, it’s important for businesses to look carefully at their expenditure and ensure the financial planning arrangements in place continue to remain up to date and relevant.

To receive a complimentary guide covering wealth management, retirement planning or inheritance tax planning, contact Peter Harding Wealth Management on 01202 830730 or email peterhardingwm@sjpp.co.uk Peter Harding Wealth Management is a trading name of Peter Harding Practice Ltd. www.peterhardingwm.co.uk

Antony Batty & Company celebrates 25th birthday

Insolvency practitioner and turnaround specialist Antony Batty is celebrating 25 years in business as licensed insolvency practitioners.

Over the past 25 years, the company has grown from one to five offices with five insolvency practitioners and over 40 employees. Established in 1997 by Antony Batty, in what he calls a ‘moment of madness’, it has seen many changes over the years.

At the beginning, Antony was joined by Hugh Jesseman, who gave up his successful career at Ernst & Young to join the firm. The two of them remained the only employees for the first three years.

The company’s first case was the liquidation of Davzest Limited in June 1997. It was appointed to its 2,500th case in 2021.

As the company grew, more partners joined: Stephen Evans, now a consultant with the firm, joined in 2007; Hugh qualified as a licensed insolvency practitioner in 2004 and was made a partner in 2011; Lawrence King and Matt Waghorn became partners and licensed insolvency practitioners at Antony Batty’s Thames Valley sister company in 2021; and the most recent addition was Claire Howell, partner and licensed insolvency practitioner.

The Bournemouth office opened in 2020 as the company’s client base and demand for its services grew in Dorset.

Over the years, there have been happy and sad times. There have been several staff weddings and births, and sadly, two of the company’s past employees have passed away: David Pallen who was a consultant and Michelle Barthel, its third employee, who passed away at a very young age in 2016 after a tough battle with cancer. Both are remembered with fondness and sadness in equal measure.

The company has dealt with many interesting assignments over the years, notably the administrations of the international retail brands, Deschamps, Missoni London and Zilli UK; travel companies including Diamond Shortbreak Holidays and Isle of Wight Tours; the first debt for equity swap Company Voluntary Arrangement of Orchard Furniture PLC; and, more recently, winding up Venture Capital Trusts for Downing and Triplepoint.

Antony said: “Having run my own business for 25 years, I understand the emotional and financial roller coaster that business owners ride on, which of course includes highs and lows. I hope that my own experiences make me more empathetic towards directors and owners of business who are facing business difficulties, often through no fault of their own, for example, Brexit and the pandemic.

“Now we look forward to the next 25 years. The life of licensed insolvency practitioners is exciting and ever changing, and whatever happens, we will always be here for businesses and individuals for when it isn’t business as usual.” www.antonybatty.com