STAND OUT BUSINESS SUPPORT
FROM START-UP TO GLOBAL LEADER EY HAS BEEN COMMITTED TO SUPPORTING ENTREPRENEURIAL BUSINESSES THROUGHOUT THEIR GROWTH JOURNEY FOR MORE THAN 30 YEARS. ADRIENNE MCGILL TALKS TO TWO EY DIRECTORS IN BELFAST, JONATHAN FORDE AND ANDREW DOLLIVER, AND HEARS HOW THE FIRM IS HELPING ENTREPRENEURS TO BECOME THE GLOBAL MARKET LEADERS OF TOMORROW.
S
tarting out in business can be a daunting affair. For many new entrepreneurs, the process of launching and growing a business is new to them. Often they find that the mistakes they have made could have been avoided had they been armed with the sound advice and resources of those with experience of start-ups. “A lot of people when they are just starting up have a good idea but don’t necessarily have the broad business background to support and grow it,” says Andrew Dolliver, EY Director in Transaction Advisory Services. “What EY can bring as a full service firm is the help start-ups need to get off the ground. We ensure they have the right structure and support to take advantage of incentives such as talent acquisition, sourcing capital, tax credits etc. This is key to getting things right at the start. “Capital raising can be critical – a good idea needs capital to get started and being able to access equity and debt capital is also highly important. Often with a good idea you are not able to go straight to a bank and get all of the funding that you need – it requires a different structure and source.” Jonathan Forde, also an EY Director in Transaction Advisory Services says: “There are funds specifically geared towards each phase of a company’s development from early stage companies to larger more mature businesses. We often help companies review capital structures and seek appropriate funding to support their strategy, whether it is debt or equity funding. “We have the extraordinary honour of
40 NI Chamber
working with some of Northern Ireland’s leading entrepreneurs and family businesses and throughout their life cycle help them grow by staying with them as their business advisers. Although the challenges facing companies are different at every stage of their life cycle, we seek to support our clients through the provision of a range of services. From a transaction perspective this can mean providing fundraising, acquisition or business sale advice, which can be critical milestones for a business. Many of our clients qualify for R&D tax credits and some don’t even realise it. Our involvement will depend on the client needs. “For example, businesses have to face market forces, including uncertainties which are associated with Brexit. “We have been helping companies with scenario planning around what EU tariffs may or may not look like after Brexit and issues around diversification of new markets, labour and people skills. However, there are plenty
of opportunities for businesses such as being on the right side of the drop in the value of sterling. “Businesses can’t stand still and entrepreneurs typically don’t.” When it comes to helping entrepreneurs, EY has an unrivalled pedigree and the firm’s EY Entrepreneur Of The Year (EOY) is without doubt the most prized title in the world of business. EY truly understand that entrepreneurs are the lifeblood of our economy. They create jobs and wealth, bring new innovative products and concepts to the market and encourage creativity and competition. EY’s EOY programme celebrates those men and women who are building and leading successful, growing and dynamic businesses by acknowledging their success, the contribution they’re making to the economy and the legacy they’re building. The global programme stretches across more than 145 cities in over 60 countries.