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April

MGI World

“And now word from our sponsors…”

15th April 2013

MGI World MGI Worldwide UK & Ireland Area news item, folded newspapers image

We are always very grateful to the sponsors of our UK&I conference for their valuable support, as well as the assistance they are able to offer to member firms on a wide range of issues. As a follow-up, we have invited three sponsors from last year’s conference – Croner, Bluefin and Ludgate Finance – to tell us a bit about what they do and how they can help MGI members.

The challenges of academy school conversion

More schools are taking the leap to academy status. As much as they enjoy the greater autonomy that this brings, they also have to take on board a host of additional responsibilities.

Croner, experts in HR, health and safety, and legal compliance, guide you through some of the key issues facing academies, so that you can be confident that MGI members have the latest information on this potentially thorny subject when advising clients in this sector.

Please click here for full article

Is the accountancy PII landscape changing?

The Professional Indemnity Insurance (PII) market for accountancy firms remains very competitive with insurers and brokers desperate for your business. As a result of this competition, for years accountancy PII has been very much a buyers’ market with improved rates and prices always available.

However, this could all be about to change following news that, as of 1 April, Aviva has stopped writing professional indemnity insurance (PII) for small to medium-sized businesses, instead focusing on insuring corporate clients and companies with fees of more than £10 million a year.

Bluefin Professions’ affinity with MGI means that, in addition to your own PII, you can refer any clients or contacts to us for a free, no-obligation PII quotation. While we have a strong involvement with the accountancy profession, we are also able to offer free independent advice to any professional firm, including solicitors, surveyors, estate agents, IT consultants, insurance brokers, architects, IFAs and insolvency practitioners. A financial introducer’s fee is paid to MGI for each successful referral.

Referrals can be made by contacting Jamie Arthur on 0121 647 5125 or Phil Craske on 0117 908 4083.

Finding answers to finance problems

Ludgate Finance is a bespoke business finance consultancy company based in the West Midlands, providing solutions for lenders, advisers and borrowers. We have already worked with MGI members to help them deliver the results their clients were looking for.

Ludgate Finance was referred to one of Seymour Taylor’s clients who was looking to raise finance in a four-week timeframe just after Christmas due to a working capital shortfall. The bank had declined to assist, after a review of the business, we concluded that a loan of £250,000 repayable over five years would be most appropriate. A loan application was listed on the Thincats website over Christmas with bids being received on Christmas Day and fully funded by 27 December.

HB&O introduced us to a logistics business with working capital issues seeking ongoing support while new contracts were obtained. Having reviewed the business, we were able to raise a loan of £150,000 enabling the business to move forward with some confidence, underpinned by the new work that had been won and would develop.

Both deals were done in tight timescales.

For further information, please contact Richard Mason on 0845 071 0854.