FLM Business Owner Summit
Updated: Sep 10, 2019
Last Wednesday night FLM hosted the inaugural FLM Business Owners Summit at Gaucho Tower Bridge sponsored by Argentex. A fantastic evening ensued which brought together a number of prospective and existing clients who own businesses to hear from some great speakers, network and obviously to enjoy a bit of food and wine!
We had business owners from a wide range of industries including banks, solicitors, mergers & acquisitions, accountants, construction, marketing, recruitment, foreign exchange, education, media, healthcare, furniture, insurance, car dealership all the way through to vegan condoms! In short there weren’t many problems we couldn’t solve within the room.
Our guests heard from FLM’s CEO Dave Allard about the positives to be found in the UK economy (ignoring the ever looming B word):
The UK has twice as much AI activity as Germany and France put together.
The UK ranks 3rd in the world for creating fast growing tech companies.
London is the second most successful tech centre in the world.
We are the world leaders in wellbeing and mental health in the workplace.
We are also miles ahead of the rest of the G7 in carbon reduction – 42% over the last 16 years compared to an average of 3%.
He also spoke about his approach to building a successful company; having happy clients, happy staff and achieving growth targets.
The audience was then provided with our advisers Top Tax Tips for Business Owners. It is always important to seek advice on these as part of your overall planning strategy and without giving all the detail away these included but were not limited to:
Using a spouses lower tax rate.
Enterprise Investment Schemes (EIS) and Venture Capital Trusts (VCT).
Keeping cash in the company to a later date.
Some interesting options were highlighted around cash management if it was being kept in the business such as the Flagstone Portal which allows a business to manage cash across a panel of 20 banks ensuring there is 100% FSCS cover and that interest rates are being maximised.
Our final speaker, Bruce McFarlane of MMC Ventures, spoke about the pattern of VC funding in the UK and how we compare globally, highlighting the fact that the UK is the 3rd largest market for unicorn companies in the world and the largest in Europe! He spoke about the impact that the EIS and VCT schemes have had on the UK economy and highlighted some of the major success stories such as Gousto, Masabi and Bloom & Wild.
Overall it was an informative and enjoyable evening that we will look to grow every year. If you are a business owner and would like to be involved, please don’t hesitate to get in touch!