"Managing Growth" the magazine of PC World Business, and available in all branches, has featured The Corporate Finance Network in its latest edition
http://www.pcworld.co.uk/managinggrowth/ The article, entitled "Helping Hand" can be found in the Spring Summer 2008 edition.
If your SME is seeking investment or alliances, or wants to buy or sell part of its business, it's worth having a chat with the Corporate Finance Network, By Foluke Akinlose
What is the CFN?
The Corporate Finance Network (CFN), which launched in October last year, is a body of professional corporate finance experts that aims to help SMEs and owner-managed businesses to raise private equity, make growth alliances or acquisitions, or maximise shareholder value on the sale of a business.
Why was it launched?
Having worked in corporate finance for 10 years, CFN chair and founder Kirsty McGregor felt that, while there were large accountancy firms with established corporate finance departments offering fundraising services and advising on buying or selling businesses, they only dealt with large transactions of at least £3 million. "For all smaller deals, the advice was very hit and miss," McGregor says, "and business owners couldn't refer to any established brand to be sure they were going to get a high level of advice, but at a reasonable fee."
What role does it play?
The network supports medium-sized independent accountancy firms and business advisors by providing a technical back-up for fundraising, due diligence, M&A and business sales. It also has niche specialists for more unusual transactions and a wealth of national and international contacts to share research, experience and sector knowledge. The CFN's national branding and profile also allows firms to market their services on a wider basis.
Who's involved?
The CFN has 12 member accountancy firms across the UK and each operates in an exclusive area. The executive team, led by McGregor, are corporate members of the corporate finance faculty of the Institute of Chartered Accountants in England & Wales. The network also has an affiliation with MGI, an international accountancy body.
What does the future hold?
McGregor hopes to double the current number of member accountancy firms to 25 to give the network full UK coverage. "Our firms are continuing to develop their own service range, ensuring that all their clients have the most appropriate fundraising structure, growth plans - which may include acquiring other businesses - or exit plans for the sale of their business," says McGregor. "We have seen an increase the amount of cross-border transactions and we intend to further develop our international contacts at MGI to capitalise on these potential opportunities."
What's in it for SMEs?
"If they use an advisor who is a CFN member, not only will they receive the highest level of accountancy, tax and general business advice, but also an additional level of expertise that most smaller accountancy firms can't provide," says McGregor. She says SMEs can also be assured that the advice will be given in a manner - and at a fee level - that suits them. "Most SMEs and owner-managed businesses don't have a board of directors to delegate to, so they need an advisor to hold their hand through a myriad of business issues. Many large firms just can't cater for this service."
SEEK ADVICE
CFN members are located across the UK and comprise selected accountancy firms and business advisors that specialise in raising finance for SMEs and in business sales and acquisitions.
"We only appoint firms who have a forward-thinking approach and a potential to grow this specialised service area," says CFN's Kirsty McGregor.
"Our firms will become known for being the expert in their region, for obtaining the most appropriate finance for businesses and for buying and selling companies with a transaction value of less than £3 million."
Members include the chartered accountancy firm Morris Owen, which has offices in Swindon and Cirencester and was a finalist in the 2007 Accountancy Age Awards,[]Visit http://www.corporatefinance.org.uk/ and go to the About Us link to find contact details and partner profiles of member firms near you, or email your queries to info@corporatefinance.org.uk
