Essential Financial Guide for SME’s in South Wales 2024

The business landscape of Wales illustrates a dynamic and diverse economic environment. With approximately 253,800 active enterprises, Wales employs around 1.1 million individuals and generates a combined annual turnover of £116.4 billion. The vast majority of these are small and medium-sized enterprises (SMEs), accounting for 99.3% of all businesses in the region. This guide “Essential Financial Guide for SME’s in South Wales 2024” aims to equip small business owners in South Wales with the necessary financial insights and strategies for navigating this complex and varied economic landscape. From optimising corporate structures for tax efficiency to understanding cash flow management, and setting up comprehensive pension schemes for employees.

With special insights from local business owners, Garry Woods, Owner – Phoenix Partitioning and Poppy Mansfield, Owner – BitterSweet Promotion.

The guide covers: 

  • An Overview of Businesses in Wales
  • Challenges & Opportunities of the Welsh Economy
  • Optimising Corporate Structure for Tax Efficiency
  • Setting Up Pensions for You & Your Staff
  • Comprehensive Insurance Strategies
  • Succession Planning
  • Financial Education Perfect for enhancing your business strategy and securing your company’s future

Download your free copy today. 

THIS ARTICLE IS FOR GENERAL INFORMATION ONLY AND DOES NOT CONSTITUTEADVICE. THE INFORMATION IS AIMED AT RETAIL CLIENTS ONLY. PLEASE DO NOTACT BASED ON ANYTHING YOU MIGHT READ IN THIS ARTICLE. FOR PERSONALISEDADVICE OR FURTHER INFORMATION, PLEASE CONTACT US DIRECTLY.

Maintaining the financial health of a business in Wales, involves more than managing day-to-day cash flow; it requires strategic management of assets, liabilities, and investments. It is advisable to engage with a professional advisory firm as this partnership can help pinpoint potential vulnerabilities and aid in crafting a tailored plan that enhances your businesses financial stability. The strategies put in place not only protect your cash flow and reputation, but also bolster overall risk management and financial planning, ensuring your business can thrive in the face of challenges. Beesure’s comprehensive services support business owners in leveraging these insights for success. Our free initial consultation offers holistic guidance on protection and financial strategies for owners, directors, and employees, setting the foundation for a successful business, exit plan and/or long-term prosperity. Get in touch with Beesure today to receive professional advice on your clinic’s financial future.

References: Essential Financial Guide for SME’s in South Wales 2024

Welsh Gov: Size Analysis of Active Businesses in Wales, 2022

ONS: Small and medium enterprises in Wales

Insider Media: Welsh businesses ‘continuing to face challenges’

The Open University: Welsh businesses share challenges at Cardiff roundtable

National Institute of Economic and Social Research: The Outlook for the Welsh Economy

Busines Wales: Finance and Grants

Development Bank of Wales

Senedd Research: Rising Prices and Serious Shortages

Welsh Gov: Corporation Tax Rates

Company Bug: How many limited companies are there in the UK?

ABI: Business Insurance

ABI: Key Stats 2022

Money: UK Business Insurance Statistics 2023

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