Boosting the balance sheet in your food and beverage business – exclusive preview
The food and beverage (F&B) sector contributes an estimated £28.2 billion in value and 400,000 jobs to the UK economy directly. A further £100 billion in value and 4 million jobs are provided from the supply chain. The importance of the sector to the UK cannot be understated.
The F&B sector also provides a global showcase for the best of British branding and creativity. From household names such as Mr Kipling and Sharwood’s, to relatively new entrants like The Saucy Fish Co and Brewdog that are taking the world by storm.
All these successes should be celebrated, but we cannot be complacent. There’s no denying that the sector faces significant emerging economic and regulatory uncertainty. The as yet undetermined impact of Brexit is a key driver, of course. Developments in technology are also playing an important role, while changing consumer habits and tastes are driving rapid change and creating room for new players to disrupt.
It is with these external changes in mind that we have published a new report, Boosting the balance sheet in your food and beverage business (PDF) [ 424 kb ]. This report looks at how food and drink businesses can unlock cash in their businesses to prepare financially for the potential challenges and opportunities ahead.
In the report we estimate there’s a further £7.3 billion of cash that F&B companies across the UK could access by improving their management of working capital. The benefits of doing so include cost reduction, better access to finance and greater flexibility when investing for growth.
The report also looks at how many F&B businesses are not fully aware of the opportunities open to them through R&D tax relief. Whether it’s improving the understanding of what qualifies as R&D, or putting processes in place to ensure a systematic approach to applying for relief, we discuss how firms can maximise these opportunities.
We’re looking forward to sharing this report with you and we hope you find it insightful. For more information, please contact Trefor Griffith.
Report on unlocking working capital and unclaimed R&D tax relief in food and beverage businesses
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