The retail sector has seen the biggest changes in the past few years with consumers having the choice of shopping online or visiting a shop on the high street. Whether your business has a physical or an online presence, Fulham based charted accountants Warrener Stewart is ideally placed to help you develop your business.
Working alongside you, our expert team of advisors can help your retail business in a number of ways from developing a viable business model, to implementing important systems and procedures designed to avoid inventory discrepancies and monitor cash flow.
Through our work with several successful London retailers including iconic multinational fashion brand, Orlebar Brown, we appreciate the need to create and develop a successful brand. We will look beyond the numbers and analyse your business potential, helping to mitigate many of the risks that a retail business faces. Above all we recognise the value in a brand and that success in today’s retail market relies heavily on building the right brand image through investment.
Looking after your staff
As a service industry the retail business relies heavily on people – your staff are your most important asset, especially for small retailers. Warrener Stewart not only provides practical support in terms of payroll services, we know that implementing a staff incentive scheme such as an EMI (Employee Management Incentive scheme), even for just one or two key employees, will boost staff morale and help to retain key individuals.
Once your retail business is established, or you wish to diversify, breaking into new markets – be they overseas or moving from online to the high street or vice versa, Warrener Stewart can offer invaluable business advice, by drawing on our knowledge of helping similar retail businesses. We will assess and analyse your growth potential, including considering footfall, appreciating your position within the marketplace and on the high street. We will also outline any funding options that you may need to help with your retail expansion.
Audit Services & Tax Planning
As well as offering general accountancy and audit support, our team of chartered tax advisors can provide essential advice on tax planning by outlining a strategy that is right for your retail business. We equally appreciate that for some retailers who are trading overseas or importing goods across borders that this can incur large upfront charges and needs careful cash flow forecasting. From the outset we will install a system which takes into account the highs and lows that your business has to cope with.
Over the years Warrener Stewart has found that many retail businesses face similar challenges, here are just of few of the services that Warrener Stewart could help you with:
- Maximising your profits and minimising costs
- Cash flow management
- Developing staff incentive programmes
- Strategic business advice to develop the business
- Advice on cross border transactions
- Auditing annual accounts
- Tax planning
- Advising on the most efficient business structure