-
Financial administration
An accurate financial administration provides you with the information you need to take the right decisions. The big advantage of a digital financial administration is that it provides insight into your most important financial processes at any time, whether this is the invoices, salary payments or bank changes.
-
Financial insight
You want to take the right decisions, based on trustworthy and clear management information. You want to have access to all your financial data, 24/7, in order to determine your position and be able to adjust where necessary.
-
Global compliance partnering
Outsourced compliance services comprises the total financial compliance of your business, in accounting, financial reporting, payroll, legal and various tax reporting obligations. We can make sure you don’t have to worry.
-
Business risk services
Minimize risk, maximize predictability, and execution Good insights help you look further ahead and adapt faster. Whether you require outsourced or co-procured internal audit services and expertise to address a specific technology, cyber or regulatory challenge, we provide a turnkey and reliable solution.
-
Corporate finance
Finding a suitable match at the most optimum terms. That, in a nutshell, aptly describes the objective of mergers and acquisitions. To most businesses mergers or acquisitions are not standard daily practice. It is, however, for the professionals at Grant Thornton! Seeking their services will add value instantly.
-
Cyber risk services
What should I be doing first if my data has been kidnapped? Have I taken the right precautions for protecting my data or am I putting too much effort into just one of the risks? And how do I quickly detect intruders on my network? Good questions! We help you to answer these questions.
-
Impact House
Building sustainability and social impact. That sounds good. But how do you go about it in the complex world of stakeholders, regulations and frameworks and changing demands from clients and society? How do you deal with important issues such as climate change and biodiversity loss?
-
Transaction services
What will the net proceeds be after the sale? How do I optimise the selling price of my business or the price of one of my business activities? How do I capitalise on synergies following an acquisition? Am I not offering too much? These are all good questions when you’re buying or selling a business. It’s a transaction that concerns significant amounts, impacts your future, and therefore must be executed properly. We provide a solid foundation for your decisions.
-
Valuation, investigation & dispute services
Do you require a fact finding investigation to help assess irregularities? Is it necessary to ascertain facts for litigation purposes?
-
Auditing of annual accounts
You are answerable to others, such as shareholders and other stakeholders, with regard to your financial affairs. Financial information must therefore be reliable. What is more, you want to know how far you are progressing towards achieving your goals and what risks may apply.
-
IFRS services
Financial reporting in accordance with IFRS is a complex matter. Nowadays, an increasing number of international companies are becoming aware of the rules. But how do you apply them in practice?
-
ISAE & SOC Reporting
Our ISAE & SOC Reporting services provide independent and objective reports on the design, implementation and operational effectiveness of controls at service organizations.
-
Pre-audit services
Pre-audit services is all about making the company’s entire financial administration ready for checking before the external accountant begins his/her audit of the annual accounts.
-
SOx law implementation
The SOx legislation dictates that management is structurally accountable for reporting on the internal control relevant to the financial statements.
-
International corporate tax
The Netherlands’ tax regime is highly dynamic. Rules and the administrative courts raise new challenges in fiscal considerations on a nearly daily basis, both nationally and internationally.
-
VAT advice
VAT is an exceptionally thorny issue, especially in major national and international activities. Filing cross-border returns, registering or making payments requires specialised knowledge. It is crucial to keep that knowledge up-to-date in order to respond to the dynamics of national and international legislation and regulation.
-
Customs
Importing/exporting goods to or from the European Union involves navigating complicated customs formalities. Failure to comply with these requirements usually results in delays. In addition, an excessively high rate of taxation or customs valuation for imports can cost you money.
-
HR services
Do your employees determine the success and growth of your organisation? And are you in need of specialists which you can ask your Human Resources (HR) related questions? Human Resources (HR) related questions? Our HR specialists will assist you in the areas of personnel and payroll administration, labour law and taxation relating to your personnel. We provide you with high-quality personnel and payroll administration, good HR guidance and the right (international) advice as standard. All this, of course, with a focus on the human dimension.
-
Innovation & grants
Anyone who runs their own business sets themselves apart from the rest. Anyone who dares stick their neck out distinguishes themselves even more. That can be rather lucrative.
-
Tax technology
Driven by tax technology, we help you with your (most important) tax risks. Identify and manage your risks and become in control!
-
Transfer pricing
The increased attention for transfer pricing places greater demands on the internal organisation and on reporting.
-
Sustainable tax
In this rapidly changing world, it is increasingly important to consider environmental impact (in accordance with ESG), instead of limiting considerations to financial incentives. Multinational companies should review and potentially reconsider their tax strategy due to the constantly evolving social standards
-
Pillar Two
On 1 January 2024 the European Union will introduce a new tax law named “Pillar Two”. These new regulations will be applicable to groups with a turnover of more than EUR 750 million.
-
Cryptocurrency and digital assets
In the past decade, the utilization of blockchain and its adoption of a distributed ledger have proven their capacity to revolutionize the financial sector, inspiring numerous initiatives from businesses and entrepreneurs.
-
Expand into new markets
Do you seek for opportunities in the global business arena? Whether you are about to open a new office in a foreign country or considering an international acquisition, you need certainty of making the right choices for your company. Global expansion isn’t always as simple as it sounds. The good thing is that we’re here to help!
-
Expanding your business in the Netherlands
International expansion is an important step. The Netherlands can be your gateway to Europe for doing business abroad. But why you should choose the Netherlands?
-
Global contacts
Wherever you choose to do business, you want access to people with the best ideas and critical thinking that will enable you to grow your business at home and abroad.
-
Corporate Law
From the general terms and conditions to the legal strategy, these matters need to be watertight. This provides assurance, and therefore peace of mind and room for growth. We will be pro-active and pragmatic in thinking along with you. We always like to look ahead and go the extra mile.
-
Employment Law
Small company or large multinational: in any company your people are of the utmost importance for your business. Employment brings with it many issues in many areas and often has legal consequences. For big strategic, but also for more everyday questions about employment law, our lawyers are ready to help you out. Also for questions about international employment law. Do you have your own HR department? We’ll gladly assist them. We deliver bespoke services and are there when you need us.
-
Specialist Areas
Besides our focus on corporate and employment law, we also advise entrepreneurs on a range of (specialist) legal issues. A corporate acquisition, your company administration, complex question in the field of healthcare issues: you have come to the right place.
-
Maritime sector
How can you continue to be a global leader? The Netherlands depends on innovation. It is our high-quality knowledge which leads the maritime sector to be of world class.
-
Growth in an international network
At Grant Thornton, you will benefit from the expertise and quality of colleagues around the world who will benefit your knowledge, advice and growth.
-
Varied customer portfolio
The customer package at Grant Thornton varies from (large) SME customers to (small) corporate customers. From local customers to customers from the international network of Grant Thornton International Ltd. All this diversity in customers can also be recognized in your customer package.
-
Culture
At Grant Thornton we combine a solid base with a flexible and results-driven mentality.
In the immediate aftermath of COVID-19, businesses looked to improve their cash flow management and focus on day-to-day survival, leaning heavily on government support packages. But longer-term, businesses will need greater liquidity as they move to financial self-sufficiency after governments scale back support. They will need to invest in adjusting to the changes, to sustain operations and stay competitive. Raising finance to do so will be essential.
According to Grant Thornton's latest IBR data, 26.1% of mid-market businesses have spoken to or planned to talk to lenders about new credit, while 23.4% of global respondents said they'd either sought financial support from investors or are planning to seek support. Significantly, 46% of businesses identified a shortage of finance as a constraint on growth, up markedly from 37% in H2 2019.
Despite these concerns, there are pools of finance available for well-run businesses. Unlike the global financial crisis of 2008, there are many institutions currently sitting on cash.
Paul Gooley, partner and national head of corporate finance, at Grant Thornton Australia, says: "From an investors perspective, people need to put their money somewhere. Return figures in banks are negligible; the cash market is like putting money under the bed. So private equity and debt funds offer yields above inflation, there are pools of money that are looking for returns."
Continually assess what future liquidity you might need
Governments have generally supported businesses financially throughout the crisis. Tony Markwell, national managing partner private advisory at Grant Thornton Australia, says: "A lot of governments have given employers money to keep people on their books and that means a lot of businesses are reasonably liquid."
The issue for many, however, will be when those support packages retreat and when businesses need to start making investments; upgrades and fundamental changes to their business models to adjust to the new operational environment. Markwell says: "You need to have a good look at your liquidity, is it sufficient to get you through another wave, lockdown or a slowdown?"
Pallavi Bakhru, chartered accountant at Grant Thornton India in New Delhi, says: "People want to hold onto their cash. In fact, in India, people have gone and raised more money through rights issues from shareholders. They've gone and got more limits sanctioned, not they've necessarily drawn on them, but they want the comfort of knowing that if needed, if business demands, this line of credit is available to them."
Businesses are looking at money for many different reasons, "Some are looking for money for R&D and technology. And some are just looking for basic working capital because they've got their money stuck in debtors, the money's not coming from their customers, or if they need to kickstart production, they need working capital. So there is a money requirement for different gestation periods."
Understand what banks are looking for
Banks are being supportive of their existing clients, but most are tightening new lending conditions. Gooley says: "It's one thing to provide waivers of covenants or an extension on facility due dates, but it's another if bank clients need new money. Banks will go risk-off, and the amount of capital that banks provide will reduce. The willingness of banks to provide cash flow lending is likely to disappear."
While conditions for bank lending are tightening, it is still the cheapest option so, as Markwell says, being a good bank customer, has never been more important for businesses. Markwell says: "Banks want to deal with people who are a pleasure to lend to. They don't like businesses that are short on collateral, short of explanations for missing budget, short of business plans."
"Having a banker who understands your business, knows where you're going, knows your critical reasons for being and what your business model is about is key. They love lending to people who are in control, who do what they say they're going to do, and who can articulate their plan."
Consider the range of alternative finance options
In the private market, there is a whole range of different providers outside the banks. Gooley says: "If your bank says no, it does not mean you're out of options."
"Private equity is still sitting on dry-powder and some regions are more active than others. There are also credit funds, family office for high-net-worth individuals, neo banks and fintech who have raised capital and who are able to play in that alternative debt market above where traditional banks would play."
"There are large pools of money out there in the hybrid space, high yield debt, or that debt plus little bit of equity kicker, which are available for mid-market companies to access, particularly high-quality ones. They can be a more attractive option than raising further equity, and a lot of companies just aren't aware that that money is out there."
Carlos Ferreira, US national managing partner for private equity, Grant Thornton, says: "Tech-enabled businesses, especially those in the US and target markets as diverse as Israel and Brazil, that are addressing cybersecurity for remote working, online training and education, telehealth, e-commerce, pharmaceuticals, food-tech and distribution and delivery, are all on the radar of private equity houses.
"These businesses are thriving, and alongside their private equity backers are looking for opportunities to reinvest through leverage while interest rates are low."
Prepare balance sheets and have a good future story to tell
Preparation is key to raising finance, but successful applicants will also have a compelling vision for growth in a new business environment.
Gooley says: "It will be a race as to who has the best story and who has the best business case. We're encouraging people to get ready and make sure you have a well-articulated story, particularly on what does it look like in the next couple of years as you come out of COVID.
There will be opportunities to fund across the market, and these providers will have the choice as to where to put their money. Being prepared for that and seeing how the market will level out for you – and how you will service the debt you're going to ask for – will be critical."
Businesses that are working on their resilience and recovery plans are identifying the market opportunities and their accompanying investment requirement. Smart businesses are moving ahead of the pack by getting their balance sheets ready to take advantage of the situation. Having a robust story about how you are going to adapt to the new paradigms and where the demand is going to be will help you stand apart.
Finance can be a lubricant for business – it ensures all the parts run smoothly and in harmony to drive it forward. Getting the right liquidity for your business’s future is essential to ensuring to staying on track and ahead of the competition.
Speak to a local Grant Thornton adviser to help you prepare your business to raise finance or sign-up below to get our latest insights direct to your inbox.