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Financial management: how to run a profitable business

06 June 18:00 - 20:30
Organized by: RIBA London
RIBA
Portland Place
W1B 1AD

What are the key considerations that architects should be aware of when looking to run a successful, profitable practice? It goes without saying that exceeding clients’ expectations is a key contributor to a successful practice, but it can often lead to architects working ‘in’ the business as opposed to ‘on’ the business. In uncertain times, it is more important than ever to have an understanding of pipeline, resource management, cash management and the current market. This session will provide delegates with a clear understanding of the tools available to ensure that practices are run effectively, and crucially, operate at a profit. Using working examples and real-life scenarios, the following topics will be covered:

Business planning The importance of forecasting and its practical use Effective record keeping Cash flow; managing cash flow and useful tips on how to improve it Raising finance; Where to access it and how to raise it Reducing your business’ tax liability; what tax reliefs are available, and ways of claiming

A portion of this session will be dedicated to discussing live, working examples of challenges faced by you within your own practice, in order to make the session as useful and relevant as possible.

 

You will leave equipped with financial management tips and techniques that can be readily applied, and will discover new ways to contribute to the success and profitability of your practice.

 

Speaker: Ian McBane, Moore Stephens

Ian specialises in providing outsourced accounting services and advice to a wide range of clients spanning the professional practices sector, including architects and partnerships. Ian is passionate about the use of cloud accounting and the benefits this technology can bring to his clients. He has considerable experience in providing back office accounting and reporting solutions, particularly within an international group environment, and assists clients to implement their global expansion plans. He currently acts for multiple owner managed businesses and UK subsidiaries of overseas groups situated in Europe and the USA, including listed entities.

 

and

 

Speaker: Ross Northall, Moore Stephens

Ross specialises in advising companies and individuals in a commercial manner in a variety of sectors including property and construction manufacturing, internet and technology. He advises on matters such as company reorganisations, acquisitions and disposals, and profit extraction strategies. Ross also has a wealth of experience in providing advice to clients on research and development tax reliefs, capital allowances, international taxes, share option schemes, and tax efficient investment structures.

 

Core Curriculum topics: 1. Internal management 2. External management