We are your perfect accountancy candidate
Here at Lewis & Co, we know HR consultants are having a busy time at the moment as, on Thursday 10 October, the Government unveiled details of the new Employment Rights Bill. The Government described it as ‘the biggest upgrade to rights at work for a generation’. It covers areas such as unfair dismissal, zero-hours contracts, flexible working, sick pay, unpaid parental leave and bereavement leave, fire and rehire.
If you’re an HR consultant trying to absorb all the changes and don’t have time to think about your own tax, then we’re here for you. We currently work with other HR consultants, so have an understanding of your business.
We also support some recruitment consultants and we know that their business will also be impacted by the new Employment Rights Bill. According to Adrian Marlowe, Chair of ARC (Association of Recruitment Consultancies), there are a number of key points of interest to recruitment businesses. These include the right to claim unfair dismissal becoming a day one right; and measures to end exploitative zero hours.
Here at Lewis & Co, we understand that the income coming into a recruitment consultancy business is not always consistent. We can help recruitment and HR consultants with a business plan and make the accounting side of the business less stressful.
In the case of both recruitment and HR consultants – they might be owner-managed businesses or they might have bought into a nationwide franchise providing these services. As we said in a blog recently, we have worked with a number of franchisees over the years – helping them to secure their particular franchise and supporting them as they build their business.
Franchising can be attractive to entrepreneurs who want to own and operate their own business but want the support and guidance of an established brand. It provides a way for businesses to expand their operations, without the financial and logistical challenges of perhaps opening a new location for themselves.
Starting a new business comes with risks and there are many advantages to buying into a franchise instead. It is your own business, but it comes with a name which the general public might already recognise or has an established pedigree and you’ll usually get support in areas such as marketing.
Recruitment and HR brands which are franchises include the nanny agency, Harmony at Home; the drivers’ agency, Driver Hire; Match Options; Privilege HR; HR Dept; and Our HR People.
Your franchise business will broadly operate just like any other limited company but you will typically have an initial investment to consider and regular franchise fees. We can support you with your accounts, just like any other limited company and be there as you grow.
If you are taking over an existing franchise operation, we can guide you through the initial due diligence, helping you to understand previous years’ accounts and highlight any discrepancies or aspects you might want to question, before signing a franchise agreement. We can also support you in looking at future projections or forecasts for the business and budgets.
If you decide to go ahead with buying the franchise, we can provide you with the accountancy services you need.
If you run an employment or HR business or are considering investing in a franchise, we’d love to hear from you; tel: 01892 513515 or email: info@lewisandco.biz