Gary Deans, KPMG family business practice
Gary specialised in tax matters throughout his career, advising on personal and corporate tax issues. As Head of Family Business for KPMG in the UK, Gary leads a national team focusing on advising family businesses and their stakeholders. He is also a frequent speaker at family business events and conferences. He is a member of the Advisory Council of the Institute for Family Business, and of Oxfam Scotlands Advisory Board.
With the economy picking up, and many family businesses in the construction sector looking to take their next steps, it is essential for growth that they consider the following key points:
In order to develop it is important to create clear growth plans and understand how to deliver on them. As like all businesses, family businesses in the construction industry vary in their key goals. Some are interested in finding a partner to deliver significant extra firepower through a joint venture, and of course there is always the option of a sale if this complements changing family dynamics.
Accessing growth capital is a complex matter, and can be even more challenging for family businesses in construction due to the tendency to maintain control, which can limit options. Its important to understand what an investor or funder will seek, to be clear on what is acceptable to you and the business and, with this in mind, to position yourself attractively to secure the investment or funding sought.
Investors look for growth to fund their return. You will find that what varies is their attitude to risk, and whether that return is sought in the short, medium or long term. Communicating how the money is to be used and a clear plan for how growth will be achieved is vital to maximising your chances to secure funding.
The main cultural obstacle that I see for many family businesses within construction is the need to open itself up to external oversight from an investor. Requirements will vary from relatively basic financial information, to a place on the board and an active role in the running of the business. It is important to evaluate the investors likely requests with an open mind; after all they can bring new insights, experience and contacts – which can help a business grow.
**download the KPMG report on Financing Family Business growth through individual investors
Delta Membranes have explored the wide choice of structural waterproofing materials available in the market and how it can be difficult to determine the best option for a project.Posted in Articles, Building Industry News, Building Products & Structures, Building Regulations & Accreditations, Building Services, Damp & Waterproofing, Membranes, Posts, Research & Materials Testing, Walls
The Maritime Transport Limited new £5 million headquarters in Felixstowe has seen Hauraton drainage channels used in its car park.Posted in Articles, Building Industry News, Building Products & Structures, Case Studies, Civil Engineering, Drainage, Guttering, Soffits & Fascias, Posts, Retrofit & Renovation
Lakes, the leading manufacturer of showering spaces, has kick-started 2019 with the introduction of a refreshed ‘Designed for Life’ brochure.Posted in Articles, Bathrooms & Toilets, Bathrooms, Bedrooms & Washrooms, Building Industry News, Building Products & Structures, Innovations & New Products, Interiors, news, Plumbing, Posts, Publications
Continuing to drive innovation in laboratory drainage solutions, Vulcathene Chemical Drainage (from Durapipe) has launched a new Adjustable Anti-Siphon Trap.Posted in Articles, Building Industry News, Building Products & Structures, Building Services, Drainage, Drainage Services, Drainage, Guttering, Soffits & Fascias, Innovations & New Products, Pipes, Pipes & Fittings, Plumbing, Posts, Waste Management & Recycling