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Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
Outsourcing Changes to the Outsourcing legislation, specifically when offshoringSignificant changes to the dynamic of the financial services sector in recent years have shifted the paradigms in how we work. The increased digitisation of the workforce, changes in business models, globalisation, and remote working capabilities have led to a new approach to the delivery of services.
Asset management Inflation and tax planningThe recent onset of rapid inflation is an unwelcome development that is having a widespread impact on US businesses and tax planning.
A quarterly global business survey by Grant Thornton finds sinking levels of business optimism stirred up by global political events. The UK, and EU countries most exposed to Brexit, are experiencing the greatest knock in confidence with US companies feeling shaky in the lead up to next week’s presidential election.
New research from Grant Thornton’s International Business Report (IBR), a quarterly survey of 2,600 business executives in 37 economies, reveals a pronounced change in mood over the last quarter in the UK (-19pp), Ireland (-24pp), France (-18pp) and Spain (-19pp), with the EU and the Eurozone both suffering a 7pp decline. In the US, optimism dropped by 1pp, contributing to a significant 11pp fall over the year, while Mexico took a 22pp tumble in the last three months alone. Globally, business optimism stands at net 33%, rising 1pp from the previous quarter but falling 11pp over the year.
Ed Nusbaum, Global CEO of Grant Thornton, says that “Political events like Brexit and the US presidential election understandably rattle the global economy and test the resilience and elasticity of businesses worldwide. In general, businesses do not like uncertainty, and that is what is happening.
A downturn in confidence in the UK closely mirrors the unfolding of Brexit. Before the turn of the year, optimism was riding high at 74%. But then, in the lead up to the vote, it fell away sharply to 40%, reaching its lowest levels since the start of 2013 with news of the result. This is consistent with declining expectations across seven out of eight business indicators. Confidence has been hit across parts of Europe, too, where economies are waking up to a post-Brexit reality.
In the US, lower levels of confidence are also expected to affect performance, with companies anticipating a fall in revenue (-5pp), a decline in investment in plants and machinery (-4pp) and selling prices (-2pp).
Ed Nusbaum highlights that “UK businesses expect their economic fortunes to begin to slow down, with low optimism reflected in expectations of a weaker performance. Only export prospects have risen, up 10pp to 19%, owing to the cheaper pound. The US, which is also going through a politically uncertain time, tells a slightly different story. Export expectations are up just 1pp, while some areas of investment are holding up a little better.”
Globally, fluctuations are marginal across business indicators such as revenue (-1pp), selling prices (-2pp) and profitability (-2pp) but spill-over effects are likely to show in the next quarter. The data already shows a significant increase in economic uncertainty (+6pp) over the last three months, which is now the biggest constraint for businesses worldwide.
Ed Nusbaum explains that “Businesses react to the macro-economic uncertainty, shelving deals, delaying investment decisions and freezing recruitment. The outcomes of political events take time to unfold and we have little choice but to be patient. During the unfolding, however, policymakers must ensure open dialogue with the business community, so that shocks and surprises are kept to a minimum.”
For further information please contact:
Andrew Brosnan, insight and thought leadership manager, Grant Thornton.