Business consulting services
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.
Forensic and investigation services
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.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
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.
Gillian Saunders calls on businesses to insulate themselves against global trends
Business growth indicators in the hospitality and tourism sector took a bit of a nosedive globally in Q1 according to our International Business Report (IBR). Expectations for increasing revenues, profits and investment all fell over the past three months. This surprised me slightly; after all, the global economy is picking up, the recovery seems to be moving onto a more sustainable footing and discretionary spend should follow. Why therefore are hospitality and tourism businesses not more positive?
Well, for one thing, the global recovery still has some way to run according to businesses in the hospitality and tourism sector: 48% cite economic uncertainty as a constraint on growth over the next 12 months, ten percentage points higher than the all-sector average. While the past few months have been better for developed markets – particularly the US and Europe – many emerging markets have taken a bit of a pummelling. Elections in India and Indonesia, social unrest in Latin America and Thailand, sharply slowing growth in South Africa and Turkey and fears over levels of local government debt in China are all clouding the economic outlook. Flush with new wealth, burgeoning middle classes in these markets are becoming increasingly important consumers of global tourism, so any slowdown in growth and spending patterns is likely to have a global impact.
The other issue businesses in the sector foresee is the pressure of rising energy costs; 45% expect this to constrain growth over the year ahead, again a full ten percentage points above the all-sector average. Social unrest in North Africa and the Middle East has not yet translated into hugely inflated energy prices, partly because the shale revolution in the US has made its economy virtually self-sufficient, helping to keep a lid on global prices. But businesses in the sector, from hotels and restaurants to golf courses and cruise liners, are all relatively large consumers of energy. Even minor shifts can have a big impacts on the bottom line. And when you consider that the interviews were conducted before the Ukraine crisis erupted up, the cost of energy is an issue I am going to keep my eye on.
Given that uncertainty and energy costs are largely driven by global phenomena, offering tangible advice to businesses is complex. But there are steps businesses can take to mitigate these issues. In the current climate I would suggest revisiting your marketing and investment strategies to make sure they are not too focused on emerging market opportunities, while neglecting those in Europe and North America. And this could also be a good time to invest in adopting energy efficiency measures, or perhaps consider more sustainable sources of power such as installing solar panels.
Insulating your business against global economic trends may demand resources in the short-term. But in the longer term it could provide you with a competitive edge..