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.
What rising youth unemployment means for business growth
Last week, the International Labour Organisation (ILO) released their annual World of Work report. It contains some stark warnings, particularly for mature economies where it does not expect employment levels to return to pre-crisis levels before 2017. Getting people back into work, the report says, will be a “major global challenge” for years to come and the threat of “social unrest” a major risk.
A lack of jobs is being felt most acutely amongst young people. Greece and Spain, where well over half of 15-24 year olds are unemployed, are the two prime examples. Huge swathes of young people are also out of work in Italy (37%) and France (24%). Some of those counted as unemployed are working informally but others have dropped out of the labour force altogether.
And the problem stretches beyond the eurozone. In the US, youth unemployment has crept up from 12% at the beginning of 2008 to over 16% today. The UK has seen an even greater rise from 12% to over 20%. In Australia and Canada, which were less affected by the financial crisis, there have been more modest – but still significant – two percentage points rises over the same time period.
But pushing aside moral and social concerns, why should business leaders be worried? As the report says, executive compensation, share prices and cash stockpiles have been rising.
The answer is productivity. In our recent IBR survey, we asked 3,200 business leaders how important 20 aspects of an economy were to growing their businesses. They said the key issue – ahead of access to credit, economic growth or taxation – is labour productivity.
Unemployment erodes productivity. Key business skills, employability and sometimes motivation fade. Young people are likely to pick up new processes and techniques relatively faster than older peers but if they are inactive in these ‘business formative’ years, the opportunity is lost.
Historically young people struggle more to find jobs, but the current sharp and persistent rise in youth unemployment has led to commentators bemoaning a ‘lost generation’ of scarred workers. In five to ten years’ time when businesses need young, experienced hires to drive the growth of their operations, where will these workers be?
Moreover, political stability is cited as the second most important aspect of an economy for business growth. The Arab Spring perhaps provides the clearest recent example of the government-toppling social unrest that a bored, disenfranchised youth can cause. Growth in Egypt has fallen to around 2% even as the budget deficit balloons to more than 10% of GDP. And the demonstrations continue.
In Germany, where a vocational-education system keeps schooling tied closely to demand, youth unemployment has actually declined since the financial crisis. Greece and Spain, amongst others, are looking to mimic these educational practices but there is some debate as to how much credit the system should take. And in any case, such changes will take years to bear fruit.
The short-term fix is for an end to the uncertainty which is dampening global growth, which should encourage business investment. Only then will the young sitting idly on the streets of Athens and Madrid be able to cheer.