Azets & SFA partner on event to help small businesses plan for growth

Small firms are the backbone of the Irish economy, making up nearly 98% of all businesses in the country and driving growth and employment across the country from Bundoran to Bunclody. With an economy that continues to grow, these firms have considerable opportunity to expand their businesses in the months to come. Yet the future for many small firms is not entirely straightforward, with rising costs, a tight labour market and forthcoming changes in taxation and reporting mechanisms creating potential headwinds.

It is essential that businesses prepare for these changes to thrive into the future and maximise value. Small businesses in all sectors are facing new reporting regulations regarding payments made to employees and directors from January 1st while auto enrolment will require many small businesses to make significant changes in managing pension schemes. Cashflow planning will also be critical for small firms in 2024, with the end of the pandemic debt warehousing scheme requiring firms to set timelines for the repayment of accrued debt. With potential increases in the minimum wage, small firms could be under greater cost pressures and face important decisions in their strategy for attracting and retaining talent.

To support small businesses in taking the practical steps necessary to prepare for these changes, we’re bringing together business leaders across Ireland to the Azets SFA #AchievingAmbition event on September 21 at the IBEC headquarters in Dublin. Attendees will hear from small firms advisers, business owners and economic experts on the steps they can take to unlock the value of their business in 2024.

Neil Hughes, CEO of Azets Ireland, the professional services firm that specialises in supporting the needs of mid-market, entrepreneurial, owner-managed, and family-owned businesses, will share his insights in a fireside conversation on the core challenges facing businesses from increased VAT in the hospitality sector, to the warehousing of tax debt, and the options available to businesses to successfully manage these.

It is critical that businesses manage tax and regulatory change effectively to continue growing in 2024. In a panel discussion, Head of Tax at Azets, Alma O’Brien, will offer advice on avoiding potential pitfalls in coping with new tax changes and regulatory obstacles that SMEs are facing and strategies for cost-effective compliance. Optimising tax reliefs will be another important area of discussion that can support unlocking business value. Caroline Horgan, CEO of Abbeylands Furniture, will share the perspective of a small business owner on the steps her business is taking to prepare for these changes.

The event will also feature an open Q&A session for small firms with Azets’ expert tax and business advisors to get the trusted council they need to take their business to the next level. With many of these changes fast approaching, businesses need to plan and act now to unlock their growth potential for the year ahead.

To learn more about the event and sign up today, check out the event page on the link below.

Still have questions? Please contact David Broderick at david.broderick@sfa.ie