EFM have been working hard to ensure that our clients and partners across the UK and Ireland remain tough and resilient, keeping their finances strong and futures secure, to help survive this forever changing landscape.
We wanted to share with you just some of the activities and updates that have helped our clients endure the Covid troubles and kept EFMs position strong.
EFM Grant & Loan Support Projects
The EFM Ireland team were successful in securing positions with Enterprise Ireland and the Local Enterprise Offices network, to work with over 25 new SME’s across Ireland, supporting the businesses with their survival planning, financial planning and strategic growth objectives.
Thanks to the Enterprise Ireland & LEO grants made available to the Irish business owners, the grants help the companies afford an EFM Finance Director to assist them putting together plans and forecasts. These can help maximise their chances of obtaining Covid funding offered by the Irish Government and Banks where appropriate.
In the UK, EFM has helped support over 50 companies with CBILS and Bounce Back Loans applications throughout lockdown. One of our Associates was successful in securing £683,000 for 4 of his clients.
Creating agility and flexibility whilst saving costs
Due to the current climate, business owners across the UK and Ireland, have had to make huge staff cuts and potentially sacrifice the people skills required to keep their businesses afloat. When you’re trying to save every ounce of cash in the business, and business volumes are decreasing, full-time staffing is not always the right way to go and not always the best way to hire talent in a rapidly evolving world.
By choosing a part-time financial management expert to enter the business, you’re paying for what you truly need when you need it, allowing you the time to focus on the core functions of the business, confident in the knowledge that critical finance activity is in expert hands.
A good example of this is how EFM recently supported a £3m revenue services company, with their finance requirements to help improve their overall standing and save on budget as much as possible to ensure survival throughout the Covid pandemic. By replacing their full-time Head of Finance with one of our part-time Finance Directors, we managed to save the company up to £5k per month in salary costs.
EFM Network shows significant growth
The central team have recorded a spike in the interest of finance professionals wanting to find out more about EFM and the lifestyle of a Portfolio Finance Director/Controller. Thanks to our virtual approach, we’re able to run our introduction and onboarding sessions. Over the last 4 months, we have welcomed 7 new associates (with 4 others to join soon) and one full time member of staff into our expanding network and are still receiving interest from potentials.
Get in touch
If you would like to find out more about how EFMs bespoke, part-time financial management services can benefit your business or see how you could support SMEs as an Associate Portfolio FD or FC, please contact the EFM team via [email protected] or call 01582 516300.