AAB Navigates Tech Business Finances

As featured in the June/July 2019 issue of Insider Magazine, AAB is delighted to share details of our dedicated Tech team’s knowledge, experience and recent experience. 

There is a real vibrancy in the technology sector of Scotland. It never stands still and neither do the businesses within it. The rate of change and development is one which is like no other sector which makes it exciting for those operating within it, and also those who help support these businesses to grow and prosper.

For chartered accountancy and business advisory firm Anderson Anderson & Brown LLP (AAB) tech has been a key sector in which they have seen a significant number of client wins, particularly in the Central Belt. In response to this increase in client demand, AAB created a specialist in-house team of advisors who have significant experience of working with tech businesses and in-depth sector knowledge as a result. This team bring together a diverse range of skills from different service areas across the firm and therefore makes them well placed to assist tech businesses, whatever stage they are at.

The Team & Recent Activity

AAB’s extensive experience in the tech sector enables them to cover all related industries, such as hardware and equipment as well as software and IT services. This dedicated team’s capabilities help support clients in tackling the challenges, exploiting the opportunities available as well as identifying what is required to grow by offering quick and responsive advice based on sound judgement and expertise.

Key members of the tech advisory team at AAB include Kevin Meaney, Entrepreneurial Tax Partner, Brian McMurray, Head of Equity Funding, Alex Matthews, Digital Director at AAB Consulting, Kenny Fraser, Strategic Adviser in the Technology Sector, Ricky Cowan, Business Development Director and Hilary Dyson, Cloud Accounting Lead at AAB.

The diversity of skills across the team has seen client wins across the corporate finance, tax, business advisory and consulting arenas. With a particular focus on high-growth companies, recent  examples of the support and advice provided to businesses in the sector include business planning, financial modelling and fund-raising; tax structuring, tax incentives, R&D and patent box claims and VAT advice; cloud accounting, virtual finance function and compliance services and organisation agility and digital transformation consulting.

Supporting Tech Businesses at Each Stage of Development

AAB’s depth of capabilities in this space, coupled with their market knowledge, has assisted them in identifying the typical support requirements of a tech business across their life cycle. Their dedicated technology sector team work with businesses at each stage of development and partner with them to maximise value at each of the stages detailed below.

Start Ups

• Fundraising
• Tax Structuring (including SEIS and EIS)
• Employee Incentives
• Cloud Accounting (implementation and training)

Growth

The key focus area here is on maximising growth and increasing shareholder value.

• Consulting
• Expanding Overseas (international tax)
• Share Schemes
• Additional Fundraising

Exit

The team are focused on getting the best value for the business through securing the best deal possible.

• Pre-Sale Tax Planning
• Sale Mandate
• Deal Execution
• Transaction
• Post-Sale Wealth Management & Financial Planning

With technology at the forefront of their own service delivery, in addition to this specialist sector knowledge, experience and diverse range of skills, AAB are well placed to advise tech businesses achieve their ambitions and assist with business advisory support requirements, whatever stage they are at.

Key members of the tech advisory team at AAB include (from front to back): Brian McMurray, Head of Equity Funding, Kevin Meaney, Entrepreneurial Tax Partner, Kenny Fraser, Strategic Adviser in the Technology Sector and Alex Matthews, Digital Director at AAB Consulting. Not pictured: Ricky Cowan, Business Development Director and Hilary Dyson, Cloud Accounting Lead at AAB.