GMS World

It has certainly been a month and a half for GMS World.
And the World is the operative word.

As well as the hang over from the tax return season which seemed to drag on right through January, it has been international season, with all of our overseas clients being very active:

• It started with some accounts for a Swiss company engineering company;
• some more accounts for a Russian oil company;
• some accounts for an Indian based healthcare business;
• some negotiations on the sale of some pharmaceutical products for another Indian client;
• a flying workshop for one of our Dubai based clients, who had me working my socks off in a hotel room for two days (not what you are thinking - those with dirty minds);
• the negotiation for some land in India;
• a small piece of tax work for a UK client who deals with the US; and finally
• a trip to Indonesia for one of our oil clients (which is where I am writing this blog !)

It all sounds very exotic, but one hotel is much like any other, and long haul travel is never fun. (Even on the new airbus 380 !!)

The work though has been very interesting and varied. And that is what makes what we do so enjoyable.

We have also been developing a number of web based products which we are launching very soon.

Amanda and I are working with a new client to help revamp our website. We have learnt so much in relation to the web, marketing on the web and the benefits that a correctly structured website can bring. It has been really interesting.

Business across our clients has been steady, but slow. UK businesses are very clearly still suffering. Construction, Insurance, Recruitment, Manufacturing, Print.... I could go on. All are finding it a slog, and in some ways there is no surprise. The UK economy still has some corrections to make. Only last week the threat of a fall in UK Plc's credit rating has hit the exchange rate and therefore the attractiveness of the UK as an investment.

More cuts in public sector spending and the very real possibility of tax rises are all things that we expect to hear about in the budget in a few weeks time. With a May election looming, this one needs to be a vote winner but not at the risk of unsettling the climb back up the curve.

I wouldn't want Alistair Darlings job right now.

Chris

The beginning of the end or W?

Things certainly seem to be picking up. As accountants we are quite a good barometer, we speak to a lot of client's and can see the activity. And activity seems to be going up.

Our established clients are doing OK, and even the ones that have been suffering, seem to be getting back onto an even keel. There are still a few that are struggling, but things are looking up. We have tried hard to support as many as we can by connecting clients, but it is not easy to be able to add sales and support in some of the niche industries.

I had a meeting with a local radio station this week. The finance director was a very experienced media accountant and it was good to get a feel for their progress. They sell media space direct to local businesses. Radio and media advertising is usually the first to go when businesses are struggling. He confirmed that although spending had slowed dramatically, business owners were now looking to ramp up again. He was cautiously upbeat.

I also met a potentail new engineering client. A fantastic high end engineering business that goes from design right that way through to finished product. They again had been suffering, but were beginning to see their sales pipeline pick up, as new orders and requests had started to come in.

This all sounds good. Could this be the beginning of the end of the current economic crisis?
According to our dear friends at the financial institutions: "No".

They are saying that the recovery does seem to be kicking in, but that they are expecting a W shape recovery. They think that we are in the middle of the W. If that's the case, then perhaps it's not wise to go into any investments in a big way. Product development and innovation have been long-term success stories in the past, so let's keep innovating, but at the same time, proceed with caution.

We have all learnt many lessons over the last few years. Some painful ones in some cases. Let's hope we all act responsibly and sensibly over the next few and well into the future.

I'm seeing some great clients next week, and have the inaugral meeting of an innovation group, so I'll let you know how they go next week.

Chris

Let's Blog

Welcome to my blog.

Talking to Nicola yesterday (http://www.theweddingshop.co.uk/) prompted me to get this blog up and running.
I have been thinking of capturing our antics and thoughts on a blog for a long time, but have only just found the time to go through the set up process. However: We are up !

GMS World is such an interesting place. We never know what each day will hold and we deal with so many fantastic charactors from a range of industries. Life here is never dull.

Hopefully this blog will serve as an insight into this world and will give our followers a human perspective on some of the going's on behind the walls of 122 Feering Hill.

Hope you enjoy the reading.