Mann Made Group has been serving its clients for more than 10 years in corporate sector that allowed gaining impressive Business Incubation experience. Our approach is to provide constructive, customised and proactive instructions to our clients, while maintaining friendly and supportive atmosphere. Although, Mann Made Group in most circumstances opts for keeping the original idea’s framework, at the same time we are quite keen and eager on developing your Business Plan even further, exploiting our experience and range of potential opportunities. Mann Made Group holds a 100% success rate in provision of Business Incubation services allowing us to observe our clients’ business grow and prosper.
We would like to share one of emblematic cases we deal on a daily basis.
A client, introduced to us by an international law firm, had obtained a license to market a new type of disaster recovery software within the UK and Europe and needed assistance with the creation of the corporate structure, back office function as well setting up financial controls and dealing with the statutory requirements such as VAT. From the outset, it was clear that the client wished to focus their energies on growing the business without being heavily involved in the bureaucracy and red tape that can often be a huge distraction for new businesses.
During the initial client meeting, we were able to ascertain exactly what their requirements were, but also ask some important questions which are often over looked when setting up a new business such as exit strategies. While it is always possible to restructure in the future, setting up a structure which takes into account future plans, such as allowing an entrepreneur to exit the business in the most tax efficient manner, is a an essential consideration. Mann Made Group was also able to advise on possible key staff incentive plans and possible options schemes, and incorporate these into the initial set-up of the structure to ensure ease of implementation in the future. The client decided to engaged Mann Made and the new structure was incorporated within 48 hours of the client meeting.
The client utilised a number of value added services, which Mann Made Group can provide, such as access to our dedicated relationship manager at our corporate bankers. The business had specific needs in relation to banking. In addition to a straightforward multi-currency account, merchant card services (for the online portal for purchasing/ downloading the software), direct debit collections (for on-going license fees on monthly subscription users) and also a corporate credit card to facilitate payment of expenses we required. This involved three separate applications with varying requirements and various amount paperwork. The team within Mann Made Group was able to handle all three applications quickly and effectively, drawing on their collective experience to navigate the complex requirements new business now face when opening accounts.
Another service the client utilised was Mann Made’s tax compliance services – progressing the registration with HMRC to obtain a VAT number. Mann Made has much expertise in this area and was able to obtain a fast registration (7 days). The business was using an automatic system for creating and issuing invoices for purchasers (as it was volume sales) so Mann Made reviewed the invoices being issued to ensure they complied with statutory requirements, as well as reviewing the data extractable from the invoicing system to ensure the company could produce the relevant financial reports needed. VAT compliance and reporting is an onerous and burdensome task for entrepreneurs, however it is essential and the penalties for mistakes or non-compliance are substantial.
As the business grew, Mann Made Group continue to provide assistance such as advising on employment matters, remuneration structures and providing ah-hoc assistance in other issues. Mann Made Group also assisted on recruiting the right candidates to take over the services we had been providing while the business reached critical mass and it became appropriate to have their own in-house staff. We were extremely happy to be part of the client’s journey and success and we remain advisors to the company on tax matters.
Mann Made’s start-up and inward investment services do not change a business idea but do help to remove some of the barriers to early success. By providing a range of cost effective, value adding and professional services tailored specifically to the needs of the business, Mann Made allows entrepreneurs and inward investors to focus on the growth of their business while navigating various legal, financial and statutory obligations.