2022 proved the perfect storm for retail and hospitality businesses. Hampered demand amidst a cost-of-living crisis, supply chain issues, energy price hikes, soaring inflation, industry strike action and political unrest in the UK all amounted to dire trading conditions in 2022. Not to mention the UK entering recession at the end of the year. Unfortunately there’s little hope of these headwinds easing in the first half of 2023. But for those that can navigate these challenges until summer, they should begin to see some silver linings when we get to late spring. The warmer months will reduce energy costs for customers and businesses alike; inflation will fall as increased costs become embedded, and stabilising interest rates will give consumers confidence to loosen their purse strings.
The next step forward is getting through to the other side - join this webinar as Jacqui Baker, Thomas Pugh and Damian Webb from RSM offer insight on levers that can be pulled to help businesses operate efficiently and profitably in the current economic climate. They will also look at the current economic forecasts to see when the downturn might end.
Jacqui Baker, Partner, Head of Retail, RSM UKJacqui co-leads the national consumer markets group and is head of the firm’s retail sector group in the UK. As an audit Partner based in the Liverpool office Jacqui has a breath of expertise in retail, advising a number of national retailers together with independent stores. Whilst she specialises in the consumer sector, Jacqui also has an interest in entrepreneurial, growing businesses, with extensive experience in advising private equity backed businesses, understanding the unique opportunities and challenges they face. Jacqui works collaboratively with clients, providing sound commercial advice that enables them to achieve their objectives.
Simon Gray, Head of Business, ICAEWSimon is a chartered accountant and ICAEW member who qualified with KPMG in Nottingham. After many years of volunteering, including District Society President, Chair of the Business Committee and Council Member, he joined ICAEW as Head of Business in December 2021. His background is in the recruitment, careers, membership and inward investment sectors. Simon has started and run his own businesses and served as a Non-Executive Director.
Damian Webb, Partner, RSM UKDamian is a restructuring specialist and leads RSM’s London practice. He is focused on advising SMEs and their stakeholders on the options available to them to preserve and enhance their value. This ranges from strategic options analysis to complex restructurings and accelerated acquisitions and disposals (AMAs). His previous corporate finance experience, coupled with his restructuring skills, helps Damian provide innovative solutions to complex assignments. He has a diverse and varied background, having worked in a range of geographies and sectors.
Thomas Pugh, Economist, RSM UKTom is RSM UK’s economist. He provides economic insights from a middle market perspective, to both RSM UK and its clients. Tom works closely with RSM UK partners across the UK, as well as with colleagues in the US to monitor how changes across the pond could affect the local market. After graduating from the University of Manchester in 2009, he went to work for HM Treasury. This was right in the middle of the financial crisis, so he was assigned to help redraft the banking regulations. He then spent eight years at Capital Economics, where he first covered commodities (mainly oil), then the UK economy in the wake of Brexit and the onset of the pandemic.
ICAEW members and non-members are welcome to join.
RSM is a leading provider of audit, tax and consulting services to middle market leaders, globally. With over 3,660 partners and staff in the UK and access to 51,000 people in over 120 countries across the RSM network, we can meet our clients’ needs wherever in the world they operate.
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The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
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