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Evidence of a rapidly evolving retail sector can be seen from a walk down any high street; coffee shops often dominate prime retail space, while many long-established stores have been replaced with chain restaurants and entertainment spaces.
As shoppers’ habits change and competition increases, retailers are faced with an increasing number of challenges to respond to in order to stay profitable.
Working capital management is an ongoing challenge for many; maintaining high stock levels, dealing with seasonality of trade or supply chain management can impact financial efficiency.
Increasing compliance demands, increasing employment costs and high staff turnover contribute to a range of operational and financial challenges that must be monitored, measured and managed. Retailers must ensure that growth plans take account of evolving market trends and the investment needed to stay abreast of change.
Our bespoke services
At Rickard Luckin, we’re passionate about helping our clients overcome challenges and achieve their long-term goals.
Our team take time to gain an in-depth understanding of your business and its priorities, maintaining regular dialogue, helping you to anticipate your business’ future needs and plan accordingly.
Our team have worked with small independent retailers to multi-site businesses operating in the UK and internationally. Our depth of knowledge and experience enables us to provide valuable insight and suggest practical solutions.
Improve management of working capital, benchmark your business and make timely changes to your strategy based on key financial indicators found in our bespoke reports and analysis.
Click here to read more about our Management Accounts services
Outsource an increasingly complex function with a growing compliance obligation to our team of payroll specialists to efficiently manage evolving teams of staff.
Click here to read more about our Payroll services
Improve staff retention rates through share scheme incentives and Enterprise Management Incentives (EMIs). Our specialists can draw up share scheme rules, help restructure share capital and protect existing shareholders.
Overcome VAT challenges or clarify your obligations with our expert advisers.
Expand your operations with confidence through local, on-the-ground support and expertise throughout the world via our membership of a global accounting network, MGI Worldwide.
Our Retail team also provide a wide range of complimentary services, including statutory accounts preparation, audit and assurance reviews, cloud accounting implementation and support and advice relating to Making Tax Digital (MTD).
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Get in touch with our expert team
For us to get the right support it is crucial that our advisers understand our business and can work closely with us across different aspects of this. We have developed a great relationship with the team at Rickard Luckin and really feel they work with us on a personal level as well as maintaining high professional standards and detailed knowledge. It is obvious that they care about their clients and that comes across in how they interact with us on an on-going basis. We would happily recommend others work with them to see the benefits of working together in this way.
Rickard Luckin recently undertook a review of our in-house payroll function and we were very pleased with both the approach to the work and the recommendations that were provided as a result. We agreed the scope of the work in advance having discussed the areas which may be of greatest value to review and therefore we felt fully informed throughout. The team understood our business and were able to consider the commercial and operational aspects, providing suggestions for improved efficiency and ease of use, at the same time as considering compliance aspects. Where you engage with somebody to do this type of work it is important that it provides tangible value to the business; we certainly feel like we achieved this from this project.
We need to know where we are going and the reports and cash flow forecasts from Rickard Luckin enable us to do just that.
Rickard Luckin helped to restructure both the business model and job roles, defining what everyone does. Furthermore, the budgets provided enable us to see if we hired another member of staff what position they should fulfil.
Given the rising costs associated with the new building, Rickard Luckin has helped in every department, so we know where we are going. All the financial reporting enables us to know what we can spend and to set targets for what we need to hit. This helps in every way.
It is due to the good service we get from Rickard Luckin. The team is very knowledgeable, knows the latest regulations and are up-to-speed accountants.
I can send an email to Peter Leonard and he responds immediately. Peter is young, knows what he is doing and is a practical accountant. He is suited to us as we aim to grow and expand.