Financial resilience for SME care providers: navigating today's economic challenges.
Join our essential webinar designed for SME care businesses.
In today's challenging economic landscape, homecare providers are facing unprecedented financial pressures. Rising operational costs, including significant increases in employment taxes and the minimum wage following the Autumn Budget 2024, are creating a perfect storm for many small businesses in our sector. With a 10% cost increase and local authority funding often falling short, maintaining business viability has become increasingly difficult.
It is tempting to ignore warning signs, but facing into financial challenges and seeking help increases your chances of finding a way through.
Key topics include:
- Recognising early warning signs of financial distress (cash flow issues, reliance on overdrafts)
- Understanding directors' legal and ethical responsibilities
- Practical restructuring options and preventative strategies
- Working proactively with local authorities and other stakeholders
- Managing relationships with HMRC and other creditors
- Maintaining continuity of care and sponsorship and other employment responsibilities during financial challenges
Learn from sector specialists:
We've partnered with R3, the UK's insolvency and restructuring trade association, to bring together financial experts with extensive experience supporting care providers. Our panel combines practical provider experience with specialist financial expertise. The panel will advise on spotting warning signs, prevention, and ethical handling of financial problems:
Melanie Weatherly MBE
Small homecare provider, Co-Chair of the Care Association Alliance, and former Chartered Accountant specialising in insolvency
Melanie co-founded Walnut Care in 2002, now one of the largest domiciliary care providers in Lincolnshire, employing over 200 care professionals and providing 600,000 care visits annually.
A passionate advocate for the provision of home and community care, Melanie has been the Chair of Lincolnshire Care Association (LinCA) since 2016. LinCA represents a range of care providers, working with them to improve standards of care.
Melanie is also Co-Chair of the Care Association Alliance – a national body bringing together representatives of care associations to engage with the wider health and care system.
In 2020, Melanie received an MBE for her services to social care, honoured for helping set up the Care Home Trusted Assessor Scheme. In a national first, Melanie also led a scheme to train care workers to become nurse associates.
Kerry Bailey
Partner, Business Restructuring at BDO
Kerry has wide-ranging business restructuring experience in all aspects of turnaround and rescue, as well as formal insolvency appointments. She acts as a professional adviser to financial institutions including government bodies, banks, asset-based lenders and company directors.
Kerry provides advice, undertakes business reviews and takes formal appointments, across all industries including retail, motor, manufacturing, transport, haulage, chemicals, healthcare, hospitality and leisure.
Kerry works with directors of businesses with cash flow difficulties and trading problems and assists with debt rescheduling and finding solutions involving both formal and informal procedures.
Sam Dean
Director, London Restructuring Team, Grant Thornton
In Restructuring, Sam manages multiple teams and provides various advisory and formal insolvency services, such as independent business reviews, contingency planning, working capital analysis, debt restructuring, cash flow reviews, administrations (both trading and pre-packs), and liquidations.
During the 12 months leading up to March 2022 Sam was seconded to the Credit function of Aviva UK Life, reporting directly to the chief investment officer. His primary focus was on the workout of underperforming investments, with a particular emphasis on the real estate.
Sam's key sector focuses include Real Estate and Healthcare. In recent years, he has led the trading administration and sale of a portfolio of over 60 care homes located across the UK, as well as the trading administration and sale of one of the UK's largest holiday parks.
Laura Jordan
Corporate Partner at Anthony Collins Solicitors
Laura Jordan is a partner in the Anthony Collins Social Care Team, specialising in corporate and commercial work. With 18 years of experience working both in-house and in advisory for social care providers, including a board role as Legal Director for a nationwide care provider, she has developed deep expertise in the health and social care sector.
Laura’s work spans company secretarial matters, data protection, regulatory and the complex legal challenges faced by organisations delivering and supporting care. This breadth of experience enables her to provide strategic and pragmatic advice to homecare providers, care associations, and both private and not-for-profit organisations.
Laura is committed to leaving a positive impact on society and those that she advises, as she works to help improve, enhance and protect social care providers, care home associations, as well as private and not for profit organisations.
