Seafood

Seafood

The Seafood sector varies dramatically but no matter what your particular niche the need for expert advice on your finances is constant throughout. Whether you’re on the frontline with vessels out catching fish on a daily basis, processing fresh produce from your factory or running a wholesale or retail outlet we are here to help you keep your head above water.

Being established in one of Europe’s most important and historic fish markets has enabled us to build relations with key industry professionals and work with local organisations within the seafood industry, such as the Grimsby Fish Merchant Association. Working with these organisations ensures that our specialist seafood team has vast industry knowledge and experience and can provide the best level of support to help business growth and wealth development.

Due to the nature of the industry we understand the pressure on profit margins, which is why it is vital that cash flow and all other financial matters of your business are constantly monitored. We’ve partnered with the UK’s leading Cloud accounting providers which can integrate with external applications and allow you to record transactions and stay up-to-date on the move.

We can:

  • help evaluate the current financial performance of your business and pin-point areas for improvement
  • support your applications for grants, finance and locating sources of funding, such as the European Maritime Fisheries Fund (EMFF)
  • provide advice on dealing with the import and export of fish stocks and the relevant VAT implications
  • deal with complex capital allowance calculations and assist with any research and development tax relief available to your business
  • discuss accounting for foreign currency transactions and management of associated risks
  • help you to plan financially for any changes to quotas and UK rights in the uncertain times post ‘Brexit’ with changes likely to impact on future fish prices for all areas of the industry
  • review your current stock and computer systems to ensure they’re suitable for your requirements and provide the information you need on yields and profits on specific stock lines.

“As a seafood trade association we have a diverse membership, but our members have one thing in common: the need for sound, reliable and professional financial advice. Forrester Boyd, with its experience, adds value to sectoral representation. I’m delighted with the relationship, no matter how big or small, simple or complex the query is, I know I’ll receive a qualified, no nonsense answer.”

Steve Norton, Former Chief Executive, Grimsby Fish Merchants Association Limited