Today’s news in brief – 22/5/2024

Mark Shaw has been appointed as BDO’s next managing partner following a vote by the firm’s equity partners. Shaw will take office on 1 October 2024, succeeding Paul Eagland, who will have completed his maximum of two four-year terms as the firm’s managing partner. The firm has more than doubled in size since his appointment in 2016. He has held numerous senior leadership roles at BDO since 2008, including being national head of business restructuring and a member of the firm’s advisory executive and quality and risk executive. Ribchesters Chartered Accountants has announced the appointment of Lesley Stabler to the role of partner in its Durham City office, following a “sustained” period of growth. Stabler joins the firm with more than 20 years of experience in a senior role, and has joined the firm from Azets (Tait Walker prior to its acquisition in April 2022). Having worked in the North East throughout her career, Stabler has gained her experience working with a wide range of clients, predominantly with owner-managed businesses including those in the property, retail, agriculture and pharmaceutics sectors. In her new role, Stabler will be responsible for supporting existing clients and assisting with the firm’s ambitious growth plans across the region and beyond, as well as nurturing and developing Ribchesters’ talent by mentoring new and existing staff. Moore Smith Corporate Finance has been appointed by Compass CHC to advise the group on its growth investment from the private equity firm Omni Partners LLP. Compass CHC, founded in 2014, specialises in securing care funding through the NHS continuing healthcare package. The group assists individuals in securing NHS continuing healthcare funding when they have a primary health need and the full cost of their care should be paid by the NHS. The Moore Kingston Smith team was led by Dan Leaman, corporate finance partner, supported by Matt Edwards, Katharine Stone and Dylan Sweeney. Mark Fielden, Thomas Acland and Sam Talbot from the Moore Kingston Smith M&A tax team provided tax support throughout the transaction ensuring a full commercial and financial integrated approach. 86% of small businesses performed as well as or better than forecast in the first quarter of 2024, a new survey conducted by ACCA has revealed. This positive performance by Irish businesses, supports the findings of ACCA’s Global Economic Condition Survey (GECS) that saw a moderate rise in confidence among finance professionals in Western European and a gradually improving global economic outlook. However, SMEs remain concerned about operating costs with 41% of Irish businesses calling it out as a significant challenge with 44% stating that increased wage demands were an impediment to business performance in the first quarter of the year. The main concern for the finance professionals surveyed, however, was persistent challenges in recruiting and retaining staff with just over half (51%) signalling that this is their most pressing issue so far in 2024.