At the beginning of May, Grant Thornton Slovenia attended the 39th consecutive Financial Conference, which took place this year at the Grand Hotel Bernardin in Portorož between 10 and 11 May. This year's Financial Conference, which has been organized since 2012 by the Ljubljana Stock Exchange and Časnik Finance, reads; From an epidemic pool to a rapid of new geopolitical and financial uncertainties. How to react soberly and overcome this situations?
As the main sponsor, we supported the 39th Financial Conference, as part of the Grant Thornton International advisory network, where we strive to bring state-of-the-art solutions in the areas of financial, tax and business consulting moreover auditing and accounting services.
As one of the world's leading providers of audit, tax, consulting and outsourcing services, our strategy is built around the goal of caring for our employees, our clients and communities, furthermore helping to create sustainable impact in the world as part of Grant Thornton International.
International experience and knowledge gained in almost 30 years of presence on the Slovenian market are the driving force that moves us forward. We focus on building strategic capacity, managing risk, strengthening quality and building a culture, thus offering our employees and customers a different experience and solutions that create added value.
Grant Thornton Slovenia is constantly proving its resilience and at the same time readiness and responsiveness to market opportunities. This year, we see three key challenges, which are also market opportunities. The first challenge is to manage risks due to tighter macroeconomic conditions, which will be reflected in rising material costs, labor costs and interest rates. We advise companies on effective management of these risks, finding reserves and insuring against risks.
As our partner dr. Jože P. Damijan commented at the financial conference: »Mainly the problem is that supply inflation cannot be easily controlled and reduced. Central banks currently have no answer or mechanism by which they can cool the inflation. They cannot increase oil production, provide for higher chip production, or address other scarcity problems - they have only crude indirect measures available. The current situation in dealing with inflation is like a farmer having Colorado potato bugs and napalming them. That's why ECB is so cautious. Interest rates are rising in the UK and the US, but very slowly. One hopes for a 'soft landing'. But as long as supply shocks continue, this cannot happen.«
We have been effectively addressing the second challenge since the outbreak of the pandemic and the creation of the European Recovery and Resilience Plan. We are preparing custom-made investment financing plans for many leading Slovenian companies, addressing green and fair transition and digitalisation, and helping them to obtain funds from the National Fund for Recovery and Resilience and to obtain state aid for large projects. This challenge of the green transition will intensify this year after the outbreak of the Ukrainian crisis. The Grant Thornton Slovenia team is well-prepared for it.
The third challenge is the financing of technology projects. We help technological start-ups to obtain start-up funds, and we advise already successful companies on t.i. smart financing of projects that effectively address environmentally and socially responsible goals.
As our partner Sandra Damijan emphasized the conference: »Most upper middle-income economies recorded a decline in new SME lending. Given inflationary pressures the risks associated with lending to SMEs and enterprises in general are comparatively higher and banks will be less incentivised to lend, especially in a crisis situation we are now. We will heavily rely on other financial market participants to fill this liquidity gap. In order to scale up businesses the entrepreneurs will need special skills. Finance alone is not sufficient to create success stories. The entrepreneur needs not simply finance, but the best finance. The best finance means combining money, know-how, mentorship and networking. Here angel investors play significant role by providing smart and patient capital.«
As the world continues to evolve and adapt, Grant Thornton Slovenia is also evolving. We have been exceeding expectations on the Slovenian market for almost 30 years and encouraging open dialogues in the field of finance.
That's us. Grant Thornton Slovenia.
Photo snapshot from the stand at the 39th Financial Conference.
Photo: Jernej Lašič.