Selling your business through seller financing

Planning a business exit during COVID-19 is difficult and many who had been eyeing a sale may have long ago shelved their plans in order to wait for the market to recover.

However, if you’re intent on selling your business and not inclined to wait out the crisis, then you want to both maximise your chances of a successful sale, while minimising your exposure to risk.

One way to broaden the pool of potential buyers fo... Continue Reading

You’ve bought a business – Time to turn it around

Completing the arduous process of finding the right business for you and then finalising the acquisition is a great feeling. But, of course, you’ll be aware that the hard work has really only just begun.

Whether you acquired it in a distressed state and it needs a total turnaround, or if the business needs an injection of modernisation and innovation, knowing how to go about restructuring your new company will be central to ensuri... Continue Reading

The End of the Brexit Transition - Top Tips for SMEs

After four and a half years that seem to have lasted a lifetime, the UK will finally leave the European Union on January 1 2021 when the Brexit transition period ends.

While some issues, including the small matter of a trade deal, remain up in the air, the imminent reality of Brexit is something that everyone needs to face up to. This is perhaps especially true for business owners.

With so much uncertainty still surrou... Continue Reading

Surviving Lockdown 2: Tips for SMEs

So, here we are again, in another lockdown during which non-essential businesses must close their doors to customers. As an SME owner, you’ll know you’re not alone in battling a mixed feeling of deja vu and dread at the prospect of such another difficult disruption to trading.

While there are no doubt numerous similarities with the lockdown of the spring and early summer, this second lockdown will also be a different experience ... Continue Reading

Business acquisition - Stand out as a bidder

If you’ve got your eye on a potential business acquisition, the chances are you’re going to be going up against a few other bidders. It might be the case that you know this for a fact, or you may have no idea who else is in the running.

Whether you know what you’re up against or not, though, it always pays to stand out and make yourself the most attractive bidder possible. With this in mind, here are three key things to consid... Continue Reading

IR35 – Does it affect your business? And what to do if it does

Chances are, if you’re a business owner, you’ve probably heard a considerable amount about IR35, an update to off-payroll working that is causing considerable consternation among freelancers and the companies that employ them.

Depending on whether you employ contractors and meet certain criteria, your business may be impacted by the implementation of the new IR35 rules.

The new rules are already in force for public... Continue Reading

SME invoicing – How to get paid on time

One of the many crises to emerge for the UK’s SMEs from the COVID-19 pandemic has been a huge buildup in outstanding invoice payments, as cash flow problems and administrations impact firms that SMEs do business with.

According to recent Nimbla research, 38 per cent of UK SMEs are due average payments of slightly over £59,000 for work completed prior to COVID-19 lockdown. Worryingly, the study found that 21 per cent of these comp... Continue Reading

COVID-19 support for small businesses

The end of summer has been accompanied by a rapid worsening in the COVID-19 crisis, with the UK recording a record figure for daily case numbers on September 24 (albeit with testing now at a far higher capacity than when the previous record was set in spring).

The increase in cases over recent weeks has prompted a reversal of some of the lockdown easing measures that were rolled out over the summer and it seems overwhelmingly likely... Continue Reading

Should you move your small business to the cloud?

Moving your systems to the cloud might seem like a big step, especially if you run a small business. On the surface, it might sound like something more in the domain of big firms or tech companies, something that could complicate or disrupt the smooth day-to-day of your business.

However, cloud systems can often simplify how your business runs, help you bridge the gap to bigger rivals and make things such as data security that much ... Continue Reading

What to do if you can’t sell your business

Selling a business is never easy, but it’s especially hard when the process drags on and on without ever going anywhere. In that situation it’s easy to feel like you might never find a buyer for your business, which can make it that much harder to continue trying to find one.

However, it’s important not to get down-hearted or give up. Just because you haven’t managed to find a buyer doesn’t necessarily mean that your busin... Continue Reading

How to attract investors to your new startup

According to a GoDaddy survey from last month, COVID-19 lockdown has prompted one in five people in the UK to consider starting a new business or side venture. Among those who had seen their job security threatened by the pandemic, this figure rose to almost a third (31 per cent).

The reasons for this are understandable, having more time at home due to remote working or furlough will naturally give people more opportunity to conside... Continue Reading

How to buy a business that’s not for sale

If you’re looking to buy a business, and have the cash at hand to see out the current crisis, then now is perhaps a better time than ever. COVID-19 has left companies of all sizes and across most sectors in a vulnerable position and many will be open to an acquisition.

But, if you’re looking to buy a business, you won’t necessarily only have to target companies that are in severe distress in desperate need of a buyer. Due to t... Continue Reading

Three tips to set an asking price for your small company

One of the most important and difficult decision to make once you’ve decided to sell your business is how to set an asking price. You’ve worked hard to build your business and offsetting it won’t be easy. What’s more, putting a price on it might not be something you've considered in the past.

Don’t worry, many business owners experience this exact issue – all documents, finances, staff are all set and ready to go but... Continue Reading

Buying a startup? 4 sectors to consider post-coronavirus

If you started the year hoping to buy a fledgling business, chances are these plans have been derailed or delayed by the COVID-19 pandemic.

However, while the virus has completely changed the marketplace for businesses and consumers worldwide, it is by no means the case that there aren’t good acquisition opportunities out there.

In fact, with consumer tastes and dominant trends likely to be drastically altered by the... Continue Reading

Replying to potential buyers in 5 easy steps

Once you’ve finished the process of preparing your business to be sold, listed and advertised it, you’ll obviously be hoping for the offers to roll in. But, once they do, how best to proceed? It may not have occurred to you instantly, but replying to suitors can be one of the key steps in securing a good price for your business and ensuring you find a suitable and reliable buyer.

Here’s the low down on our top tips for replyin... Continue Reading