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
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
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
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
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
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
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
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
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
With non-essential businesses across the UK set to receive the go-ahead to re-open their doors in under a fortnight’s time, hundreds of business owners are faced with the daunting prospect of how best to handle this process.
Of all the many challenges that business owners have faced over recent months, this is perhaps one of the most complex and important. After all, while lockdown may be easing somewhat, the UK still remains in t... Continue Reading
Right now, buying a business probably isn’t at the forefront of your mind. But every crisis and recession must pass and, at some point, M&A shall return to something resembling “normality”. However, as the chronically-overused phrase “new normal” suggests, what is normal may be radically different.
Even among businesses that survive, the post-coronavirus market is likely to see many business owners seeking an exit, for wha... Continue Reading
The current climate may not seem particularly friendly to business owners seeking an exit, but there are options which offer considerable advantages, while avoiding some of the more difficult elements of a business sale.
One of the most popular among such options is a sale to an Employee Ownership Trust (EOT). An EOT is an indirect form of employee ownership, through which a trust holds the controlling stake in a company on behalf o... Continue Reading
The coronavirus pandemic has abruptly altered the world in innumerable ways and the day-to-day running of a small or medium sized business is no exception. With lockdown measures and social distancing firmly in place, companies across the world are having to adjust to their entire office suddenly going digital.
Going from the everyday buzz and hubbub of running an office to working from home and communicating by message and video ca... Continue Reading
Buying a company that’s entered into administration can seem like a quick and easy win, with a lowered asking price, a sale actively being sought and liabilities to creditors remaining with the seller.
In the current climate especially, cash-rich, acquisitive entrepreneurs may never again have such a good opportunity to buy companies in administration and potentially reap the rewards of reduced competition and revived consumer con... Continue Reading
In our previous blog, we looked at the ins and outs of selling a family business. In this piece, we head to the other side of the negotiating table, and examine how to go about purchasing a family business, when you're not a member of the family.
A successful family business can be incredibly attractive acquisition, should you get the opportunit... Continue Reading
For just £30 your business for sale will feature at the top of and in the sidebar on business for sale pages, making your business stand out from the crowd