As the UK economy emerges from the worst of the COVID-19 pandemic, the thoughts of business owners are increasingly turning towards the future – rather than merely focusing on short-term survival.
However, startups and small businesses across the UK – the kinds of companies that would, ordinarily, be the motor of an economic recovery – are facing a simple problem that is seriously impacting their growth prospects: a funding sh... Continue Reading
With COVID-19 restrictions now ended and, despite high case numbers, not likely to return, many business owners may be anticipating the long-awaited return to “normality” that people have been looking forward to virtually since the day the pandemic began.
However, while there is plenty of evidence to suggest that people will return to more in-person shopping this year and that the growth of e-commerce will slow, small business o... Continue Reading
For some people, the idea of going into business with a family member and potentially creating a venture that can be passed down to children and grandchildren is something they dream of. For others, personal and professional matters are things they want to keep strictly separate.
Going into business with someone from your family is a highly complex affair. On the one hand, even if a family business is something you’ve always wante... Continue Reading
It might not seem like it if you look out the window, but summer is rapidly approaching and now is the best time to begin preparing for the summer months. Typically seen as somewhat of a slow period for many businesses, planning in advance can help to ensure owners get the most out of the season.
Get your plan set
A solid marketing strategy is vital as summer approaches, as you’ll need to keep customers and clients on... Continue Reading
As businesses grow, accounting and financial management become far more time-consuming and complex tasks. In instances like this, the worry for small business owners is that potentially extremely costly errors may be made that could have far-reaching consequences.
When seeking to adapt accounting processes to match their growth, many business owners turn accounting software, which offer scalable, personalised solutions that enable b... Continue Reading
Everyone in the world has their passions, the things they are obsessed with, their dream job. But, unfortunately, for many, it’s a simple fact of life that their professional life and what they are passionate about do not really cross over.
Even among business owners and self-employed workers, it’s common to find people who are working in a sector, industry or role that they have little to no real interest in. However, starting ... Continue Reading
Amid the tumult of the COVID-19 pandemic, one of the main things that has helped small and medium-sized businesses survive and remain resilient is the ability to quickly and decisively adapt to the challenges they face.
While some business owners laboured under the assumption that the pandemic would be a temporary thing and that the market would soon return to normal and others just followed their gut instincts, studies have shown t... Continue Reading
In the wake of the spending sprees that accompany Christmas and New Year, January is often seen as a fairly fallow period for trading. If you’re a small business owner still factoring the impact of the COVID-19 pandemic into your bottom line, then this can be a worrying thought at the start of a new year.
Often, the remainder of winter is a case of just getting through the rest of the season until trading picks up again in the spr... Continue Reading
There are a wide variety of reasons that you might want to acquire a business, whether you’re targeting a larger market share, a wider product range, or a boost to your profits. However, there is arguably one constant that buyers look for in a target business and that’s growth potential.
Before spending the money to buy a business and taking on all the associated risks that come with that, you'll want to know that the acquis... Continue Reading
The world of business is rapidly digitising as new technologies advance every day. Digital transformation, therefore, is driving huge, quick growth for many companies across a range of industries and for a huge array of processes.
The phrase “digital transformation” itself may call to mind huge corporations, high-rise towers and a fleet of IT engineers, programmers and data analysts working round the clock on the company’s dig... Continue Reading
With Christmas rapidly approaching, small businesses across the UK will be wondering how to make the most of the festive season and boost their sales over the holiday period. With commercial sentiment likely to be high this Christmas, following the debacle of last year, the key for businesses will be capitalising on this and ending the year on a high.
As well as boosting sales over the period itself, Christmas can be a great time to... Continue Reading
If you’ve chosen to retire from your business, then there’s a chance that you don’t want to spend your remaining time at the helm engaged in a lengthy, complicated sale process. Often, retiring owners will instead look within the company at their senior team in order to find a successor.
If you promote a successor from within, then the likelihood is that the deal will be structured in such a way that you are paid out over a pe... Continue Reading
As your company grows, your mind might most naturally incline towards considering what assets you can acquire to generate further growth. One thing that might not immediately occur is the idea of divesting parts of your business.
However, whether it’s to strengthen your balance sheet amid a period of turbulent trading, or to enable you to refocus your business on its core offering, divesting a division of your company can pay as m... Continue Reading
For business owners that have been considering a sale, widespread reports that an increase in Capital Gains Tax could be unveiled at an upcoming budget may have made securing a sale suddenly seem like a more urgent matter.
Despite the inherent tax advantages of locking in a sale before any potential change to CGT, the first thing to state is that it’s important to not rush into a sale and conduct the process in a manner that could... Continue Reading
Compared to Management Buy-Outs (MBO), Management Buy-Ins (MBI) are a relatively uncommon form of takeover. While the process can pose significant challenges, in the right scenario an MBI can also make sense for all parties involved: the incoming management team; the outgoing owners; those financing the deal; and the company in question.
Here, we’ll outline what constitutes an MBI, some of the advantages, drawbacks and challenges ... Continue Reading
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