The Spring Budget arrived last week, setting out a plan for the UK’s economic recovery from the COVID-19 pandemic.
With the crisis still very much ongoing for the time being and significant restrictions in place for the next few months, business owners at the UK’s SMEs will have been keen to hear what kind of aid the government will provide for what are, hopefully, the final few weeks of lockdown.
Financial support con... Continue Reading
It’s no secret that times are hard for the UK’s SMEs at the moment. Even for those that aren’t facing imminent peril from the threats of COVID-19 lockdown or Brexit, the problem facing high-potential SMEs is how to generate growth with the economy in a state of paralysis.
With the UK set to reopen over the next few months as the vaccine rollout progresses, some SME owners will understandably want to turn their thoughts from su... Continue Reading
When it comes to selling your business, arguably the most crucial thing you can do is to get people around you who have experience of the process and who, most importantly, you know you can trust.
Having the right support throughout your business sale will be vital to navigating the various issues and problems you are likely to encounter and, ultimately, to achieving a successful sale.
Here, we’ve compiled the top th... Continue Reading
When you first start your business, planning your exit from it is unlikely to be at the forefront of your thinking. At the beginning, you’re probably thinking more about your vision for the company and its growth over the first couple of years and obviously we don’t want to discourage this.
However, thinking early about how and when you might exit the business has numerous benefits, some, obviously, that will pay off a few years... Continue Reading
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
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
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
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
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
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
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
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