A new study has found 85 per cent of bosses with HR responsibilities at British SMEs support staff having the “right to switch off”. The “right to switch off” empowers staff to disconnect from work outside of regular hours and over weekends.
The “right to switch off” was widely expected to be included in the new Labour government’s Employment Rights Bill. However, it was ultimately excluded, seemingly confirming repor... Continue Reading
As companies expand, it's common to focus on acquiring new assets to fuel further growth. However, a strategy that often goes overlooked is divestment—selling off parts of your business. While it might seem counterintuitive, strategic divestment can be as impactful as acquisitions when it comes to achieving long-term growth and stability.
At a time when many businesses are struggling to raise funds and may be considering stre... Continue Reading
Purchasing an existing business can be a strategic move that offers numerous advantages over starting one from scratch. With less risk, immediate access to revenue, and a foundation already in place, acquiring a pre-established company can provide a smoother path to success. One of the key factors that make this option particularly attractive is the opportunity to inherit a well-established brand. In today's digital age, where social media a... Continue Reading
Shifting your business operations to the cloud might initially seem overwhelming, particularly if you run a small enterprise. It’s easy to associate cloud technology with large corporations or tech giants, and to worry that it might complicate your existing workflows.
Yet, moving to the cloud can actually streamline your operations, enhance your competitiveness, and improve your data security. Below, we outline several key reasons... Continue Reading
In the current economy, small businesses can face a serious challenge in attracting the customers they need to grow and can often struggle to keep pace with the rapid change in customer requirements and expectations.
This can leave owners feeling that their business is in danger of becoming redundant and that radical change is required in order to reverse their trajectory. However, such a dramatic shift is usually not what is requi... Continue Reading
If you’re looking to buy a business and have the financial stability to invest in a long-term venture, now may be an opportune time. A growing number of companies across various sectors may be increasingly open to acquisition offers.
However, acquiring a business doesn't mean you need to target only those that are in severe distress or are actively targeting a sale. Many solid businesses that were thriving before are now stru... Continue Reading
When it comes to selling your business, one of the most critical steps is determining its valuation. This figure will guide your sale price and is essential to ensuring a successful transaction. Setting the correct valuation is crucial; undervaluing your business could result in a sale price that doesn't reflect its true worth, while overvaluing it might deter potential buyers, causing the sale to falter.
The importance of a... Continue Reading
When considering due diligence, the focus is often on the buyer's process in an M&A transaction. They thoroughly investigate the business they are about to invest in, ensuring there are no hidden pitfalls. However, due diligence is also important from the seller's perspective. This process not only facilitates a successful sale but also helps ensure the business continues to thrive post-transaction.
Here are key aspects to ... Continue Reading
As we’ve emphasised previously, business owners should have an exit strategy in place from the very start of their venture, whether they’ve started a new business or acquired an existing one.
A lack of preparation can be absolutely fatal to business owners’ hopes of a successful sale and can lead to a rushed process that ultimately results in a sale to the wrong buyer at the wrong price.
Having an exit plan in ... Continue Reading
Acquisitions are fundamentally the quickest, and perhaps most reliable, method for businesses to secure growth. Rather than organically building and diversifying, something that involves a huge amount of time and a significant learning curve, acquisitions enable businesses to rapidly expand into new areas and tap into existing expertise and resources.
The ability to make such deals could have a major impact on whether a business can... Continue Reading
Purchasing a company that has entered administration might appear to be an attractive opportunity due to the lowered price, active pursuit of a sale, and the retention of liabilities with the seller. However, there are several critical factors to evaluate before making such a decision.
In the current economic climate, cash-rich entrepreneurs may find this a unique opportunity to acquire companies in administration, benefiting from r... Continue Reading
Delayed invoice payments are one of the biggest challenges facing UK SMEs. At a time when many small businesses are already suffering from a lack of working capital, not being paid in a timely manner for work that has already been done can have a catastrophic impact on a company’s financial position, potentially even putting it at risk of insolvency.
While there is no all-encompassing solution to the issue of late invoice payment... Continue Reading
Environmental sustainability is increasingly crucial to consumers today, making it vital for businesses to showcase their commitment to green practices to attract and retain environmentally-conscious customers. This shift in consumer values is mirrored in the business-to-business realm, where demonstrating sustainability is equally important to maintain relationships with clients and partners.
Perhaps more importantly, though, busin... Continue Reading
In order to avoid a drawn out sale process and to preserve the workforce and ethos of their business, many retiring business owners opt to look internally when seeking to find a successor, aiming for a smoother transition that disrupts the business as little as possible.
Choosing an internal successor often means the compensation arrangement will stretch over a few years, tied to the company's future performance. This approach ... Continue Reading
Exiting a business is rarely straightforward, and becomes particularly challenging when the sale process stalls indefinitely. This situation can lead to a sense of despair, potentially deterring ongoing efforts to find a suitable buyer.
Nonetheless, it's crucial to remain optimistic and persistent. A lack of immediate interest doesn't automatically render your business unmarketable or undesirable.
Reevaluating ... Continue Reading
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