Exit strategies: Selecting an internal successor

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

Restarting a stalled sale process

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

Spring Budget 2024: The key takeaways for SMEs

With this week’s Spring Budget likely to be the incumbent Conservative government’s final major fiscal intervention before the next general election, UK SME owners will have been keenly watching for any measures that will impact them.

While it may ultimately have stopped short of any major new policies or changes, Chancellor Jeremy Hunt’s budget did bring with it several announcements that will be pertinent to small business ... Continue Reading

Why entrepreneurs should consider buying an existing business

Growth opportunities for small businesses are tightly limited in the current economic climate, with organic growth particularly difficult amid high inflation and low consumer confidence. One of the few reliable routes to growth that companies and entrepreneurs can still turn to is M&A and, with distress high and many businesses struggling to access growth funding, there are no shortage of acquisition opportunities available to those with the mean... Continue Reading

Warning signs to look for during an acquisition

With the UK remaining in an ongoing state of economic turmoil, small businesses may find it hard to deliver on their growth potential through organic means. With budgets likely to be tight, acquisitions may not be the most obvious choice for small and medium-sized firms seeking to grow, but, providing companies have a coherent acquisitive growth strategy and can access the requisite financing, M&A can be one of the most reliable means of attainin... Continue Reading

Utilising software for accounting and financial management

As businesses expand, the tasks of accounting and financial management become increasingly intricate and time-consuming. In such scenarios, small business owners often harbor concerns about the potential for costly errors with far-reaching consequences.

To streamline accounting processes in alignment with growth, many business owners turn to accounting software. These software solutions offer scalable, personalised options that enhan... Continue Reading

Digital transformation for small businesses

The business landscape is rapidly undergoing digitisation with the continuous evolution of new technologies. Consequently, digital transformation is fuelling substantial and swift growth for numerous companies across various industries and diverse processes.

While the term "digital transformation" might evoke images of large corporations, towering office buildings, and teams of IT professionals tirelessly working on digital strategi... Continue Reading

Strategies for retailers to beat the cost-of-living crisis

Retailers are facing severe challenges in the current climate. The cost-of-living crisis has led to the vast majority of consumers cutting back on their discretionary spending, particularly for the kind of impulse and luxury items that many smaller retailers specialise in.

At the same time, with budgets so tight and concerns such as sustainability more prominent than ever, consumers have increasingly high expectations of the busine... Continue Reading

10 tips for better employee onboarding

Inefficient onboarding practices can lead to significant financial losses for small and medium-sized enterprises (SMEs) in the UK. Many employees either decline job offers or leave their positions within the first six months due to subpar onboarding experiences. This not only incurs recruitment costs but also tarnishes the company's reputation as an employer.

It's imperative to recognise that merely hiring employees is ins... Continue Reading

Selling to an Employee Ownership Trust

For business owners exiting in the current environment, one of the key emerging considerations is a sale that helps preserve the business’ ethos, values and, perhaps most importantly, workforce once the deal has gone through.

While attracting a strong valuation is, of course, still a primary concern for outgoing owners, an increasing number are placing greater value on ensuring the business is passed into the hands of a new owner... Continue Reading

Avoiding the pitfalls of first-time business sellers

If you're selling a business for the first time, there are several potential pitfalls to navigate in order to maximise sale value while ensuring a positive experience for the buyer. Here are five common mistakes that sellers often make and some guidance on ways of avoiding them.

Timing Is Crucial: While it's impossible to predict the perfect moment to sell your business, failing to plan ahead or waiting too long can... Continue Reading

Selling to an EOT – The Benefits and Challenges

While the current business climate may not appear welcoming for owners looking to exit, there are viable alternatives that offer significant advantages and sidestep some of the more challenging aspects of selling a business.

One highly favoured option in this regard is selling to an Employee Ownership Trust (EOT). An EOT represents an indirect form of employee ownership where a trust holds the controlling stake in a company on behal... Continue Reading

E-Commerce Tips for Small Retailers

In such a tough trading environment for retailers – and for small companies in general – SME retail firms will need to explore every available avenue to attract customers and generate sales that enable them to both survive and grow.

For some brick-and-mortar retailers, this may mean exploring e-commerce, or, if they already have online operations, expanding these to draw in a wide customer base and make the most of the post-COVID... Continue Reading

Management Buy-In: A viable acquisition model?

In contrast to Management Buy-Outs (MBOs), Management Buy-Ins (MBIs) are a less frequent mode of acquisition. While this process presents notable challenges, under suitable circumstances, MBIs can be advantageous for all stakeholders involved: the incoming management team, the outgoing owners, the financiers of the deal, and the target company.

This article outlines the essence of an MBI, enumerates its merits, drawbacks, and hurdles... Continue Reading

How to improve your brand engagement

A company can spend significant amounts of time and money developing their brand and building their image, whether that’s online or in-store. However, if they can’t manage to get noticed, then all this work might be something of a waste.

In order to make the most of your brand and engage potential customers, it is vital to get noticed and get the word out about what your business is all about. Creativity and originality are cru... Continue Reading