Having built and sold three businesses, Steve Bird, one of our Business Growth Advisors, has both professional knowledge and practical experience to share with SME owners. Here he looks at practical steps to grow and exit your business:
Happy New Year to you all! Wishing you the very best for 2025. Our CEO, Martin Brown shares his reflections on 2024 and looks ahead to how SMEs can achieve success in 2025
Many business owners are already grappling with the recent budget changes, including increases in minimum wage levels, National Insurance (NI) contributions, and Capital Gains Tax (CGT) on business sales. However, for those considering selling their business soon—or even those currently in the process—there’s a further consequence to consider. It hasn’t made as many headlines but: the value of your business may have just taken a significant hit.
The much-anticipated Budget landed, and with it, a series of changes that have business owners assessing their next move. Minimum wage rises, National Insurance contribution changes, and shifts in Capital Gains Tax all add up to a worrying time for business owners. If you’re an SME owner, you may find yourself mulling over The Clash’s eternal question: Should I stay, or should I go now?
Tell-tale signs of a weak or untrusted management team are when you get embroiled in the day-to-day operational minutia, where everyone looks at you to solve problems and your role is mainly answering queries and fixing the mistakes made by others.
You’ve set up a business with a friend or connection, to keep things fair you split things, including the ownership of the business, 50:50. But what happens if you disagree on major decisions? Particularly if one of you decides you no longer want to be part of the business going forwards? We’ve worked with businesses in exactly this situation.
It often comes as a shock to business owners when they learn the day they legally complete the sale of their business is not the day they actually walk away. One of our experienced Business Growth Advisors, Geoff Gwynn, explains more.
The major overarching lesson is that you need professional help, and that help creates value in the transaction. You need to trust that your chosen professional help can save you money, like a good lawyer protecting your personal warranties, or growth advisor who can make you money by helping you set a price that exceeds your expectations.
We know how to prepare and help you get your business into shape for exit. We work with some excellent Corporate Finance House partners, wealth managers, solicitors and tax advisors and, we can advise on all the various exit routes open to business owners.