Planning an exit from your family run business

When it comes to family businesses, it may seem logical that ownership will one day transfer to the next generation. But the realities are not so clear cut. For one, offspring may have very different ideas about their career plans and family expectations may even be viewed as a burden. One client’s son (we’ll call him Client X Jr) announced … Read More

Good professional advice

Why good, professional advice is vital to your business Your accountants and your solicitors should be your best friends in business and your ‘go to’ people for advice. They should be able to guide you through business decisions. If you are not getting that support, we know plenty who can help. Some accountants are happy just to do your annual … Read More

The good, the bad and the gearing

It is ideal to have no debt; ……or is it ? Even some of the world’s wealthiest people will borrow money to buy their aeroplanes, whilst having significant deposits in the bank. Why ? so they maximise their liquidity and have available cash for all eventualities, hopefully for opportunities but equally for those rainy days. and they are happy to … Read More

Related diversification

With a related diversification strategy you have the advantage of understanding the business and of knowing what the industry opportunities are. Consider these in the context of integrating benefits into a much stronger and higher value proposition for your customers. So, does adding the new products or services provide you with a leveraged opportunity? For example, if you are a … Read More

Diversification Costs

We have all acted on opportunities, generally through related products and services to our main business. The question is how quickly can you turn the opportunity into profit. How mature is the market you are entering ? Do we produce or outsource ? A new department will take up space (& rates , utilities) , machinery capital costs, specialist labour … Read More

Opportunity Cost

Definition : A benefit, profit, or value of something that must be given up to acquire or achieve something else. Every action, choice, or decision has an associated opportunity cost. It’s not just where to spend your money which building, machine, company or item to buy. More importantly, it is time and how you spend it. Whether the time you … Read More