Insights from the Smart Financial team
In the exciting early days of starting your business, many business owners never truly think about leaving it. You may think that you’ll just cross the bridge when you get there, but the truth is that business exit planning helps put you in control of your business and consequently, your personal life. Being in control is much easier when you write … Read More
If you are the owner-manager of a small business you probably have a thought somewhere in your mind that one day, at some point, you are going to sell. But, why?! Whatever the reason, this is the first and most important question we always ask our small business owner-manager clients: Why?! Why do you want to sell? Everything else we … Read More
All business owners want to factor growth into their plans. If you’re a wholesaler, you’ll face some unique challenges but should be able to build in parameters that will allow you to grow when you’re ready. Not only will this ensure short term success, but should also get you the price you need when you’re ready to sell. Six Ways for … Read More
Selling your business is one of the most important transactions you’re likely to make and yet it’s often a process that is overlooked until the very point you are ready to sell. Although it might sound premature, the truth is you should build value and sellability into the heart of your business as you’re starting out, long before you reach … Read More
While your day-to-day focus is on growing and building your business – taking care of your customers, fulfilling their needs and creating demand for your products, exit planning may seem like a distant requirement. We’d argue that exit planning is actually a vital part of your business plan, helping you work towards a successful sale or legacy. Taking that approach, your … Read More
Each month, we put your most pressing financial planning questions to our CEO Steve Martin and COO Dr Mark Todman, in our Ask Smart Financial blog series. If you’d like expert advice from Steve or Mark simply tweet us using #AskSmartFinancial, email us or even add your question as a comment below and we’ll blog the answer in a future … Read More
There’s a short answer to this question – yes, of course. The longer answer is yes…but can you ensure the best selling price, the smoothest transition and the avoidance of legal or tax implications? Prepare Early Firstly, whether you want to sell your business alone or with the help of a specialist, you should plan your exit in good time. … Read More
Running a business is a very involved process, and can take most of your attention on a day-to-day basis. You may not even have thought about what would happen if you suddenly became incapacitated to the point you couldn’t run your business for a period of time – or permanently. What if, for example, you suddenly became seriously ill and … Read More
The law firm landscape is one of the most rapidly-changing in the UK today. If your firm, like many, is a smaller practice with four or fewer partners, you’re at risk of disappearing as small firms are swallowed up by larger firms with lots of capital available, wanting to grab a bigger slice of the market. What do these challenges … Read More
