Mercer & Hole’s Business blog - Exit strategies
Entrepreneurs’ relief extension - a welcome surprise from the Chancellor
Date: 1st April, 2010 | Author: Julian Dobbin | Comments: 0
The more observant blog readers amongst you, may already have seen comments made by myself, Cathy and Barry in Accountancy Age. One of my immediate reactions to watching the budget unfold was one of ‘relief’, due to the surprise announcement that entrepreneurs' relief would be doubled to £2m. Entrepreneurs' relief creates an effective tax rate of 10% on capital gains for individuals selling a business. Of course various conditions must be met, including - it must be a trading business and the entrepreneur must be actively involved with a holding of at least 5%. This is good news...
Exit strategy? - be prepared
Date: 10th September, 2007 | Author: Gary Farnes | Comments: 0
It may sound obvious, but I thought I would raise the issue of ‘preparation’ in business sales as many transactions I have been involved in recently have illustrated a distinct lack of it. I have written previously about making the business as autonomous as possible from the current owners – this is the key method to successfully inflate your sales price. There are several other simple procedures which a vendor should undertake...
Make yourself Invisible!
Date: 14th May, 2007 | Author: Gary Farnes | Comments: 0
The most simple way to add value to your small / medium size enterprise is to make yourself, as the owner, as un-important to the business as possible. Contract negotiations – Let someone else do it Finances – Read the accounts, don’t prepare them Customer relationships – Leave it to your number 2 Making sales – Teach somebody else Whilst this is extreme, the principle is still important. The owner should provide strategic guidance, ensure relevant controls are in place and supply relevant training to staff. If the owner is too important in any of the operational areas mentioned above,...
