Posted on 22 September 2016
As summer is (quickly) coming to end and autumn is almost upon us, the onset of darker mornings may force business owners to question why they are getting out of bed to face another day at work.
Could this be the perfect time for business owners to reassess what they are in business for and more importantly, what they want to achieve?
There are many reasons why people initially set up or buy businesses - maybe it is to safeguard an income stream, to provide a lifestyle for themselves and their family, or to create a valuable capital asset.
But whatever the original motivation, the autumn is a great time to do some soul searching about your business and what goals you want to achieve.
If the business is progressing well, should this progress be accelerated through investment in people, machinery, acquisitions of other businesses? Alternatively, should some or all of the value be “ring-fenced” through a sale? It may be worth considering what the business is currently worth.
These options, whilst by no means exhaustive, clearly raise many other questions which need to be answered in conjunction with an honest assessment of the owner’s objectives.
If you are considering an acquisition or exit in the near future and would like advice on the possible routes, please contact a member of the Corporate Finance team at Smith Cooper.