Guidance as information (in no particular order)

Selling your business

Unless you already have a buyer waiting, I believe you should begin preparing your business for sale at least 12–24 months before you plan to exit.

Why? Because buyers want to see a business that is well organised, financially healthy, and capable of operating successfully without relying on the owner. They will expect to see up-to-date accounts, well-managed debtors, and a management team with the ability to run the business independently.

One of the least reassuring things a seller can say is, "The business couldn't run without me." If that's the case, what exactly is the buyer purchasing? A business that has been properly prepared for sale is often worth significantly more than one that hasn't. Preparation reduces uncertainty, builds buyer confidence, and can lead to a smoother sale process and a better outcome.

While your accountant plays an important role in ensuring your financial records are accurate and up to date, they may not be the best person to value your business. Instead, ask them to help present your financial position clearly, then speak with a business sale or exit planning specialist for advice on valuation and preparing your business for market.

TIP: Many advisers offer an initial, no-obligation discussion to review your business, explain the preparation process, and outline the likely costs before you decide whether to engage their services.

 What is the Internet and what is the web?  

(very basic description)  

The INTERNET is a collection of exchanges, data exchanges, servers,  routers, and cables, (including under the sea to each country), that  are all linked together as a network.  TiP: Think of the internet as a road network for your business traffic.  

The WEB (world wide web or www) is how we use the  internet to send data to each other (search engines, calls, images,  emails, web conferencing, video,) all using the Internet network.  TiP: Think of anything in your business (laptops, Pc's, video, phone calls) as a vehicle that you use  on your (internet) road network.

 CONCLUSION. If your Internet connection is the road to your business, the size and  speed of your connection (bandwidth) will define what vehicles will be  able to go back and forth on your road, to your business, today and in  the future, without stopping or slowing down.

TIP: Whatever connection you are offered  get the supplier to prove the speed before you buy.  

We recommend 1Gb minimum.

Business Funding

There are many types of funding available dependent on your need and financial business position and there is not one way to fund that is perfect for every business, but most will offer better options than your bank manager.

You may want funds for acquisition or growth, or just to pay the VAT bill or wage bill.  

All requirements would be looked at in their entirety and then options made available.

This is one area that requires advice from an expert, someone whom has access to fund companies and can take you and your requirement to them.  

Many will offer initial advice on the phone.

TIP: be completely honest why you need the funding, and honest with any question you are asked.  Most business financial companies understand businesses needs cash and many reasons why, but if they feel that you have not been totally honest they will walk away.

See 'information' for a PDF on 

'18 types of funding for SME's'

Two things to consider, if you have less than 5 handsets you are not seen as a commercial customer by ANY supplier so will not get the best deal and the best deals are NEVER in the high street.  As with energy you have to provide your old bills and have the time to answer questions.  

TIP:: In Addition, consider your date usage and ensure its shared around your employees and not fixed to a single phone.  (Example, A salesperson can use all their data while admin staff or engineers may not use their full allocation, suddenly you are charged more for the salespersons phone).

 A SWOT analysis (strengths weaknesses opportunities threats) has long been recognised as a useful business planning tool. While our founder ceased using it many years ago because it seemed outdated, it can still provide valuable insights when completed honestly and used in the right way.

The key to a successful SWOT analysis is openness. If those involved are not prepared to answer each section honestly, the exercise quickly loses its value.

Consider using it as a way to capture how you and your management team view the business at a particular point in time. Encourage everyone to contribute freely, without fear of criticism or repercussions. In our founder's experience, once SWOT became a tool for judging individuals rather than improving the business, it ceased to be effective.

When used as part of an open and constructive management discussion, a SWOT analysis can provide a useful snapshot of your business. It often highlights different perspectives, identifies opportunities for improvement, and generates ideas that may not otherwise have been considered.

TIP: Above all, be realistic. Focus on the facts, challenge assumptions, and avoid wishful thinking. An honest assessment is far more valuable than an optimistic one.

As with ALL grants 80% of the success is how you ask for a grant and 20% is why you want it, so talk to  an advisor in R&D grants. R&D Tax Credits can be claimed by almost any limited company investing in creating better 

products, processes, services, materials or devices, and the claims can range from £20,000 to 250,000.  However, less than 0.25% of SME Businesses have made R&D Tax claims according to the latest statistics.

Recognising and scoping R&D for Tax Credits requires a detailed knowledge of HMRC Guidelines and the experience of R&D claims. The first step is to ascertain that the company qualifies, scope out their R&D activities, identify scientific and technological 

advances and uncertainties, write the technical justifications document to support them 

claims and in dealing with HMRC. 

NOTE: Recently HMRC stated that 'compliance activity' is one of their main consideration when deciding on a grant.

TIP: Get advice from a R&D grant expert, without obligation, ask us for an initial introduction.

Ideally, these should be completed every year, if you are in a long term contract at least 6 months before renewal.  These are not difficult, but can be time consuming because you need to provide a bill for comparison and chat about your usage.

  NOTE: your existing supplier will ALWAYS come up with a better deal once they know you are doing a comparison (they will know because the information required for a comparison is rarely on the bill so they have to be contacted by a comparison company) don't be fooled, they will increase it over time (bad ones always will)when they should have given you the best deal before you had to look around.

TIP:  get an up to  date bill before you start the process and be prepared to spend some time chatting it through.

Key Performance Indicators (KPIs) are one of the most widely used business management tools. While they are often promoted as the answer to every business challenge, their real value comes from how they are used—not simply from measuring numbers.

At their core, KPIs help you compare performance over time. They can show whether a department, individual, product, marketing campaign, or any other part of the business is performing better or worse than it was last week, last month, or last year.

The most effective KPIs are those that are relevant to your business. Involve your management team in deciding what to measure. Your KPIs might include:

• Sales performance
• Marketing and advertising results
• Production output
• Engineer productivity
• Customer complaints
• Delivery performance
• Stock levels
• Profit margins

The figures themselves are only the starting point. The real value comes from understanding why they have changed.

Always consider KPIs in context. For example, if sales are down this month, there may be a perfectly reasonable explanation. Perhaps a quarter of your sales team were on training courses or annual leave, or a major customer delayed placing an order. Without understanding the reasons behind the figures, it's easy to reach the wrong conclusions and waste time solving problems that don't really exist.

TIP: KPIs should start conversations, not end them. Used well, they help you identify trends, make informed decisions, and improve performance. Used without context, they're simply numbers on a report.

Internet connections may be called ADSL, Broadband, direct fiber, indirect fiber. Bottom line its how your business connects to the world.

Personally I would always advise a 1GB connection as a minimum, but some of the speeds offered by some suppliers is getting faster.

(TIP:- Because many suppliers just sell others services, then invoice you with a margin, ensure the supplier has 24/7 support and ideally their own exchange(s), it may end up that your internet performs like a donkey when you needed a sports car, and when it does the support may be lacking)

Not sure about a supplier, ask for a managed introduction to a supplier

  10 Consultants in a room

If you ask 10 consultants the same question, you will probably receive 10 different answers. I know this because I was one of them. That does not necessarily mean any of them are right or wrong. Their answers are shaped by their own knowledge, experience, background, and perspective.

Today, with AI, there is a growing tendency to ask software for answers. There is nothing wrong with that. AI tools are constantly learning from the information they are given. However, when it comes to business advice, you often need more than a generic response. You need someone sitting opposite you who understands what you are going through, recognises your needs and restrictions, and has faced similar challenges before. You do not need advice that sounds as if it has come straight from a “Business 101” book. You need practical guidance from someone with real-world experience.

Thirty years ago, I started out as a technology advisor. That came from the two businesses I had built and sold, but I also understood finance, tax, VAT, operations, and the realities of running a business. Over the years, my knowledge and experience grew across many different areas because I continued to learn every day, including from my clients.

Consultants should learn every day because every client, every business, and every situation is different.

Tip: If you need an advisor or consultant, look for someone who is either a specialist in the area you need help with, or someone with many years of consulting experience who can advise across a range of business subjects.

Ideally, they should also have owned, managed, or worked closely with businesses over many years. Real experience matters.

This should be viewed as an investment NOT a cost. Far too many business see training as a cost, interference, or that it is simply not required, then wonder why the staff cannot perform as required or just leave.

Look at each department, can sales be helped with training, or engineers, or HR, .....or well any department.

If you have a good accountant (whom is not just a bookkeeper), training can be tax effective.

Inform your staff that you are looking at periodic training and schedule this for each department (TIP: - only 25% of the staff from each department at any time, so not to disrupt the working day)