Business Partnership Corporate


Familiar face joins Business Partnership board

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Regional partner Paul Dodgshon has been appointed to the board of Business Partnership (Management) Limited.

Paul Dodgshon

Paul Dodgshon

In addition to his executive responsibilities, Paul who covers the Manchester Central, South Cheshire, Staffordshire, Shropshire and Mid Wales areas for Business Partnership and Business Partnership Corporate, also has an equity stake in the company.

Chairman Alistair Glaze said: “We look forward to working with Paul over the coming years. His appointment reinforces our collective desire to embrace the experience of our younger regional partners,  whilst providing a plan which will underpin the future of the business into the next generation and beyond.”

Ian Craig has left the board and will continue as a shareholder and regional partner responsible for the Nottinghamshire and North West Leicestershire areas.

Mr Glaze added: “The board and I would like to thank Ian for all his support and wise counsel over the past 16 years. He remains a cherished colleague and will continue to provide training and support for new regional partners joining us.”

Business groups call for post EU vote clarity

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If we had a pound for every time we heard the old wartime adage: “Keep calm and carry on” since last Thursday’s Brexit vote, we’d all be on our sun loungers in the Maldives by now.

Experts, along with people who have an opinion on pretty much everything, have been hogging the airwaves and social media and it is easy to be bamboozled by the sheer volume of claims, counter claims and statistics.

Business Partnership has collated post June 23 responses from four high profile membership organisations.

Our first commentator is Mike Cherry, national chairman of the Federation of Small Businesses, who called for clarity on “what these decisions now mean for business, including how businesses will have access to the single market and the free movement of people and trade”.

Mr Cherry continued: “Nearly a quarter of FSB members export, with the majority exporting to the single market, which means access to 500 million potential consumers, more than 26 million businesses and is worth 11 trillion euros.”

Clarity is also the watchword for Dr Adam Marshall, acting director general of The British Chambers of Commerce.

“The immediate priorities for UK business are market stability and political clarity,” he said.

“All companies will expect swift, decisive, and coordinated action from the government and the Bank of England to stabilise markets if trading conditions or the availability of capital change dramatically.

“Business will also want to see a detailed plan to support the economy during the coming transition period – as confidence, investment, hiring and growth would all be deeply affected by a prolonged period of uncertainty. If ever there were a time to ditch the straightjacket of fiscal rules for investment in a better business infrastructure, this is it.”

A “nervy time” ahead was predicted by Simon Walker, director general of the Institute of Directors:

“It is imperative that our political leaders manage the transition as smoothly as possible,” said Mr Walker.

“The weeks and months ahead are going to be a nervy time for business leaders, so they have to know that the Government is focused on maintaining stability while a new relationship with the EU is established.

“British businesses are resilient and, with their characteristic ingenuity, they will weather this storm. Even once we have left, the EU will continue to be our biggest trading partner, and the first destination for many companies when they start to export. One thing the Government must do immediately is to guarantee the right to remain of EU citizens currently in the UK. Companies do not want to have to worry about losing valued staff.”

Completing our round up is Pip Wilkins, chief executive of the British Franchise Association, who said: “We want to be clear that for us, and for franchising, it is very much ‘business as usual’.

“We will continue to work closely with the European Franchise Federation and reap the opportunities that it affords to guide and inform on franchising across Europe.”

As the political wrangling rumbles on, Business Partnership’s regional partners will continue to work hard for their clients, whether they are buying or selling a business. Find the partner for your area on our Offices page.

New regional partners join our team

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Business Partnership Corporate has appointed new regional partners to its nationwide network of business brokers.

Stephen Boyle

Stephen Boyle

Stephen Boyle will be responsible for the Surrey and North East Hampshire regions while John Knight will be covering Birmingham South, Wolverhampton and the West Midlands. Also joining our vastly experienced team is Raymond Blin, who will look after Scotland West.

After spending many years in the building products industry, Stephen studied for a Masters degree in business administration at De Montfort University in Leicester and moved into the sales and distribution sectors. He has also been a business mentor for the Prince’s Trust.

Appointed as managing director of a newly formed concrete company, he was tasked with generating sales from scratch. When the firm had grown significantly after five years, he decided it was time to strike out on his own.

Stephen’s first business in the recruitment sector turned over more than £250,000 in its first year. He went on to own and run other types of companies and fully appreciates the importance of having someone on your side when selling your business.

John Knight

John Knight

A serial entrepreneur, John has launched and developed several companies. After gaining a BA (Hons) degree in graphic design, he began a career in advertising, marketing and brand licensing and, over the past 30 years, has been instrumental in building and selling four of his own small businesses.

John, who is a member of the Institute of Directors, has a thorough understanding of all aspects of growing and developing a business.

“As well as being a creative and lateral thinker, I’m service-led and keen to use my experience to help clients achieve the maximum exit value for their business,” said John.

Raymond Blin

Raymond Blin.

Raymond was formerly national operations partner for two of the UK’s top ten accountancy and business services firms and has also operated in the business recovery and corporate finance sectors.

“My specialism is in strategic management with particular emphasis on assisting companies to grow and I can also help to formalise exit strategies and source potential buyers,” he said.

Working alongside Raymond on the administration and marketing side will be his partner Fiona Best, who has logistics, scheduling and planning experience having run her own fashion and events business for many years.

For full contact details for our new regional partners, please visit our Offices page.

A different approach to selling businesses

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It is all too easy to view the sale of a client’s business as the end of the road – but we all know that does not have to be the case.

Business Partnership can certainly vouch for that as we have had 30 years experience in fine-tuning our approach to the sale and purchase of businesses.

We are keen to build mutually beneficial relationships with accountants throughout the UK.

To start that conversation, we would like to share with you some of the key features we have found to smooth the way to a successful business sale.

With the advent of online trading and the volume and rate at which businesses are changing hands, you may think that the process would be simple and painless.

However, the motivations and emotions involved are strong and the path from making the decision to go to market to actually selling a business is often not without complications.

To address the many and varied issues involved, over the coming weeks we’ll be publishing a series of articles under the following headings: Professional, Hand holding, Support, Trust, Informed and Collaborate.

If you would like to contact a Business Partnership regional partner in your region, visit our Offices page.

A Budget for the young generation – of entrepreneurs?

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After the headlines and sound bites comes the task few of us would envy – picking through the fine details of Chancellor George Osborne’s eighth Budget.  The proposed sugar tax predictably grabbed the tabloids’ attention but many of the more heavyweight commentators have chosen to focus on the implications for Britain’s small businesses including newsagents in Nuneaton, corner shops in Barnstaple and hairdressers in Leeds.

Most agree that small businesses are the big winners following the announcement that 630,000 small businesses will pay no business rates at all from 2017.

The annual threshold for 100 per cent relief on business rates for small firms will rise from £6,000 to £12,000 and the higher rate from £18,000 to £51,000. Mr Osborne claims the reduction will save small businesses some £7 billion per year.

The Chancellor didn’t hang around to introduce a change to commercial stamp duty, which came into force at midnight on March 17. The rate is now nought per cent on purchases up to £150,000, two per cent on the next £100,000 and a five per cent top rate above £250,000. There is also a new two per cent rate for high value leases with a net present value above £5 million.

Also of significant interest to SMEs is the news that the self-employed will no longer have to pay class two national insurance contributions, which will be abolished from April 2018. Businesses of all sizes will also be relieved that there is no increase in fuel duty.

At Business Partnership, we believe the increase in the small business rate relief threshold will have a significant impact on the profitability of small retail businesses, which in turn will help business owners to realise a higher value when they come to sell their business.

Long term confidence regarding small business rate relief will breed confidence in the High Street which will improve the marketability of these types of businesses. In recent years they have become less attractive to new buyers, especially younger generation buyers.

A reduction in corporation tax to 17 per cent by 2020 will allow small businesses to retain more profit which provides cash flow. This in turn can be reinvested to achieve growth and enhance their value on sale.

The Chancellor has looked after small businesses generally which will make the sector more attractive at the point of sale. This will hopefully encourage young investors to start or purchase a business as an alternative to employment.

If you are considering buying or selling a business, contact Business Partnership’s team of experts, who are based across the UK.

Selling a business? Be aware of possible tax changes

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The Chancellor’s Budget and Autumn Statement always contain plenty of substance for writers and analysts from health to housing and the headline grabbing U-turn on tax credits.

However, the devil is in the detail and one proposed measure which may have slipped your notice in 2015 among all the numbers and percentage points is one affecting Entrepreneurs’ Relief.

If you are selling a business, an important factor will be whether or not you will qualify for the scheme, which is open to directors who own five per cent or more of a company.

It allows them to enjoy a 10 per cent tax rate on capital gains up to a lifetime limit of £10 million, which compares with the 28 per cent of tax payable without the relief.

If you are selling all, or even part, of your business, the following must apply:

  • You are a sole trader or business partner;
  • You have owned the business for at least one year before the date you sell/close it;
  • You sell or dispose of your business assets within three years after selling or closing the business

Selling shares? Then the following criteria must apply for at least one year before they are sold:

  • You have at least five per cent of the shares and voting rights
  • You are an employee or director of the company or one in the same group
  • The company’s main activities are in trading

George Osborne and his Treasury team are concerned that members of management teams who do not pass the five per cent “personal ownership” test are teaming up with other individuals to form a management company. This shell would own at least 10 percent of the trading company nominal share capital, allowing for the same rate of tax relief as Entrepreneurs’ Relief under the rules relating to joint ventures.

The Chancellor is keen to take steps to ensure relief was “only available to those selling genuine stakes in businesses” though tax experts have warned that closing the loophole could deter would-be investors from backing young companies.

A consultation document on company dividends has been published by HMRC. The closing date for comments is February 3 and the legislation under the Finance Bill is planned to take effect from April 6.

Therefore, it is best to be prepared. If you are considering a solvent liquidation to take your money out of the company at 10 per cent tax, you may wish to do this before April 2016.

Remember, if you are thinking of selling a business, you should always seek professional advice as tax rules do change.

Do you really know the value of your business?

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Whether you’re planning to sell your business or would like it valued for a potential sale at a later date, it all hinges on one key question – why would anyone want to buy it?

Imagine the impact on your decision if we could show you how to make your business significantly more appealing than the average company on the market.

Business Partnership Corporate has analysed 20,000 businesses – and those with a Value Builder Score of more than 80 out of a possible 100 receive offers that are 71 per cent higher than those with a lower score.

It is simple to start. Just complete our free and confidential Value Builder™ survey and you will receive a Value Builder Score™ out of 100 with instructions to interpret your results.

Understanding why your business is valuable may require detailed explanation so a local Business Partnership Corporate advisor will provide a comprehensive review of your report.

The result – you will be better placed to decide if you wish to grow or sell your business.

You may wish to sell immediately to liberate your time, reinvest in a new venture or release family wealth.

Or you may wish to consider implementing longer term strategies to increase the value of your business whether this is changing the business structure, driving growth, implementing new systems and services or the recruitment, retention and training of staff.

Assessing your score will provide an overall picture and help shape your vision for the future of your business.

To see how Value Builder works, watch our short video.

One of our partners will contact you or to Get Your Score click here.

Business Partnership Corporate service launched

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Business Partnership has expanded into the corporate market.

Business Partnership Corporate, which has its own brand identity and website, has been launched to meet the requirements of small to medium companies and businesses up to a turnover of £5 million.

Director John Hatt said: “This is a natural step as the company has enjoyed considerable growth over the past two years.

“Our regional partners across the UK have an in-depth knowledge of the marketplace and are passionate about securing the best possible outcomes for buyers and sellers alike.

“We are also the only company in the sector to provide 24/7 feedback via a client engagement area on the Business Partnership website.

“From our experience, the range of people both buying and selling businesses is incredibly varied.

“They include young entrepreneurs leaving college or university full of great ideas, people who want to become their own boss after taking redundancy and older people with shrinking pension pots who would like to pass something on to their children.”

We’ve rebranded

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We have rebranded the Business Partnership and have a new website to match. it’s all part of a fresh new image.

We’ve also dropped ‘the’ from our name – but rest assured, we’re keeping the same ethics and values that have seen us grow to become a unique national network of regional business buying and selling experts.