Whilst every business is unique, there are common issues and themes that affect businesses of all sectors, shape and size across our region.
I’m always keen to hear from our clients and local business leaders about what’s top of their current agenda when it comes to business concerns. I thought I’d share with you just a few of the recent conversations (excluding Brexit!) we’ve been having as a firm with the business and clients we work alongside – and reassure you you’re not alone!
“The growth of my business seems to have stalled and we seem to have reached a plateau. How do we push on again to hit the next milestone?”
“How do I access funding that is as both flexible and cost effective?”
“How do I maximise the profits that my business generates and how do I extract these as tax efficiently as possible with the correct structure in place?”
“I need to think about how I maximise the value from my business and have a plan in place regarding my succession and exit. Do I look to pass to the family or the management team, or will an external sale lead to greater returns? How much Capital Gains Tax will be due on exit and is there anything we do to mitigate?”
It probably won’t surprise you, but most conversations with business leaders are about the biggest asset within their business – their people! Have I got the right people in the right seats doing the right job? How do I improve their levels of engagement and motivation? How do we ensure that they are properly incentivised, recognised and rewarded? Do our people feel that they are truly valued and are being coached and developed so that they can be the best that they can be?
Some of the above topics have already been covered in previous articles by our team of specialists at Armstrong Watson and the others will be picked up and explored over the coming weeks.