Every business has a finite lifespan. Some may last for decades, and some may only last a couple of years. As the owner of a business, the life of your business is likely to be strongly aligned with your own life goals and personal plans for the future. When the time comes to sell up,
We explain how scaling up your business is a great way to keep pace with the current financial environment. We are all living in a low yield/high asset price environment due to structural shifts across the world which has seen central banks willing to print enormous amounts of money to prop up the system. The
The Business Smith Family Ltd* is a successful family business which has been designing and manufacturing commercial retail fittings for over 30 years. It is headed up by husband and wife team, Bridget and Tom, and their daughter is also a manager in the business. The
I’m sure you’ve heard it before, but its advice worth repeating: every business should have an exit strategy. If 2020 has taught us anything it’s to expect the unexpected – who knew that life’s curve balls could include a worldwide pandemic? Businesses with an exit strategy are undoubtedly better positioned to roll with the punches
Family-owned businesses play a fundamental role in the global economy – but there are challenges to ensuring that their success continues from generation to generation. The list of the top 750 family businesses globally released by family capital in 2019 has many familiar names with a long history of family ownership: US company Walmart, founded
People in small business today, especially start-up business owners, often struggle to balance work and family pressures. A typical scenario involves starting work early in the day, finishing late, spending dinner with family and then working late into the night to complete accounts, pay bills, quote on jobs etc. Is this you? One of the
Is your will your farm succession plan? Unfortunately for many privately-owned farming enterprises, the preparation of their wills is their only attempt to address family succession. According to recent research, only 50% of farming enterprises have started to discuss succession, let alone prepared an effective succession plan. We all know succession is a complex and
We previously introduced the concept of the ‘Business Value Gap’ to help in assessing the difference between the value of a business today and what it needs to be at the time of sale. Now UHY Haines Norton’s Business Valuations specialist Kerry Tizard presents a case study showing the Business Value Gap in action. I
Tim Livingstone explains why every business should have a succession plan in place and what business owners should consider when developing one. Although studies show that businesses with succession plans experience higher growth and have a higher survival rate than those without, over half of New Zealand SMEs don’t have any succession plan in place.
While small- to medium-sized businesses make up a large and thriving part of New Zealand’s economy, statistics indicate that the majority of SMEs are missing a vital part of business strategy: an exit plan. Research such as that conducted by the MYOB Business Monitor finds that less than 40% of small- to medium-sized businesses have
