The Global Financial Crisis (GFC) delayed the exit plans of the baby-boomer business owners, but their need to exit has not gone away. The value of the average business has been limited for a few key reasons:
Most businesses have been structured and operated with the tax legislation in mind; profit has been kept low to minimise tax.
Little effort has been invested in removing waste from the business.
Owners generally have wanted to fund their life-style, and even their children’s’ life-styles, rather that invest in growth.
Another factor is that the ability of some owner’s to manage a growing business has been limited and there has been a reluctance to learn about leadership or invest in consulting services to develop growth capacity.
There are ten steps that can be used to maximize the value of a business and these are outlined below. These steps can be grouped into three distinct phases:
TC Group progresses further in the Top 20 Accountancy Firms in the UK
In the most recent Accountancy Age Top 50+50 rankings, TC Group has leapt from 20th to 18th place compared to last year. This reflects the incredible momentum built over the past 12 months.
Paying Employees Early at Christmas? Here’s What UK Businesses Need to Know
Whether your organisation closes over Christmas, or you simply want to ensure employees are paid before the holiday break, it’s essential to handle early payroll correctly.
Hear from Ian Golding, Chief Digital Information & AI Officer, as he shares how the TC Central team is investing in the tools and tech stack to give our Partner Firms the digital infrastructure they need to thrive.