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Business Strategy

Whether you are just starting out in business, or you have been operating for a while, having a strategy laid out is essential. Businesses are not static, they need to be constantly evolving and adapting to change. Business strategies cover all facets of the business: financial; operational; customers; employees; and innovation.

The process of setting up strategies makes business owners and their employees think about the entire business and its direction, rather than focusing on the latest urgent task. Having strategies in place helps the business owner and its employees:

  • Evaluate the business
  • Focus on the key issues
  • Set goals and priorities across the entire business
  • Develop accountability
  • Manage change
  • Plan and manage cash flow

No matter what type of business you operate, having a strong business adviser to support and guide you through the process is extremely beneficial for a positive outcome. Our team at BLG care about our clients and have the experience and skills to formulate business strategies that drive success. Some of the common strategic services BLG provides to our clients are listed below.

Business Strategy Services

Each business will have different opportunities and face their own unique challenges. The strategies adopted will differ depending on the circumstances.

Buying a Business

Buying another business can be a great way to grow or diversify your business. Whether you are looking to expand into a new location or a new market, buying an established business will kick start your plans. Buying a business is not without its challenges and the process can be complex. Our team has extensive experience in business acquisitions where they can assist you with:

  • Understanding the valuation of the business
  • Performing due diligence on the business you are buying
  • Forecasting the financial impacts and cash flow requirements of buying the business
  • Negotiating and structuring the deal to best suit you
  • Working with your other professionals and advisers, including your solicitor and your finance provider, to help you get the best outcome
  • Any regulation or compliance requirements of buying the business

Asset Protection

It’s natural for business owners to be concerned about protecting their personal assets and wealth. While businesses can be risky ventures, with adequate safeguards and strategies put in place you have the ability to protect what is yours.

BLG Business Advisers maintain a deep understanding of each of our client’s businesses and regularly conduct a review of their existing business and personal assets, liabilities and entities. We also have discussions about their short and long term goals, and this allows us to recommend structures that:

  • Aim to contain business risk
  • Provide for personal asset protection
  • Are efficient for a taxation perspective
  • Allow for business succession if that is a key issue for the client
  • Consider any regulatory implications
  • Minimise compliance costs where possible

Selling a Business

Your business likely represents one of your most significant assets, so selling it can cause both excitement and trepidation. Trying to maximise the amount you receive when selling your business and the whole sales process can seem quite daunting – but it doesn’t have to be.

The key to a successful business sale is preparation. The process can be lengthy, intrusive and emotional, but having strong advisers who understand your situation throughout the process really does help in achieving a positive outcome. We have guided many of our clients through this process, where we can:

  • Help you understand the valuation of your business
  • Guide you and assist in preparing your business for sale
  • Help you through the due diligence process
  • Negotiate and structure the deal to best suit you
  • Advise you on the taxation outcomes of your business sale
  • Advise and guide you with plans for life after the business is sold
  • Work with your other advisers, including your solicitor, to help you get the best outcome

Forecasting, Cash Flow & Analysis

Business owners are presented with opportunities on a regular basis. Whether it is launching into a new product line, implementing a new process, or acquiring a new business. Making informed decisions about these opportunities can mean the difference between their success or failure.  While not all businesses have the in-house capacity or knowledge to carry out accurate forecasting and analysis, it’s worthwhile to source professional assistance. Our team provide business advisory services that include extensive experience in forecasting, cash flow and business scenario analysis.  They can assist you with:

  • Annual budgeting and regular reforecasting of business performance
  • Review and assessment of new business opportunities
  • Due diligence of potential business purchases
  • Assessing the impacts of new initiatives or improvements in business processes
  • Establishing KPIs and measurement systems
  • Managing working capital and cash flow

Succession Planning

It is natural for business owners to want their business to exist beyond their working life, particularly when it comes to a family business. Succession planning is extremely valuable in ensuring your business continues on, by having potential successors and an exit strategy in place that will give the business longevity.

It is important to start planning for your succession early and to prepare the business for life after you. Planning who will take over the business after you can be very challenging, especially if one or two people have been central to the business and its success to date or if it’s a family business. However ensuring the people in key roles have the right skills is extremely important.

BLG has countless experience in navigating business owners through succession situations, and we assist you with:

  • Exploring exit strategies
  • Understanding valuation issues
  • Tax planning strategies
  • People planning for successors and business continuity
  • Retirement planning
  • Estate planning advice