How to make a transfer stick (From The Wiltshire Gazette and Herald)

How to make a transfer stick

BUSINESS owners need to know what their company is worth when it comes to transferring a company.

Business Link Berkshire and Wiltshire says 83 per cent of small businesses facing transfer could fail because of the lack of a suitable successor or an exit plan.

Failures of transfers which could include the sale of a business to another firm or even the transfer of a business to another member of the family could have a big impact on the Wiltshire and national economies.

And of those companies which do manage to secure a buyer, a high percentage still fail to realise the expected price.

To help business owners and directors understand how a business is valued and what makes it attractive to buyers, Business Link Berkshire and Wiltshire is hosting a workshop at the Marsh Farm Hotel, Wootton Bassett on Thursday, November 17.

The workshop will provide the tools and techniques they need not only to value their business, but to also increase its worth.

Among the topics under discussion will be the many dos and don'ts of business transfer such as ensuring a smooth transaction, grooming a business for sale or transfer and how to attract people to buying a business.

The workshop will include a presentation panel with representatives from Morris Owen accountants, Thring Townsend solicitors and Business Link Berkshire and Wiltshire.

Jennie Brooks, business adviser at Business Link Berkshire and Wiltshire said: "Through our work with clients in Wiltshire we have seen that the smaller the number of staff the greater the chance of failure when it comes to business transfer.

"Smaller companies, those with fewer than 30 employees are not generally large enough to support the cost of a professionally trained management team or outside specialists to guide the enterprise through the process.

"These workshops will help owners and directors understand the knowledge they need to make sure their companies succeed in this, the third cycle of business.

"Business transfer is one of the most emotive areas of the business cycle but it is one that when brushed under the carpet puts a business in real peril." The cost of each workshop is £35.25. To book, contact Katie Green, marketing executive at BLBW on 01793 428 336 or email katie.green@blbw.co.uk