- "In the last 20 years our business has changed considerably…and as the focus of our business has changed, Bird Luckin have moved with us."
Alex Tanner, George Tanner (Shalford) Ltd - "Bird Luckin has looked after us incredibly well for over 60 years, they are pro-active and innovational - meeting all our needs to help us achieve our aims."
Richard Stubbings, Cliffords Limited - "I can honestly say that Bird Luckin are the best firm of accountants and auditors I have ever dealt with - and I don't say that lightly!"
Colin Webb, Walthamstow Stadium - "It's important for us to know that we will always be able to contact the right people to give us the right advice and support."
Jane Bennett, Bennetts Funeral Directors - "Although we deal mainly with one Partner … we also know that if we need to contact someone else who is a specialist in another area, we can get the advice we need quickly and easily"
Jeremy Ruggles, J.S. Wright & Sons Ltd - "Bird Luckin got us to a stage which would have taken us months - if not years - to reach on our own, and they got us there in a matter of weeks"
Matthew Sullivan, SNC Ltd - "You can be a good accountant, but if you don't have an understanding of the industry it can be very difficult. "There are two or three people we have regular contact with at Bird Luckin who know our business well, and it makes a difference.""
Robert Church, W A Church (Bures) Ltd - "The work which Bird Luckin has done for Boddingtons over the past few months has helped shape our future direction for the better."
John Warner, Chief Executive, Boddingtons Ltd - "Bird Luckin has acted for us since our inception 10 years ago. They have a very 'can do' yet highly professional attitude - we are very appreciative of their support and advice over the years."
Marlon Fox, Outlook Property Ltd
Planning your exit strategy
Planning a strategy to maximise the assets of your business on sale requires patient, advance planning. You should start considering the issues a good five years before you plan to sell.
Most small businesses exit by trade sale, though other options include floating it on a stock exchange such as the Alternative Investment Market.
The Small Business Service advises businesspeople who want to sell to contact Business Transfer Agents who specialise in buying and selling businesses. They are listed in local telephone directories. Some estate agents also deal with the sale and purchase of businesses.
Consultation phase
You should also consult solicitors, accountants and independent financial advisers before selling your business.
Smaller firms are usually reliant on a few key members of staff to run the business successfully - but it is important when selling a business that potential buyers see plenty of valuable, tangible assets that stand out whether your key employees remain or not.
As an example, a service-sector business might rely on a few key employees charging for their time and contacts. Your business might be perceived to not be worth very much without you.
In short if you are planning to sell the company in the foreseeable future, it is beneficial to develop products, services and systems that are not heavily dependent on you as an individual or upon key members of staff.
Do contact us if you would like further help or advice on this subject.