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When trouble looms phoenix your company

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So, the US Federal Reserve (broadly equivalent to the Bank of England – it influences the availability and cost of money and credit in the US economy) is about to bail out Fanny Mae and Freddie Mac, the two largest US mortgage providers. This comes on the back of the Bank of England helping, in no small way, Northern Rock. One rule for them, anothe...

Submitted by Dennis Lennie

Published 01 November 2008

Making the most of a downwardly mobile market

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CRISIS? WHAT CRISIS?When the economy takes a downward turn you must look for opportunities to succeed, not assume you will fail, explains Peter Savage The trade press has been rife recently with stories of doom and gloom. Speculation abounds about more post houses hitting the wall as the economy continues to slide. So I thought it was timely to giv...

Submitted by Dennis Lennie

Published 01 October 2008

Selling your business Part 3. Gearing up for sale

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In the final article in his series about preparing your business for sale, Peter Savage outlines the strategy that leads to success even in a slowing economy. Last month we were left with a conundrum: how do you sell a business when the company clearly has a value but the market, and consequently the performance of the business, is in reverse? This...

Submitted by Dennis Lennie

Published 01 September 2008

Selling your business part 2 of 3

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VALUES AFFECTED BY FACTS OR ASSUMPTIONSIn the second of his series of three articles about preparing your business for sale, Peter Savage explains the ins and outs of valuing businesses. Last month we looked into some basic calculations that are used to value companies. This month I will try to put some of those principles into practice. I will loo...

Submitted by Dennis Lennie

Published 01 August 2008

Selling your business Part 1 of 3

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In this first of three articles on selling a business, Peter Savage explains why it is not easy to determine the true value of a businessThe industry buzzed this month with news that Simon Meikle at Mitcorp was selling out to fellow reseller CVP. Amounts, money valuations, multiples were all bandied around so I thought it a good time to run over so...

Submitted by Dennis Lennie

Published 01 July 2008

Lender of the last resort or good use of your assets

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Recently several people have asked me why companies use factoring or invoice discounting as a way of dealing with debtors. “Are they in trouble?” and “Is it the last straw before throwing in the towel?” were the most common questions. So I thought I would talk you through these types of sales finance, dispelling a few myths by explaining when they...

Submitted by Dennis Lennie

Published 01 June 2008

Setting up in business: Le Christmas Crunch

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Well, I just fancied having a break as we have been slogging away for almost six months – planning, starting, measuring and then employing. So, phew, it’s the Christmas break. Well haven’t we done well to get here? You certainly have. And now for a little topical help: the credit crunch that is currently the focus of so many media reports. What doe...

Submitted by Dennis Lennie

Published 01 May 2008

Setting up in business: Taking on staff

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Peter Savage continues his series, based on 19 years’ experience, guiding you through the stages and decisions that come with establishing your own business. So far we have looked at getting going, those anxious first days and being pro-active about building your business. Hopefully, in your fledgling company, and through your hard work and plannin...

Submitted by Dennis Lennie

Published 01 March 2008