Originally written by Stephanie Spicer on Small Business
Regrettably what was previously in a lot of cases the ‘golden goose’ for the family does on divorce become the victim of undue attention.
In divorce proceedings the value of the parties’ interest in the business needs to be agreed and it has to be decided how this value should be reflected in the financial redistribution. In valuing the business there are different approaches that can be used but hand-in-hand with the valuation including the liquidity of the business. Obviously, there can be tax implications when money is extracted from a business so tax efficiency must also work in tandem with value and liquidity.
Up-to-date valuations must be used, while hope and future value can only be used in exceptional cases if it provides a fair outcome. Historical values are also relevant when considering matrimonial and non-matrimonial assets, and one needs to be aware that the court does not always accept that valuations provide a true picture of the businesses but act as a guide. An example of this is in the case of P V P in 2008 where the court valued a shareholding at £730,000 but the other shareholders subsequently offered to buy
Tag Archive for Business Management
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Karren Brady Q&A – 6 qualities of a successful entrepreneur
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
Baroness Karren Brady – best-known as Lord Sugar’s advisor on The Apprentice – is unwavering in her decision to go into the business world.
Small Business caught up with her as she addressed an audience of entrepreneurs in the VWorks co-working space at Bristol’s Village Hotel.
When asked what else she would be doing given the choice, she earnestly replied that there was nothing else she’d rather be doing, pointing out that “even if you’re a rock star, you have sing the same songs over and over again”.
In among the victories, the setbacks and the lighter moments, Brady shared six attributes that she thinks make a strong business owner.
Leadership
Karren Brady says that successful leadership is about knowing what to do when you don’t know what to do.
As a business owner and a parent, she taught her kids the ability to have independence, ambition and opinions of their own.
Ambition
In business you’ve got to carry on being a success and she praises Lord Sugar highly for that. On The Apprentice, when Lord Sugar is shown as being somewhere at 4am, he really is. He’s the first in the office and the last to leave, says Brady.
Determination
A key
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Corporate social responsibility: what is it and who benefits?
by Simon Joyce • • 0 Comments
Originally written by Simon Joyce on Small Business
A trend that has been gaining traction in businesses both large and small for the last ten years or so is the concept of corporate social responsibility.
Adopted globally by businesses of all sizes, corporate social responsibility (CSR) is clearly here to stay and for good reason.
For this trend to have stuck around, it obviously holds great merit. Be it for the business, clients, customers, even employees – or all of them equally, CSR has taken such hold, it is estimated that as many as 90% of the world’s largest corporations now formally codify their CSR performance into official documentation yearly.
What is corporate social responsibility?
CSR is largely self-explanatory. Though the precise definition is open to the interpretation of individual businesses, it can be generally defined as a rough series of ethical principles.
That is, a business will choose to go over and above what is strictly necessary to deliver social, economic and environmental benefits to anyone affected by the business and its activities.
In a nutshell, CSR aims to encourage businesses to improve the lives and situations of as many people as possible. This can happen across multiple different facets of society, like helping with homelessness,
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6 easy steps to planning a project within a small business
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Project planning typically has the image of being the realm of large organisations with multiple departments coming together for a year or more to deliver goals.
However, being able to plan projects in small businesses can be pivotal to business success.
Managing projects in smaller businesses involves dealing with a unique set of challenges compared to larger organisations. For one, you usually need to work within limited resources and staff, yet still be able to pull it off.
Project managers need to stay on top of every facet of the project to hit your goals on time without going over budget. Once your organisation gets to a certain size, the temptation to just wing it isn’t an option.
Let’s take a closer look then, at how to go about planning a project within a small business, starting with the importance of project management methodology.
Do you need project management methodology?
Project management methodology will guide the direction of the entire project, the key roles for each person involved, and the information which needs to be shared with everyone.
With the right methodology, you can:
Give your team strict and consistent guidelines that everyone should adhere to from start to finish
Measure every
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Book review – plus your chance to get hold of a free copy
by Stephanie Spicer • • 0 Comments
This could almost be the book that Canadian Griffiths-Hamilton wrote because she needed it. Except that she probably wouldn’t have needed it. Griffiths-Hamilton knows of which she speaks as a third generation entrepreneur: her grandfather being vet Dr William Ballard, wealth creator and investor of a popular dog food formula which he then canned for
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Health and safety checklist for small businesses
by Anna Jordan • • 0 Comments
It can seem baffling, but getting up-to-date with your health and safety is much simpler when broken down into smaller steps. Follow this checklist to help you through the process. Please note that, though health and safety law applies to all businesses, micro businesses with fewer than five employees don’t need to write down their
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Is it better to buy or lease a car for your small business?
by Timothy Adler • • 0 Comments
We all know that the moment you drive your brand-spanking new car off the car dealer forecourt, it loses value. According to the RMI, a new car drops in value anything between 15-30 per cent when you hit the road. So, given that you’ve jumped through all the hoops of setting up your limited business,
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Foreign exchange control could minimise the cost of business trips abroad
by Small Business Team • • 0 Comments
In terms of the impact Brexit negotiations have had on travel/foreign exchange costs, we have calculated that a business trip today is going to be nearly 30% more expensive than one before the Brexit referendum because of the toll it’s taken on the pound. To put this into context, a trip to Europe costing 2000
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Small Business Commissioner Q&A: Paul Uppal talks about late payments
by Anna Jordan • • 0 Comments
Before becoming the Small Business Commissioner, Paul Uppal used to run his own construction business. He knows all too well how detrimental late payments can be to a small business, having run a company in a sector where the practice is rife. We catch up with him to find out more about his and what
The post Small Business Commissioner Q&A: Paul Uppal talks about late payments appeared first on Small Business.
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Entrepreneur Q&A: I think turning down the Dragons was the right decision
by Anna Jordan • • 0 Comments
Appearing on Dragons’ Den is an ambition for many small business owners, but few would imagine coming away with no investment. After being on the show in 2018, PitPat – an activity tracker for dogs – had nothing but a couple of sales, even though it received multiple funding offers. The company’s founder, Andrew Nowell,
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