Should I use my redundancy payout to buy a business?

Posted by James Price | JPAbusiness on 05-Apr-2017 05:53:00

 

Often we come across clients who have been made redundant after a long period in an employed situation. 

They are at an age where they still have plenty of potential to make a meaningful contribution in another employed role, or in owning a business. In fact, some of the expertise they have built up over their career is very appropriate for owning and running their own business.

However there are some pitfalls:

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Topics: Buying a business, Advice, Starting a business, Financial

5 first steps to buying or starting a business (infographic)

Posted by James Price | JPAbusiness on 05-Apr-2017 05:47:00

 

Owning your own business can be one of the most rewarding things you will ever do, but it can also be one of the most challenging.

If you’re considering buying or starting your own business, take a look at the following infographic for some first steps to guide your early decision making.

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Topics: Buying a business, Advice, infographic, Starting a business

The pros and cons of business trusts [infographic]

Posted by James Price | JPAbusiness on 18-Nov-2016 05:49:00

Trusts are a very popular structure for owning and operating businesses, particularly where there are multiple business partners and significant tangible assets associated with the private business, along with the going concern trading business.

The popularity of trusts among business owners relates to benefits associated with asset protection and income distribution, among other things.

All types of trusts have the same essential structure, with minor variations in their rules (i.e. trust deed) to distinguish the trust and allow it to perform different functions.

The infographic below sets out the essential structure of a trust, along with the key pros and cons of this type of business structure.

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Topics: Buying a business, Advice, Business Structures, Starting a business

Pros and cons of a company structure [infographic]

Posted by James Price | JPAbusiness on 09-Nov-2016 05:46:00

Companies are very popular business structures and offer a number of advantages over Sole Trader and Partnership structures, particularly in the areas of asset protection and finance raising.

However they are also more complex structures, and cost more to set up and administer.

This week’s infographic takes a look at Companies: their key features, pros and cons.

Next week we’ll bring you the final in our Business Structure infographic series: Trusts.

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Topics: Buying a business, Advice, Family business, Business Structures, Starting a business

Why set up a partnership? [infographic]

Posted by James Price | JPAbusiness on 02-Nov-2016 04:01:00

As we mentioned last week, we have created a series of infographics to illustrate the pros and cons of different business structures.

Last week we examined the Sole Trader structure.

This week’s infographic takes a look at Partnerships: their key features, pros and cons.

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Topics: Advice, Business Structures, Starting a business

Pros and cons of 'sole trader' business structure [infographic]

Posted by James Price | JPAbusiness on 26-Oct-2016 03:00:00

There is generally no perfect structure that covers all wish-list items for a given business structure proposal, so the goal is to achieve a structure of ‘best fit’ for your business.

We are creating a series of infographics to illustrate the pros and cons of four common business structures: Sole Trader, Partnership, Company and Trust.

First up is the Sole Trader infographic – keep an eye out for the others, which will be published over the next three weeks.

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Topics: Buying a business, Advice, Business Planning, Business Structures, Starting a business

How to start a business [cartoon]

Posted by James Price | JPAbusiness on 14-Oct-2016 04:23:00

Many businesses start life as 'side projects'.

The business may start out by testing a product or service in the market, while the owner continues to generate a more reliable income through third-party employment.

In the excitement of pursuing the transformation of this passion or great idea into a business, some of the crucial and oft-perceived 'less exciting' aspects of starting a business can be overlooked. These may include:

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Topics: Buying a business, Family business, Starting a business

JPAbusiness Business Owner’s Checklist [template]

Posted by James Price | JPAbusiness on 07-Sep-2016 02:00:00

The JPAbusiness Business Owner’s Checklist is a useful first step for anyone considering moving from the employed workforce to self-employment.

It consists of a list of 10 common attributes the JPAbusiness team tends to find in people who successfully build and run businesses.

If you don’t have all these attributes when first embarking on self-employment, we recommend you find a way to get them. You could seek professional business advice and/or partner with people who can complement your skills and attributes.

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Topics: Buying a business, Advice, Running your business, Template, Starting a business

Am I the right type of person to own a business? [blog]

Posted by James Price | JPAbusiness on 08-Aug-2016 05:00:00

Many people feel they should ‘aspire to something more’ than being an employee i.e. owning their own business.

Personally, I think business ownership is only the right environment for some people, and for many of those it is only the right environment at the right time.

There are many factors that contribute to a person’s success in business, but the following four personality types – or personal attributes – often seem to manifest themselves in successful business owners:

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Topics: Buying a business, Skills and knowledge, Advice, Starting a business

How to manage the 3 risks of a business purchase [blog]

Posted by James Price | JPAbusiness on 04-Aug-2016 04:30:00

 

There is no reward without risk...

Risk and return are two sides of the same coin and most people looking to purchase a business, if it’s not simply to replace full-time employment, should be targeting a return of between 20% and 50% on their investment over time, depending on the business and other factors.In our experience, the risks associated with business purchases fall into three categories:

  1. People
  2. Customers, Suppliers and Market Dynamics
  3. The Value Exchange
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Topics: Business Value, Buying a business, Advice, Customers, Staff, BME, Starting a business, Suppliers

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

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