 I am struck by how many of the business owners I meet that do not consider this, and when I raise the subject, they usually tell me that they are relying on a private rental property and a modest pension for their retirement with no further access to finance.
They do not see their business as a saleable asset but as a source of cashflow that will have no value when they stop working And so often when I look at the financial structure of their business, its only assets are the debtor book, (some of which isn’t collectible), creditors at about the same value as the debtors, some cash in the bank and equipment and stock which would fetch less than book value if sold off. It’s therefore true, such a business is really not saleable, just something to close down and walk away from; as do 250,000 other UK small businesses owners every year for this very same reason. However, majority could be sold for a six or seven figure sum if managed differently Such an amount would transform the owners’ retirement finances from ‘getting by’ to luxury. Yet I get strong objections to the above proposition such as, “this business is all about me, so it isn’t saleable” I politely disagree with the above and put it to you that any and every business is saleable How? Well, it is instructive to first look at big businesses, which are all about money and return of investment (ROI) to see what they do. The aim is to not to be as ruthless as them but to learn for free what you can adapt. Here is what they do (just in their financial management stream – there are 4 others*):
At face value, much or all of this sounds time-consuming, costly and bureaucratic. To an extent it is. However, big businesses perform the above actions for the very good reason that it works, knowing that time invested in doing this provides a very good payback and ensures their survival. And remember, every big business was once a little one whose founders had the foresight to introduce strong business performance strategies and financial management at an early stage. The average big business sells for 14x pre-tax profits. Yet I have seen small businesses making £50K pa close down for instead of selling as a going concern for £500K+ It may seem that chasing another order or dealing with a customer crisis is a better use of your time. However, it should account for all you do. Appropriate business and financial management would make the orders come in automatically and prevent the customer problem in the first place. Knowledge is power and good financial management and other applicable actions gives you the power to make smart decisions that will build a saleable business worth millions. Most of what I have instanced above are not difficult to implement. And if you find this a challenge, your Business Advisor at RBSS Consulting Ltd, Romford will do it for you, helped by low-cost apps. Please note: not every action mentioned above will apply to your business which is a good reason to call in an experienced and professional Business Advisor for expert guidance. If you can resonate with some of the above points or are in any doubt as to which direction your business is heading in, get in touch with us today and you can be rest assured we will point and lead you in the right direction at RBSS Consulting Ltd. _______________________________________________________________ Your first step is for free and takes 15 minutes by Booking a free assessment here to find out how much your business is worth today, what it should be worth, and the actions needed to get it there. All in a comprehensive report tailored just for you. Another RBSS Consulting Business Consultant service… “Delivering Real Business Solutions” (*The 5 business streams are Marketing; Operations; Systems; People; Finance)  Following the Budget 2021 announcement, find out what all small business owners need to know.
 Covid-19 has been a challenge for all of us. It has presented a completely unique and unprecedented obstacle for small businesses as well as causing a global economic crisis. In the centre of it all, millions of small business owners are wondering how they can recover.
But it’s not just the recovery that’s important. After the coronavirus outbreak, which is still just as severe as when it started, how are small businesses supposed to thrive? The world can feel pretty hopeless at the moment, but we are here to help your small business make it through.  Micro, small, medium and large businesses need all the support they can get in these really trying times for business. This includes the self-employed, employees and those working in the gig economy. Below is a summary of the additional measures the Government announced on the 5th of November 2020 by the Chancellor.
 One reality all business owners need to face, in some form or shape, is the impact of the predicted economic slowdown on your business. It’s either going to impact directly, because of the sector or industry you are in, or indirectly, through the customers or clients that buy from you.
Some clients of mine have said they have done pretty well during the height of the COVID-19 crisis, but are now feeling the impact because now their client’s clients have less disposable income. Be it B2B or B2C the story is the same. The guidance given here is about how to pull through such situations as best as possible.  After 3 months of COVID-19 and during this response phase to the attack, how have some of the finance packages the government put in place been responded to by businesses in the UK. Apart from the premises business rate related grants and the job retention scheme, some of the other popular funding support schemes that businesses have responded positively to are:
Has this been a load of hype or have they been accessible real solutions. How have they done so far?  You have probably been bombarded with information on the above measures that the Government has taken to support and protect businesses of all kinds against the impact of the COVID 19 virus in the UK. There is a lot of information going out to businesses and employees at the moment. The information isn't static but evolving daily. I have received many calls and I understand your frustration and concerns. After several conversations with senior staff in Financial Institutions, Trade Body Associations and Funding Associations and reading subsequent follow up documents from the government, things are much clearer. The operational mechanisms for delivery and implementation are still being worked on in some cases.
 As you would have heard numerous times, we live in a fast moving world especially where business is concerned. New today, obsolete tomorrow. Selling your product/service is more about reaching out to your customers unlike when, it used to be the other way round. This however, could be very challenging when you are stretched and have limited resources or at least not unlimited. There’s a never ending list of tips on what every small business owner should know. However, I’d like to focus on 5 tips which is a good place to start. Please note this is practical advice for real results from feedback from businesses we have worked with.
 One of the prominent ways to prevent your business from being stagnant is to stand out from the competition. One of the most common questions business owners need to ask themselves is: ‘Is my business still relevant to the target market I have and am I presenting or packaging it in the best possible way taking in to account the resources available to me?'. One of the catch phrases in businesses today is; beyond expectations or exceeding expectations. The way to achieve the above, would be to look at your business from a constructively critical view. The following 5 tips can help you revive your business:
 There are numerous tips on how to succeed in business for start-ups. However this is practical advice for real results from feedback from businesses we have worked with and ours:
1. Business planning 2. Test Marketing 3. Right Finance  Every business whether start-up or existing micro, small, medium or large enterprise, needs expert and valuable business advice. That’s where RBSS steps in. We provide a full diagnostic on areas of your business or field you may not have thought about, but are important. A business consultant can also be an excellent sounding board to help get you out of some very tricky situations. Some business solutions are ways to raising finance, business valuation and health checks, business planning , growth strategies, profitability and efficiency strategies, business modelling etc. These services are available to both start-ups and existing businesses.
In this blog I will focus on 4 key areas a consultant can add value to your business.  Whether you are a start-up business or a business that wants to grow the company to the next level, you may need some form of cash injection to help you on your way. But asking for money isn’t that simple. Any money lender will want to see a thorough business case and financial projections, to help them decide if investing in your idea is going to be a profitable one, or not. The business advisors at RBSS Consulting in Romford, Essex, help companies of all sizes get finance ready. Here is our four-step process that we will take you through.
 Whilst it is common knowledge and should be the goal of any business to grow and acquire more clients, as they truly say in the business world, it is more cost effective and easier to retain your current clients than to acquire new ones. However, with the stiff competition businesses face today and to help you compete effectively in getting more customers and keeping your existing ones, I’ll be focusing on five tips (not a magic wand) to help you achieve this.
 Statistics vary by +- 5% on the number business failures within the SME community in the UK, however all statistics in the UK agree that up 60% of small and medium businesses fail within the first year and a further 30% within three years. It’s been proven that part of the reasons for business failures is lack of proper business planning, understanding business finance, cash flow challenges or lack of business support, either prior to the business starting or during the business operation. However, this does not have to be your fate. Benjamin Franklin says, “If you fail to plan, you are planning to fail!”
To avoid such a pitfall, I’ll be sharing five very brief tips to turn your business around or in some cases, how to avoid failure altogether.  Whether it’s starting a business or running an existing successful business, we could all do with a few pointers every now and then. Here are 5 important business quotes and what you can learn from them:
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