Hildreth Financial Management

19/02/2024

Investing to beat inflation for the long-term

29/01/2024

Boosting your pension pot before tax year-end

04/01/2024

Improve your financial wellbeing – five top New Year’s resolutions

11/10/2023

- Improving business resilience allows companies to take advantage of growth opportunities, as well as withstand adverse events such as losing a key client or supplier.

- Attributes of a resilient business include having positive cash flow and strong reserves; a diverse mix of customers, products and suppliers; and contingency plans in place.

- Keeping a risk register helps you to understand the potential threats to your business, the likelihood of them happening and how you would respond. You can model your strategy against these risks to test how your business would fare.

Seven tips for growing firms to improve business resilience

28/09/2023

Following the rise in corporation tax for some firms in April 2023, it’s all the more important to understand which business expenses are tax deductible. But it can be confusing.

There are tax incentives for businesses to invest in research and development (R&D), as well as allowances to invest in capital expenses such as equipment or machinery.

Practical information and expert advice can help you make sense of expenses and tax reliefs available to your business.

As a start-up, knowing what expenses can be tax-deductible will help boost your cash flow significantly. Plus, with the corporation tax rate increasing for some firms – to as much as 25% – many business owners will be looking for legitimate ways of reducing their taxable profits.

Top misunderstandings about tax-deductible expenses

25/08/2023

Exiting a business that you’ve built from scratch will have a financial – and often emotional – impact.

Preparation ahead of an exit – to understand your company’s true value and to find the right people to work with – is just as important as thinking of your post-sale future.

Having a plan for yourself and your newfound wealth after an exit is crucial for your overall wellbeing. Hildreth Financial Management can help you to understand how your wealth can help you meet your long-term financial goals.

Entrepreneur Steve Witt has started and grown several businesses during his career, including his current venture, The Travel Franchise. In 2008, he sold UKDomains, a company offering web domain services, which he’d built from scratch, for several million pounds. Yet despite his newfound wealth and freedom, Steve felt,

"Nothing but grief. I thought it would be all champagne and fireworks. Instead, it was the most depressing day of my life,” says Steve. “I went through a grieving process – I felt I'd suddenly lost everything I'd worked so hard for.”

Steve realised the truth in the old cliché that “it’s not all about the money” when he handed over his passion project to UKDomains’ buyers. It took time after the sale for him to rediscover happiness and redefine his goals.

Here are some of the lessons Steve learnt about how to exit a business.

Lessons from selling my business: Steve Witt, UKDomains