Selling a business. Is exit the right option? Is a sale realistic? When do you start the process?

You have a profitable business that could be an attractive proposition for the right person. All the risk and hard work has paid off. You think it’s time to turn the dream of cashing out into reality, but is an exit the right option, is a sale realistic, and when should you start the process? Is selling the right option? Give careful and serious consideration to your reasons for sale. You will be asked by potential buyers why you want to sell. They will need to be comfortable with your motivation and answers. Ask yourself the following: What are your objectives as business owner? Do you want to realise some…

GDPR Client Case Study: JHWalter – long standing Lincoln property agents

“It was a relief to be guided through this complicated new legislation and to be given documentation which was clear and provided the solution we needed. Euan had a firm grasp of the law and its practical implications for our business. He made the issues easily understood and acted promptly. We are most grateful to him.” Tim Atkinson, Partner at JHWalter JHWalter takes great pride in its attention to detail with respect to legislative and regulatory requirements. Accordingly, the impending introduction of GDPR in May 2018 was a matter that the Partners of JHWalter took very seriously. JHWalter has a longstanding relationship with Sills & Betteridge, both as a client…

Top 10 tips for starting your own business

Starting your own small business can be both difficult and rewarding and often a learn-as-you-go process. Making more smart decisions early on, will better the chances of success. Neil Large, partner in our corporate team, shares his top ten tips. Address excuses: Countless people dream of becoming entrepreneurs, but they never do. They’re burdened with excuses and fears of failing. From money to time to responsibilities, you can make a million cases for not starting a business. Let’s face it, being your own boss is scary. In most cases, new business owners have a lot to lose with little insight into their chances of success. Worrying about the risks of…

GDPR Client Case Study: Jessops Construction Limited – high profile £17m turnover building company

“The senior management team at Jessops Construction wanted to ensure that we were doing everything necessary to be compliant with new GDPR legislation. As such, we sought Euan’s advice on the topic to clarify this for us. During this process, we found Euan to be knowledgeable about the subject, and thorough in his explanation of the implementation of changes necessary to company procedure in relation to the collection and storing of data. We found his approach user-friendly and were pleased with the outcomes of our collaboration.” Kelly Yarwood, Company Secretary Working in an industry governed by multiple different layers of regulations, the senior management team at Jessops Construction Limited immediately…

Succeeding at Succession in Family Businesses

Planning for exit and succession can be difficult in any business, but as Neil Large partner in our Corporate Team explains, in family businesses there are additional factors to consider. One of the problems with family succession planning is that the two key objectives – liquidity and preservation of the business legacy appear to be in conflict – how can you get cash without selling up? A sale to a trade buyer may be unattractive if the plan is to keep things in the family, and this is where a purchase by family members (a “Succession Buyout”) is an increasingly viable and popular alternative. A Succession Buyout is essentially a…

GDPR Client Case Study: Sleeping Disorders Centre – nationwide medical group

“I have no hesitation in recommending Euan and Sills & Betteridge to anyone seeking practical commercial advice, delivered quickly and cost-effectively, with a focus on the commercial context of the issue at stake. I have been delighted with the services of Sills & Betteridge over a number of years, during which time they have consistently satisfied all of my business and private legal requirements.” Michael Oko, Director   Sleeping Disorders Centre as a practice is always keen to recognise and meet its legislative and regulatory responsibilities, and felt that the introduction of something such as GDPR required it to take detailed advice to ensure proper measures were put into place.…

Leading South Yorkshire corporate lawyer joins Sills & Betteridge

Sills & Betteridge LLP is delighted to announce the recent appointment of Partner Neil Large. Neil joins the firm with over 20 years’ experience as a corporate and banking lawyer, with leading UK national and regional full-service law firms. Neil specialises in the full range of corporate transactions including cross border, all types of debt and equity finance, and all aspects of company and commercial law. His clients include local, national and international businesses and their stakeholders, private equity and venture capital funds, business angel investors, banks, asset and trade finance lenders, MBO/MBI teams, high net worth individuals, entrepreneurs, and real estate investors and developers. He will be based primarily…

Is it time to health check your SME business?

There’s a lot more to a business legal health check than simply finances. As Neil Large an experienced M&A and banking lawyer in our corporate team explains, it provides an essential all-round MOT for your company. Businesses are always looking to cut expenditure and reduce exposure to risk. Directors often focus on finances alone and the annual account audit as a measure of risk, without examining the wider business. An accounts audit will review historical performance, but a legal health check allows you to plan for the future. A legal health check will help highlight areas where improvements and cost savings could be made, and what are the strengths to…

Family courts ‘not safe space’ for domestic abuse survivors

In a recent article, the BBC reported that family courts are ‘not safe spaces for domestic abuse survivors’. Chrystal Theofanous, Head of Domestic Abuse shares her thoughts below. “Whilst I am pleased that this case has hit the headlines to bring awareness of what is happening within the courts up and down the county, I am disappointed to say this is not an isolated case. For years we have been told that judges and indeed Magistrates are to get ‘specialist training’ when it comes to dealing with domestic abuse cases. However, more and more we are coming across barriers where victims of domestic abuse are often made to feel like…

Employment Law: What’s to come in 2020?

2020 looks to be a big year for employment law. Brexit is due to go ahead on 31 January 2020. There will be a transition period until 31 December 2020, during which EEA Nationals will still be able to come to work in the UK. Employers should ensure that EEA Nationals obtain settled or pre-settled status, to enable them to stay at the end of the transition period. EEA Nationals resident in the UK have until 30th June 2021 to make an application. From April 2020… The National Living Wage rate, for workers aged 25 and over, will increase from £8.21 to £8.72 per hour. All new employees and workers…