BCMS’ Commercial director (SME Division) contributes at entrepreneurship event
A recent roundtable event focused on entrepreneurship, featured BCMS’ Commercial Director (SME Division) Andy Hunt, as one of its panel of experts.
Hosted by The Business Magazine, and financial services provider UBS, the event involved a panel of senior business delegates from diverse backgrounds, discussing the key challenges facing today’s entrepreneurs. Topics discussed included current growth drivers, and whether entrepreneurs should seek to give up equity to drive growth.
In discussing growth driven by acquisitions, Hunt commented: “The market is undoubtedly competing very strongly for the best targets, which is underpinning prices; this is perhaps favouring longer-term strategic acquirers right now.”
Hunt highlighted the difficulties encountered by entrepreneurs, and small business owners, facing a lack of succession, particularly where retirement was a fundamental factor in the decision to sell.
“A significant part of BCMS’ work is trade-to-trade sales, often linked to retiring owners with a lack of succession. The earlier you can start planning for exit, the better,” explained Hunt. “There are a whole host of things a business owner may need to address early on.”
Martyn Begbour, Executive Director, UBS South and South West region, added: “Seeing people post-sale is fascinating emotionally, because many entrepreneurs have built up their businesses from nothing over many years… we always advise clients not to do anything with their money for six months, because it can take a very long time to get thought that emotional journey of selling a business.”
To read a full transcript of this round table event visit The Business Magazine website: http://www.businessmag.co.uk/round-tables/drives-entrepreneurs/