The seller, Kaleidico, is made up of a team of experts that create and execute lead generation strategies for businesses in the mortgage lending and legal verticals. Their disciplined creative process has been generating leads since 2005.READ MORE >>
"There's lots of bad reasons to start a company. But there's only one good legitimate reason, and I think you know what it is; it's to change the world." - Phil Libin
Happy World Entrepreneurs' Day to all the innovators and business owners out there who are changing the world and making a difference! At Benchmark International, we're here to help you explore your business strategies and deliver desired results, so your company can continue to help others everyday. Check out our latest workshops and see if you'd like your business to be featured in the upcoming events we will be attending.
Join us in Columbus, Ohio, for a one-to-one Valuation Workshop tailored to help you understand the current value of your company. Sign up here.
AVCJ Private Equity & Venture Forum
On November 12th, 2019, Benchmark International will be attending the AVCJ Private Equity & Venture Forum in Hong Kong. If you are interested in being featured at this event,
We Are Ready When You Are.
It's never too late to explore your company's growth strategy and exit plan. The experts at Benchmark International are here to help with unique growth strategies for your company and begin your exit planning process.
When you first started your own business, you were probably brimming with entrepreneurial spirit, otherwise the company would never have got off the ground in the first place. Now, however, you are feeling lacklustre towards your business, as the mundane tasks to keep the business going are taking over and hampering your entrepreneurial spirit. Here are four steps to take action and get your business moving forward again:
As your business grows you might find yourself doing increasingly more menial tasks to keep the business going. To ensure you have time to focus on the business, these tasks need to be delegated. Granted, this is easier said than done as you might want to stay in control rather than train somebody else to do them; however, if you continue to do this you are working in the business rather than on it. To ensure that you are the visionary and troubleshooter that you need to be, delegate work – you’ll be able to work on the bigger picture and your employees will appreciate the trust and responsibility you give to them.
Work on Goals for the Year Ahead
If you have got to a point where you have grown from a start-up then it might seem like the largest hurdle has been overcome. Nevertheless, you need to keep this momentum going to watch the company flourish. To do this, it’s a good idea to have plans and goals for the upcoming year, setting aside time to break down your goals into smaller steps with these to be actioned monthly, or even weekly. If these tasks are scheduled, and you ensure they are actioned, then this helps to make sure these goals are accomplished.
If the day-to-day has become monotonous and the business is plateauing then you might want to encourage innovation to take the business in a new direction. To innovate it is useful to listen to both your customers and employees, as well as encourage your employees to take risks and think outside the box. This way, new ideas can be created and prevent the business from stagnating.
Take Some Time Out of the Business
Taking some time out of the business can help you to recharge. Whether this be scheduling time for yourself each evening, making sure you take time off at the weekend, or going on holiday, taking time out can help you to take a step away from the business and refresh, helping to stimulate fresh ideas.
READ MORE >>
Chancellor Philip Hammond this week announced the 2018 Budget, the last one before the UK leaves the EU. As negotiations continue over a Brexit deal, uncertainty surrounds the UK economy but Hammond appeared confident that a good deal will be secured and that austerity is coming to an end.
In the context of business, the Budget was largely positive – for example, rates for small businesses are to be cut, there will be a temporary increase in the annual investment allowance from £200,000 to £1m, and start-up loan funding is to be extended to 2021. As well, new enterprise allowance is to be extended for benefits claimants to help get their businesses off the ground.
Negatively affected by the budget are tech giants such as Google and Facebook with the announced introduction of a Digital Service Tax but, overall, the Budget is promising for SMEs and start-ups
But is the Budget equally pleasing for M&A?
Entrepreneurs benefit from a reduced tax rate of 10 per cent, compared to the normal rate of 20 per cent, when selling shares in a personal company, which helps the business owner to make substantial savings. There was speculation whether this relief would be abolished with the Budget and the good news for entrepreneurs is that they can still benefit from the reduced tax rate but, from 2019, entrepreneurs must own a business for two years before selling in order to qualify for the relief, which is up from one year previously.
This is to prevent an abuse of the rules and is unlikely to affect genuine entrepreneurs, with the chancellor stating they are the “heart of our dynamic economy”.
Targeted Relief for the Cost of Acquiring IP-Rich Businesses
From April 2019, the government is looking to introduce targeted relief for the cost of goodwill in the acquisition of businesses. From November 2018, the government will also reform the de-grouping charge rules, which apply when a group sells a company that owns intangibles, so that they more closely align with the equivalent rules elsewhere in the tax code.
As can be seen, the Budget is largely positive in terms of tax relief concerning the buying and selling of businesses – while the rules have become stricter in terms of entrepreneurs’ relief, this is much more preferable to the alternative of abolishing it.
There is still the chance for you to capitalise on the extremely low 10% capital gains tax rates which are on offer via Entrepreneurs’ Relief, whenever you fully or partially sell your company.READ MORE >>
In July 2016, Benchmark International’s client, Command Partners (a digital Marketing Firm) merged with Enventys (a Product Development Firm). These companies cater to helping entrepreneurs and startups locally and globally. Command Partners focuses on digital marketing for burgeoning companies using crowd funding and Enventys; expertise is in product design, engineering, manufacturing and fulfillment. The joint company will provide the following services, among others: marketing research, industrial design, engineering, prototyping, commercialization strategy, software and app development, branding, video production, digital marketing, public relations, search engine marketing, web development, lead generation and more.READ MORE >>
Entrepreneurs, by nature, are people who spend a considerable amount of time looking for the next opportunity. And for them, 'the next opportunity' often includes a suitable time to sell their company.READ MORE >>
It was Steve Jobs of Apple who once said: "Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it."READ MORE >>